![]() ![]() Abacus is the latest addition to this multi-brand portfolio. If you are an Admin, click Spend Policy in your Admin sidebar to view, create, and edit custom rules. Omar and his team have done a tremendous job building Abacus and we look forward to helping them continue to grow their business while enhancing Certify’s leadership position in the spend management space.”Certify itself was acquired by the K1 investment Management in 2017 and K1 combined a number of brands (Nexonia, ExpenseWatch, and Tallie) focused on travel and expense management. The Abacus Spend Policy page allows you to create any number of rules that will help you enforce your companys expense policy and create controls around expense submission and approval. “Acquiring Abacus strengthens and expands our management team, product set, and domain knowledge,” says Neveu, “The company’s real-time expense management solution is unlike anything else in the marketplace. Learn how Abacus simplifies the expense management process and cuts down finance teams workflows by 80 in our explainer video. Abacus drafts expenses using reliable data sources such as receipts and card transactions to ensure records are complete and accurate. The company plans to continue expanding in New York, leveraging the expertise and resources of Certify. Capture accurate expense data from employees. Investors in the company include Y Combinator, Bessemer Venture Partners, General Catalyst, GV, FundersClub, CrunchFund, QueensBridge Venture Partners, Sherpalo Ventures, Homebrew, 645 Ventures, Slack, Joshua Reeves, Lunch Van Fund, Patrick Collison, Jeff Epstein, John Collison, and Sumon Sadhu.Īccording to Qari, Abacus will continue to operate under its own brand and the team in NYC will remain intact, reporting to Certify Group CEO and Founder Robert Neveu. “Learning more about how aligned our vision is with Certify’s helped us realize that the fastest way to achieve our goals was to join their organization.”įounded by Qari, Josh Halickman, and Ted Power in 2013, Abacus had raised $3.6M in funding over. Teaming up with Certify will give our team the opportunity to grow Abacus’ market presence by leveraging Certify’s resources and expertise,” says Omar Qari, CEO of Abacus. “We are thrilled to join Certify’s family of brands. ![]() Terms of the transaction were not disclosed. Abacus, the real-time expense reporting and management solution, has been acquired by Portland, ME-based Certify Group.
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