Expensify, a US-based accountancy software developer backed by cybersecurity services provider Barracuda Networks, disclosed on Monday it has confidentially filed for an initial public offering.
Founded in 2008, Expensify has built a software platform which isused by companies to track and manage employee expenses. It also provides a business credit card which can be used together with its mobile app.
The company raised $17.5m for the close of its series C round, in 2015. OpenView Venture Partners led that tranche, with participation from Redpoint Ventures, Hillsven Capital and Point Judith Capital.
Prior to the series C round, the company had raised $10.2m from investors including Barracuda Networks, which took part in its $3.5m series B round in 2014. Expensify also owns a corporate venture capital subsidiary called Expensify Ventures, which launched in 2015.