Deals

Expensify raises $5.7M for more expense reports "that don't suck"

Expensify, a producer of online software to create expense reports, announced today that it has raised an additional $5.7 million in funding during its second round led by Redpoint Ventures.

The company offers a way to make and act on expense reports by importing expenses and receipts from credit cards and mobile phones, submitting reports through email, and reimbursing online using QuickBooks and direct deposit.

Expensify had earlier raised $1 million in its first seed round in May 2009, which was led by Hillsven Capital, Baseline Capital, and Travis Kalanick. Redpoint Ventures founding partner Tim Haley will join Expensify’s board of directors as part of the deal.

Expensify launched at TechCrunch50 and took home the “DemoPit 2nd Place” prize. It has since grown to offer its apps on the iPhone, BlackBerry, Palm WebOS and Android platforms.

[Photo: Brett L]

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