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Abacus Raises $3.5M

2014-11-03
NEW YORK, NY, Abacus has raised a $3.5M seed investment led by Bessemer Venture Partners and General Catalyst.
FROM BLOG POST:
Abacus Raises $3.5M to Eliminate Expense Reports

We began work on Abacus out of a shared frustration with expense reports, setting out to replace them with the first realtime employee expense system.

We imagined a service that would make employees happier, while also giving managers more control and better insights.

To help us deliver on this mission, we're excited to announce we have raised a $3.5M seed investment led by Bessemer Venture Partners and General Catalyst, with participation from Bloodstone, CrunchFund, FundersClub, Google Ventures, Homebrew, Sherpalo, Patrick and John Collison of Stripe, Josh Reeves of ZenPayroll, Jeff Epstein, former CFO of Oracle and DoubleClick, Naval Ravikant of AngelList, Andrew Kortina and Iqram Magdon-Ismail of Venmo, Adam Erlebacher of Simple, Sumon Sadhu of Quid, Nas and Paul Buchheit of Y Combinator.
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