Brex Closes $125 Million Series C with Investment from Greenoaks, DST Global and IVP
06/10/2018
SAN FRANCISCO October 5, 2018 Brex, the first corporate card for startups, announced today the close of a $125 million Series C funding round led by Greenoaks Capital, DST Global and IVP. Building off the momentum from its innovative underwriting and onboarding experience tailored to startups, Brex is further investing in enhancing its features, including its rewards launch later this fall. Starting today, Brex customers that sign up will start accruing points on their Brex corporate card transactions as part of its rewards beta.
We started Brex to provide a superior corporate card to startup founders failed by legacy products, said Henrique Dubugras, co-founder and CEO of Brex. With this fresh funding, we are able to enhance our growth efforts and continue to benefit founders and operators, particularly those who are unable or hesitant to personally guarantee their company's corporate card.
As the only non-personally guaranteed small business card offering in the marketplace, the Brex corporate card has become a critical part of the stack of solutions that powers startups. Since its June 2018 public launch, Brex has been investing in the core features that drive early stage technology companies to its products: instant online signup, limits 10 to 20 times higher than traditional card offerings and embedded expense and receipt management. Now, Brex will in part use its new funding to offer an ambitious rewards program tailored to the needs and spending patterns of its customers.
Brex has the opportunity to delight its customers with instant onboarding, seamless expense management and customized rewards programs that are deeply relevant to companies, founders and startups today, said Greenoaks' Managing Partner Neil Mehta. Brex is simplifying financial access for small and medium businesses beginning with startups. We are delighted to partner with Henrique and the Brex team as they build the next generation of credit card products, added DST Global Managing Partner Saurabh Gupta. Brex is off to one of the most exciting starts we've ever seen due to a combination of exceptional products, viral adoption by the target customer base and missionary founders focused on building for the long term, added IVP's Somesh Dash.
About Brex
For startups, Brex delivers corporate cards quickly, easily, and with higher limits than traditional corporate cards, instantly and with no personal guarantee. Founded in 2017 by the founders of Brazilian payments processor Pagar.me, Brex is backed by Y Combinator Continuity, Ribbit Capital, Greenoaks Capital, DST Global, IVP, Peter Thiel and Max Levchin. Brex participated in the Y Combinator Winter'17 batch. The company's headquarters are in San Francisco. For more information, visit www.brex.com.
LINK: | https://www.ivp.com/news/press-release/brex-closes-125-million-series-... |
See more stories from ivp |
More from IVP
21/02/2023
Scaling Your Product Organization
Part 1: Hiring Scaling a business for long-term success is hard - and so is finding the guidance, insight and lessons learned by those who have done it successf...
11/01/2023
DeepL: A step change in AI-powered language translation
By Eric Liaw, Karthik Ramakrishnan, Ajay Vashee and Albert Zhang, on behalf of IVP As our world becomes more interconnected, demand for high-quality language t...
02/11/2022
Roam, The Future of Remote Work
By Jules Maltz, Dennis Phelps and Shreyas Garg The shift to remote work and a geographically dispersed workforce has given companies and employees greater flex...
18/10/2022
Jasper: This Blog Post (Mostly) Wrote Itself
By Karthik Ramakrishnan, Jules Maltz, Ajay Vashee, Michael Miao and Joanne Shang, with help from Jasper.ai Every day, billions of people start their workdays t...
29/09/2022
Pigment: The true colors of next-gen business planning
By: Ajay Vashee, Somesh Dash, Michael Miao, James Black Business growth is often a function of planning and forecasting - financial, resource, product, sales, ...
15/08/2022
IVP in the Wall Street Journal: Navigating Tech Hiring
After a period of record growth, the tech sector's hiring spree seems to be coming to a close. Rising inflation and slowing demand for tech products are lea...
29/07/2022
7 Ways Founders Lead in Uncertain Times
By Somesh Dash The bear market is roiling venture capital, but the people feeling the most pressure nowadays are founders and CEOs seeing their terms change, v...
29/07/2022
Why I stopped writing, and how I found my voice again
By Cack Wilhelm Writing my way made me a better investor and partner to founders Writing, like running, is often used as an example of operating in a flow sta...
28/07/2022
BreakLine Education and IVP Team Up to Advance High Performing Talent in High Growth Companies
We are thrilled to announce a first-of-its-kind partnership between BreakLine Ed...
06/06/2022
Why you should pledge 1%
IVP recently convened a virtual roundtable of founders and CEOs to learn more about Pledge 1% and consider joining the thousands of companies that have already ...
24/05/2022
The Data Doesn't Lie: Monte Carlo and the Future of Data Observability
By Jason Kong, Cack Wilhelm, Karthik Ramakrishnan, Somesh Dash, and Tom Loverro We're thrilled to announce our investment in data observability company Mo...
03/05/2022
Traceable AI: A Revolutionary Approach to API security
By: Steve Harrick, Somesh Dash, Michael Miao, and Shreyas Garg Application Programming Interfaces (APIs) are at the forefront of software communication, workin...
19/04/2022
SEON: Kicking Fraud's Butt
By Michael Miao, Karthik Ramakrishnan, Jules Maltz, and Eric Liaw Cat and Mouse The cartoon classic Tom and Jerry tells the story of two lifelong adversari...
18/04/2022
Clipboard Health: Doing Well by Doing Good
By: Louisa Xu, Army Tunjaicon, Jules Maltz, and Tom Loverro Not many founders dedicate their lives to lifting people up the socioeconomic ladder. Wei Deng i...
14/04/2022
Obsidian and an Industry Shift
By Somesh Dash, Joanne Shang, Shreyas Garg and Cack Wilhelm IVP is proud to announce our investment in Obsidian Security, the first truly comprehensive securi...
08/03/2022
IVP stands with Ukraine
We have been shocked to witness the Russian government's horrific invasion of Ukraine unfold. At IVP, we stand in solidarity with Ukraine and condemn Russia...
14/02/2022
Inspirato: Reimagining Luxury Travel
By Todd Chaffee Today we are honored to congratulate CEO Brent Handler, President David Kallery, and the entire team at Inspirato on a successful public listi...
07/02/2022
The Starting Line
A post by Cack Wilhelm There is a Silicon Valley maxim often shared with entrepreneurs entering their public debut: the IPO is not the conclusion. It is the st...
07/02/2022
IVP Promotes Cack Wilhelm to General Partner
Menlo Park, CA - February 7, 2022 IVP, a seasoned, trusted, and understated partner for many of the technology industry's fastest-growing companies, is p...
22/12/2021
Cack Wilhelm Named on the GrowthCap's Top 40 Under 40 Growth Investors of 2021 List
Menlo Park, CA December 22, 2021 IVP is pleased to announce that Cack Wilhel...
16/12/2021
IVP 2021 in Review - Breakout Performance with 15 IPOs and $1.8 Billion Fund to Serve Hypergrowth Companies
Menlo Park, CA - December 16, 2021 - IVP shared a summary of key milestones for ...
16/12/2021
Found raises $100M in Series B funding led by WestCap
In addition to new funding, Found welcomes Chief Medical Officer and Chief Behavioral Health Officer San Francisco, CA December 16, 2021 Found, the modern ...
16/12/2021
Found: It's not just about what you lose, it's about what you find
By Jules Maltz, Joanne Shang, and Eric Liaw IVP is excited to announce our investment in Found, a digital-first weight care management company. At IVP, we are ...
14/12/2021
IVP's Hypergrowth Stories: How Attentive Changed the Conversation Between Companies and Customers
In IVP's Hypergrowth Stories series, CEOs of the fastest-growing companies s...
09/12/2021
HashiCorp: The Dawn of HCP
By Tom Loverro, Sandy Miller, Steve Harrick, and Michael Miao Congratulations to HashiCorp CEO Dave McJannet and founders Mitchell Hashimoto and Armon Dadgar a...
18/11/2021
Grammarly Reaches $13B Valuation With New Funding Round to Accelerate Communication Assistance Market Leadership
$200M round, including new investors Baillie Gifford and funds and accounts man...
16/11/2021
H1 Raises $100M Series C to Expand Footprint, Make H1 the Central Healthcare Professional Data Network for Global Healthcare Community
Led by new investor Altimeter Capital, round will help H1 increase velocity of g...
16/11/2021
IVP's Hypergrowth Story: How Amplitude Became the #1 Product Analytics Company and Will Optimize Digital Business
In IVP's Hypergrowth Stories series, CEOs of the fastest-growing companies s...
16/11/2021
IVP's Hypergrowth Stories: How Amplitude Became the #1 Product Analytics Company and Will Optimize Digital Business
In IVP's Hypergrowth Stories series, CEOs of the fastest-growing companies s...
15/11/2021
Podium Raises $201M in Series D Funding to Accelerate the Digital Evolution for Local Businesses
Additional Funding to be Invested Towards Future Growth and Innovation to Suppor...
11/11/2021
From #lovelulus to LVLU Lulus Goes Public!
By Jason Kong, Eric Liaw and Jules Maltz Today we are honored to congratulate the fashionable and amazing team at Lulus on a successful IPO. This marks the 129...
08/11/2021
Nextdoor: The Neighborhood Network
By Jules Maltz Today, we're honored to congratulate Sarah Friar and the entire team at Nextdoor on its successful public listing. Neighbors rely on Nextdoo...
04/11/2021
Yellowbrick Data Raises $75M in Series C1, Sees Adoption of Its Cloud Data Warehouse Accelerating
Yellowbrick adds investment as it attracts host of new enterprise customers to t...
04/11/2021
NerdWallet: Financial Empowerment? Turn to the Nerds
By Tom Loverro, Jules Maltz, Eric Liaw and Cack Wilhelm We're thrilled to congratulate Co-Founder & CEO, Tim Chen and Co-Founder, Jake Gibson, and the ent...
25/10/2021
IVP's Hypergrowth Stories: How Grammarly Got to 30 Million Daily Active Users
In IVP's Hypergrowth Stories series, CEOs of the fastest-growing companies s...
21/10/2021
FTX Trading Ltd. Closes $420 Million Series B-1 Funding Round
This Financing Round Raises the Company's Valuation to $25 Billion Nassau, Bahamas Oct. 21, 2021 FTX Trading Ltd. ( FTX or the Company ), owner and o...
19/10/2021
Aiven Achieves $2B Unicorn Valuation with its Series C Extension
Aiven's existing investors increase capital investment to double down the company's exponential growth and global open source innovation Helsinki, Finl...
14/10/2021
Tala Raises $145 Million Series E to Become Largest Financial Platform for the Global Underbanked
The round will fuel the rollout of new mobile-first account services and crypto ...
07/10/2021
Ajaib: Democratizing Investments in Southeast Asia
By Army Tunjaicon, Cack Wilhelm, Eric Liaw, Jules Maltz, and Louisa Xu One of the first lessons taught in Finance 101 is the value of compounding. According to...
29/09/2021
Amplitude: Making an Increasingly Digital-First World a Better Place
By Somesh Dash, Tom Loverro, Jules Maltz and James Black Today, at IVP, we are thrilled to congratulate Spenser Skates, Curtis Liu, Jeffrey Wang and the entire...
22/09/2021
Sorare raises $680M Series B to create the next sports entertainment giant leveraging NFTs
The round is led by SoftBank, with participation from Atomico, Bessemer Ventures...
22/09/2021
Sorare: The Next Generation of Fantasy Sports
By James Black, Eric Liaw, and Tom Loverro Today, IVP is proud to announce our investment in Sorare, the leader in global fantasy football powered by NFTs. We ...
13/09/2021
Papaya Global Raises $250 Million in Series D Funding at $3.7 Billion Valuation
Announces DEI Dashboard to Support Social Responsibility Tel Aviv, Israel & New York, NY September 13, 2021 Papaya Global, the industry-leading workforce m...
01/09/2021
Checkr Raises $250 Million at $4.6 Billion Valuation to Build Hiring Infrastructure for the Future of Work
San Francisco, CA September 1, 2021 Checkr, a leading HR technology company ...
30/08/2021
WHOOP Raises $200 Million Financing Led by SoftBank Vision Fund 2 at $3.6 Billion Valuation
Boston, MA Aug. 30, 2021 WHOOP, the human performance company, today announc...
30/08/2021
IVP Adds Shreyas Garg and Joanne Shang as New Investors to the Team
Menlo Park, CA - August 30, 2021 - IVP, a premier later-stage venture capital and growth equity firm, is pleased to announce two new additions to its investment...
25/08/2021
Cribl Raises $200M in Series C Funding on Traction with Global Enterprise Customers, Vision to Unlock Value of all Observability Data
Cribl is driving an Open Ecosystem of Data for enterprises; Flagship observabi...
25/08/2021
Cribl: Observing the Right Trend
By Cack Wilhelm, Jason Kong, Army Tunjaicon, Eric Liaw, and Tom Loverro We have just, today, announced a Series C investment in Cribl, and we are excited to sh...
12/08/2021
TaxBit Raises $130M Series B at $1.33B Valuation to Disrupt Legacy Tax Information Reporting
Dozens of financial institutions commit to real-time tax center solutions Salt ...
12/08/2021
TaxBit The Most Fun We've Ever Had Talking About Taxes
By Tom Loverro, Ajay Vashee, Eric Liaw, and James Black Today, IVP is proud to announce our investment in TaxBit, the leading tax and accounting software provi...