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Expensify Reaches Five Million Users Worldwide, Doubles Customer Base

Expensify announced reaching a pair of major milestones today. First, the expense management software specialist has doubled its customer base this year, growing its number of users to more than five million worldwide. “More and more, employees are tired of spending countless hours doing mundane tasks and instead are turning to technology to speed up those processes,” Expensify founder and CEO David Barrett said. Barrett credited workers themselves for demanding “better tools to expedite their workload” and said this demand “has really translated (into) exponential growth in new customers and partnerships.”

Second, not only has Expensify doubled its customer base, the San Francisco-based company also has doubled the number of accounting companies participating in its partnership program. This includes top 50 accounting firms such as BPM CPA, Kaufman Rossin, Rehmann, and Wipfli. Speaking for Wipfli, partner Mark Stricker called the partnership with Expensify a “crucial” difference-maker for his company.

Pictured: Expensify founder and CEO David Barrett demonstrating Expensify Invoices at FinovateSpring 2013.

“Previously we could only see the full picture of our clients’ financials after all expense reports had been submitted and reimbursed at the end of the month,” Stricker said. “Expensify allows us to track our clients’ spend in realtime, so we can advise our clients based on their current financial status, not last month’s.”

Founded in 2008 and headquartered in San Francisco, Expensify demonstrated the Expensify Invoices feature of its platform at FinovateSpring 2013. Last month, the company announced five new partners for its automation-first, ReceiptBurner platform, and teamed up with Lyft to make auto-expensing easier for the ride-sharing firm’s business travelers. In May, Expensify and fellow Finovate alum Xero partnered to bring OCR receipt scanning, next-day reimbursement, company card reconciliation, and other expense management services to workers at Xero’s 21 offices around the globe. Expensify has raised more than $27 million in funding and includes Redpoint, Barracuda Networks, and OpenView among its investors.