Tech News: Expensify goes public

November 22, 2021 10:14 AM

Expensify listed on Nasdaq; multiple accounting, tax and financial software providers go through funding rounds; Swizznet launches Swizzstack; updated crypto accounting from Cryptio; a new feature release and test drive experience for Accounting Seed; and more in the world of accounting technology.

Expensify goes public

Expense management company Expensify listed its shares on the Nasdaq earlier this month, under the ficker symble EXFY, and flew all 140 of its employees to New York to celebrate, while CEO Dave Barrett rang Nasdaq's closing bell.

IT for all

Hosting solutions provider Swizznet launched a technology services and support solution for small and midsized businesses, dubbed SwizzStack that offers outsourced IT management, cybersecurity solutions, and hardware support.

Accounting and tax startups raising cash

U.K.-based startup Pixie raised $3 million. The company is building an "operating system" for accounting and bookkeeping firms, centalizing and automatiing their processes in a single platform, and will use the money to expand its team, increase its platform's features and integrations, and support growing demand. The funding round was led by Triple Point Ventures, with participation from Seedcamp, MMC Ventures and several serial entrepreneurs and angel investors. ... Fonoa, a global tax automation provider, raised $25 million to expand its global tax solutions. The company is focused on helping digital companies stay compliant in cross-border transactions, offering a plug-and-play modular platform with a simple API solution that integrates into the user's workflows. Investors in the round included Index Ventures, OMERS Ventures, FJ Labs, Moving Capital, Gautam Gupta (a former COO and CFO at Opendoor and Uber), Kevin Hartz (founder at Eventbrite), Prabir Adarkar (CFO at Doordash), Carlos Gonzalez-Cadenas (former COO at GoCardless), Allison Barr Allen (COO at Fast) and others. ... Practice Ignition raised $50 million (see the full story.)

An update and a test drive

In its latest release, Salesforce-powered accounting solution Accounting Seed has added a new consolidations feature, allowing users to natively combine the assets, liabilities and financial data from different legal entities. The release also included updates to its Bank Direct connect feature, bank reconciliation capabilities, and permission set features. The company also launched a Test Drive experience on the Salesforce AppExchange.

Updated crypto accounting

Paul Yeung/Bloomberg

Cryptio has launched an enterprise-grade update to its crypto ccounting software platform, called Ionic, which aims to help businesses and institutions merge complex on-chain activity with their general ledger. It can import data from a wide range of sources, sources valuations directly from exchanges at the exact time of a transaction, and offers one-click integration with Xero and QuickBooks, among other features.

Real-time subscription revenue

Subscription management platform provider Zuora launched Real-Time Revenue for Zuora Revenue. It includes a new Close Process Dashboard that continuously reconciles revenue, and immediately identifies and escalates any errors that need to be resolved.

Real-time insights for small biz

Financial data and analytics solution provider Nuula added Financial Health to its app, a feature that let's small-business users get real-time insights from their data in accounting platforms like QuickBooks, FreshBooks, and Wave.

A new plan for approvals

Approval automation app ApprovalMax has created a new plan for organizations looking for even more control over their approvals process: ApprovalMax Advanced includes features for budget checking, approving suppliers, and auto-approvals.

LeaseCrunch gets SOC certifications

Lease accounting software provider LeaseCrunch has successfully completed its SOC 1 and SOC 2 audit examinations, which were performed by Top 100 Firm Marcum.