Divvy was founded in 2016 by Blake Murray and Alex Bean. In 2021, Divvy was acquired by Bill.com (NYSE: BILL).
Divvy is an expense management platform for businesses and corporations. Prior to its acquisition by a public company, Divvy raised more than $365 million in venture capital funding from investors including Hanaco, Schonfeld, PayPal Ventures, and Whale Rock. The company was valued at $1.6 billion after a $200 million fundraising round in early 2021.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
01/05/2021 | Series D | $165MM | $xx.xx | $162.39B | Acrew, Hanaco, Insight Venture Partners, New Enterprise Associates, Paypal Ventures, Pelion Venture Partners, Schonfeld, Whale Rock | |
Price per Share
$xx.xx
Shares Outstanding
4,062,799
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Acrew, Hanaco, Insight Venture Partners, New Enterprise Associates, Paypal Ventures, Pelion Venture Partners, Schonfeld, Whale Rock
|
||||||
04/30/2019 | Series C | $111.44MM | $xx.xx | $80B | Acrew Capital, Insight Venture Partners, New Enterprise Associates, Pelion Venture Partners | |
Price per Share
$xx.xx
Shares Outstanding
5,419,684
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Participating
Participation Cap
1000
Key Investors
Acrew Capital, Insight Venture Partners, New Enterprise Associates, Pelion Venture Partners
|
||||||
07/24/2018 | Series B | $33.33MM | $xx.xx | $17.3B | Insight Venture Partners, Pelion Venture Partners | |
Price per Share
$xx.xx
Shares Outstanding
5,170,117
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Participating
Participation Cap
1000
Key Investors
Insight Venture Partners, Pelion Venture Partners
|
||||||
05/04/2018 | Series A | $11.8MM | $xx.xx | $5.85B | Album Vc, Pelion Venture Partners | |
Price per Share
$xx.xx
Shares Outstanding
3,699,051
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Participating
Participation Cap
1000
Key Investors
Album Vc, Pelion Venture Partners
|
||||||
12/13/2017 | Series Seed-1 | $5.15MM | $xx.xx | $2B | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
4,159,610
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Participating
Participation Cap
1000
Key Investors
Undisclosed Investors
|
||||||
12/13/2017 | Series Seed-2 | $5.48MM | $xx.xx | $2B | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
4,443,420
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Participating
Participation Cap
1000
Key Investors
Undisclosed Investors
|