Certify acquires real-time expense management startup and YC alum Abacus [TechCrunch Blog]
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Source: TechCrunch Blog
Expense management software provider Certify is beefing up its artillery against rival Concur with the acquisition of Abacus , which enables companies to deal with expenses in real time. The deal’s financial terms were not disclosed. The addition of Abacus will help Certify, which includes other expense management solutions like Nexonia and ExpenseWatch under one umbrella, become a stronger rival to SAP-owned Concur by reaching new customer segments. Founded by Omar Qari, Josh Halickman and Ted Power, Abacus says it was the first real-time expense reporting solution on the market when it launched in 2013 . The Y Combinator alum, whose investors included General Catalyst, Bessemer Venture Partners, Google Ventures and Salesforce Ventures, currently counts 1,000 customers. Its team will join Certify and the Abacus product will continue to be independent. Expenses are a bane for everyone involved: the employees who need to turn in receipts, the managers who hav
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