Jeeves, an all-in-one expense management platform for global startups, has announced that it has raised a $57M Series B at a $500M valuation. The Series B round, led by CRV, comes just two months after the company’s Series A round led by Andreesen Horowitz in June.
This Series B also includes participation from Tencent, Silicon Valley Bank, Alkeon Capital Management, Soros Fund Management and a key group of angel investors including Kevin Durant, Andre Igoudala, Odell Beckham Jr., The Chainsmokers and the founders of eight unicorn companies — Adolfo Babatz (CEO, Clip), Gabriel Braga (CEO, QuintoAndar), Pierpaolo Barbieri (CEO, Uala), Zac Prince (CEO, BlockFi), Immad Akhund (CEO, Mercury), Pablo Gonzalez (Founder, Bitso), Tom Blomfield (Founder, Monzo Bank), Des Traynor (Founder, Intercom), Bo Jiang (CEO, Lithic) and founders from UiPath, Auth0, GoCardless, Hashdex, Dr. Consulta, Buser, Frubana and Pomelo.
“We were not looking to do another financing round this soon after our Series A, but fueled by our exponential growth, we received strong interest and term sheets from multiple funds. We’re building an all-in-one global expense management platform for startups in LatAm, Canada, Europe and UK — cash, corporate cards, crossborder — all run on our own infrastructure. This gives us a lot of flexibility and allows us to offer a truly unique product for our customers.” said Co-founder and CEO, Dileep Thazhmon.
“We were blown away with Jeeves’ growth, consistently hitting and exceeding targets month over month, and the overwhelming positive feedback from customers that just love the product,” said Saar Gur, General Partner at CRV, Midas List VC and early investor in DoorDash, Patreon and Mercury Bank, who will also be joining the board of Jeeves. “Dileep and Sherwin designed Jeeves’ infrastructure from the ground up to dynamically manage cards, bank to bank transfer, FX across an increasing number of regions. It was evident from day one that this is a high velocity team dedicated to building the financial operating system that so many global companies need.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.