20 Things You Didn’t Know about Emburse
Emburse is a company that specializes in the provision of accounts payable and expense management automation solutions for its clients. It’s been in operation since 2014 and has achieved success in its mission to streamline the financial processes for companies, saving them time and money. If you’re not yet familiar with this fintech startup, here are twenty things you probably didn’t know about Emburse to bring you up to speed.
1. Emburse frees time for employees to focus on other tasks
Crunchbase reports that Emburse provides its clients with automated systems for accounts payable and expense accounts that enhance the autonomy of business travelers, CFOs, and finance professionals by eliminating the need for manually completing time-consuming tasks. It helps bypass the need for approvals through a pre-programmed approval system for expense management, saving man-hours, and improving the productivity of finance professionals. It fees time for employees to focus on other tasks.
2. Emburse is used by millions of travelers
The Emburse platform is a trusted source for over 12 million finance leaders and business travelers. The company has been successful in marketing its solutions and has amassed more than 16,000 client organizations that depend on its automation to save time and money, and streamline its accounts payable processes. It’s achieved a high degree of success with its marketing campaign and it’s gaining credibility in the business world.
3. The Emburse website used a complicated array of technologies
Emburse uses forty-six technologies to power its website, It’s a complicated combination that is distributed across thirty-one technology products and services to guarantee visitors a smooth and seamless experience when using the website. Some of the technology products and services include jQuery, Google Analytics, HTML5, Euro, Domain Not Resolving, Mobile Non Scaleable Content, and several others.
4. Interest in Emburse is growing
The analytics report for the Emburse website confirms that interest is continuing to rise in the products and services the company offers. The monthly visits recorded for the past thirty days show that Emburse received 103,695 visits. The number reflects a monthly visit growth rate of 126.01 percent over the past month. This is exceptional growth and valuable information that helps strategic planning teams know more about the success of marketing efforts. The Emburse website is ranked number 499,205 of the millions of websites registered on the world wide web.
5. Emburse is the most popular in the United States
Emburse’s products and services are gaining recognition and popularity throughout the world. The highest percentage of visitors are from the United States, the home country of the company. Eighty-three percent of web traffic comes from this country reflecting a monthly visits growth of 104.91 percent. Nine percent of the traffic is from Latvia with a 6,888.15 percent monthly visits growth. Six percent of the web traffic is from Canada, One percent from the Philippines, and less than one percent from India.
6. Emburse has a 15-member executive leadership team
Emburse has a large executive membership team. There are now 15 members of the ELT listed on the Emburse website.
7. Emburse received venture capital funding
Emburse participated in one round of seed fundraising on March 22, 2016.
8. Emburse acquired Data Visualization Intelligence
On March 16, 2021, Emburses acquired a company called Data Visualization Intelligence. The new member of the Emburse family specializes in the delivery of edge visualization products based on machine learning and data science. Data Visualization is based in Virginia Beach, Virginia. The terms of the acquisition were not disclosed. It is assumed that Data Visualization continues to operate as a separate entity under the umbrella of its parent company Emburse.
9. Emburse acquired Roadmap
Emburse also acquired a second company called Roadmap. Roadmap is a travel platform that uses intelligent interfaces that are branded and personal for its clients. The company was acquired by Emburse on March 16, 2021. Its headquarters are in Delft, Zuid-Holland, the Netherlands. The terms of the acquisition agreement were not disclosed. It is presumed that Roadmap will continue its functions as usual but under the umbrella of its parent company. The total funding amount of Roadmap before its acquisition was 4 million Euros. This suggests that the American company is expanding into European territory.
10. Emburse is revealing its new product in 2022
Techcrunch confirms that Emburse revealed its first product in the SMB realm on April 13, 2022. It’s called Emburse Spend. It’s the company’s first entry into the SMB space. It’s taking on the competition of Brex and Ramp as it heads into the software and the enterprise arena. The product discards the old method of subscriptions and moves its platform to interchange fees. This is in opposition to the Brex strategy. By doing so it is diversifying its revenue base.
11. Emburse Spend is a simplified new corporate card
Emburse Spend is for managers who need to issue cards at a moment’s notice. Previous card issuance required lengthy approval processes. The new Emburse Spend allows managers to issue cards without the need to wait for the approval of the finance department. When a request is made for a company card for travel or purchase expenses, the manager in charge has the authority to authorize a plastic or a virtual card that will activate immediately. It saves reams of paperwork.
12. Emburse has a complicated history
Emburse started as a company named Certify. Its private equity owner was K1, who acquired Emburse, along with Chrome River. They combined the three companies to bring the trio together into the modern-day Emburse. they started in the spend management and invoice automation tech business for enterprise space. Emburse is a collection of companies that put their capabilities together to function as one.
13. Emburse does plastic and virtual
The corporate card that Emburse facilitates works as plastic or physical cards and virtual cards to take business trips and make purchases. The system eliminates the need to submit expense reports or to submit receipts. The system eliminates the paperwork and time-consuming processes that eat up many hours of staff time. They’re helping companies to move to a new sophisticated system that streamlines financial processes and expense management. The addition of a virtual credit card maximizes the use of digital technology and takes the companies to a new level of sophisticated technology that may one day eliminate the need for paper in the office setting.
14. Purchases made through the Emburse Cards send a real-time alert on the Spend mobile app
The new Emburse Spend platform is a potential disruptor in the fintech industry. It offers companies a way to distribute both plastic and virtual cards and also a way to manage them with less time and effort. The platform offers a risk-minimizing component that sets policies for spending to cut down on unauthorized expenditures. The system automatically tracks all the necessary information making it unnecessary to duplicate the recorded data through a paper trail. purchases made through the Emburse Cards send a real-time alert on the Spend mobile app. It captures an image of the receipt, eliminating the need for paper receipts. The technology is programmed to verify the data captured as authentic and it automatically creates an expense record.
15. Emburse processes billions annually
The Emburse platform has attracted large numbers of customers. The annual amount of spend that it processes is approximately $65 billion. The company is now profitable and it is growing at an exciting rate. The retention rates for its customers are high. Clients of Emburse are pleased with the products and services they receive. When you combine high retention rates with the monthly visits growth rate we saw from their website analytics, it appears that Emburse is growing and expanding at a rapid speed.
16. Emburse plans to go public
The CEO of Emburse shared that Emburse has plans to file for an initial public offering in the future. Although he declined to state when he did say that they were making plans but it would have to occur at the right time. They hired a new CFO. Adriana Carpenter is experienced in taking companies through their IPOs. Friedrichsen indicated that the company is likely to go public within a few years, but would not commit to anything beyond that.
17. Emburse employs a large workforce
According to LinkedIn, the current number of employees at Emburse is 894. Emburse is planning an expansion and has listed 159 new positions on its website. They’re hiring workers across the entire United States from coast to coast. There are also job openings posted for Toronto, Ontario, Canada, and in Delft, South Holland, The Netherlands. The company is experiencing yet another surge in growth. It’s enlarging its infrastructure in the USA and continuing its expansion in other parts of the world. Some of the positions stipulate specific cities, but others are listed as remote jobs that are open throughout the nation.
18. Emburse is a multinational company
Although Emburse’s headquarters is in the United States, the company has offices around the world. We learned that their offices in North America are in Los Angeles, Portland, Maine, San Diego, California, San Francisco, California, Toronto, and Montreal in Canada. Emburse also has offices in Australia, the Netherlands, Spain, Germany, and the United Kingdom. If Emburse continues its expansion it will soon be everywhere in the world. So far, we’ve not heard about any plans for further penetration into the European market. They’re busy boosting the infrastructure and hiring for the offices that are currently established.
19. Emburse has high ratings from its workers
Glassdoor reveals that most employees at Emburse give the company high marks. The Glassdoor review site polls workers at companies to ask for their honest opinion about the workplace, its environment, and the leadership. Eighty-two percent of respondents said they would recommend working at Emburse to a friend. Eighty-five percent said they approve of the current CEO Eric Friedrichsen. The overall rating of Emburse from its workers is 4.2 out of 5-stars. Many workers commented on the inclusive culture and exceptional benefits for full-time staff.
20. Emburse is a company to keep your eye on
Emburse is a profitable company that is on the move and growing in its reach throughout the world. Retention of clients is high and Emburse continues to add new customers daily. The platform serves millions of business travelers and it processes tens of billions of dollars in transactions per year. It’s becoming a trusted provider for many companies throughout the world. You won’t find Emburse shares for sale or trade on the public stock exchanges, at least not yet, but it’s something that is on the horizon. Emburse plans to file its IPO within the next few years. Although we haven’t got a ballpark on the date yet, it’s something worth considering for future investment. It’s wise to keep an eye on the company and listen for news of its IPO to get in on the ground floor of public trading if a fintech stock would work for diversifying your investment portfolio.