DIVVY UTAH UPDATE
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When completed, the complex will accommodate up to 850 employees. The barely 2-year-old company has built a client list that tops 3,500, has raised some $230 million in investment capital and, just last month, broke ground on a new, 150,000-square-foot headquarters in Draper.

The new product release is another notch in Divvy’s belt of accomplishments that belie its short existence. “That’s not what we want our clients dealing with in 2019.”īill Pay, Hogge said, removes that very analog pathway and instead employs some digital automation, along with subcontracted services, that takes care of processing remittances.

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“Many of our clients have highly manual processes to pay their vendors, including licking stamps and sending out checks,” Hogge said.

DIVVY UTAH UPDATE

Tyler Hogge, Divvy vice president of product, said the company had recognized early on that it wanted to create a solution to its clients’ noncredit card spend sheet and saw an opportunity to update a system that is “beyond out of date.” Divvy earns its money on the banking side of its transactional system. Also, the platform, including the new Bill Pay tool, is free. Managers, via the platform, can set purchase limits and restrictions, monitor activity in real time and make dynamic changes, as needed. Remote in Salt Lake County, UT Business Analyst, Process Improvement.

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“We designed Bill Pay as a modern approach to an outdated process, giving leaders real-time control and visibility of credit card and noncredit card spending, all in one place and tied to one budget.”īill Pay compliments a Divvy software platform that already mediates expense management and enables users to create unique identifiers for every vendor and discrete credit card numbers for each employee that needs one. “Businesses shouldn’t be spending money to spend money,” Murray said in a statement. The new tool, Bill Pay, takes another step in that direction, adding the utility of invoice processing that the company said takes tasks like manually sending checks or initiating an account transfer off the plates of finance managers.

The end goal, Murray said, was to eventually have the entirety of business financial management “roll through Divvy.”

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For more information on Divvy visit LAKE CITY - When a new product beta test shows 7,500% month-over-month growth, it’s a great indicator a company is on to something.īut that’s become familiar territory for the fast-growing Utah expense management platform Divvy, and on Thursday the company announced a new, integrated bill-paying tool has been added to its cloud-based suite.īack in April and following the announcement of a whopping $200 million Series C funding round, Divvy co-founder and CEO Blake Murray told the Deseret News the company was going to finance product development and engineering with a “maniacal focus” on creating solutions for finance officers in the small- to mid-size business market. With Divvy, you can make informed cash flow decisions, curb losses before they happen, and never save a receipt again. By integrating real-time tracking for every business transaction, Divvy provides organizations with instant insight into their spend. We know that the sky’s the limit with Divvy and we’re excited to see how high we can go.” About Divvy:ĭivvy is a secure financial platform for businesses to manage payments and subscriptions, build strategic budgets, and eliminate expense reports. “We understand that speed is our greatest asset and we’re committed to delivering truly fantastic product enhancements that will continue to raise the bar for the payment industry as we continue to scale and grow. “We’re so proud of the team we’ve built and the amazing product we have developed,” said co-founder and CEO Blake Murray. Within the Divvy web and mobile app, businesses can proactively cap corporate credit card spend, automate expense reports, and track transactions in real-time-all at zero cost. Previous members of Utah Valley BusinessQ’s Top Startups to Watch also include Grow, Purple, and Taft.ĭivvy is an end-to-end solution that turns the status quo for budgeting and expense reporting on its head. Last year, Podium, online customer interaction, and reputation management software, held first place. Under terms of the news release distributed yesterday (after trading on Wall Street closed), Lehi, Utah-based Divvy has agreed to be purchased for 1.875 million shares of and 625 million in cash. This award comes on the heels of their recent $10 million Series A and $35 million Series B funding rounds.Įach year, Utah Valley BusinessQ names the Top Startups to Watch in Utah Valley. Divvy, a leading next-gen corporate spend management platform, was today named the number one Startup to Watch by Utah Valley BusinessQ.

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