Overview
BILL Spend & Expense (formerly Divvy) was founded in 2016 by Blake Murray (CEO, former Goldman Sachs) and Alex Bean (CTO, former Adobe) in Draper/Lehi, Utah. Acquired by BILL for $2.5 billion in June 2021 after raising $417.5M (including $165M Series D from PayPal at $1.6B unicorn valuation in January 2021), the platform now operates as part of BILL in San Jose, California.
Highlights
- Founder credentials: Blake Murray’s Goldman Sachs background, Alex Bean’s Adobe experience
- BILL acquisition: $2.5B deal (June 2021) creating comprehensive SMB finance platform
- Free expense tools: Monetizes through interchange rather than software fees
- Real-time visibility: Instant spend tracking and budget enforcement
- Smart corporate cards: Granular controls preventing overspending before it happens
- “Venmo on steroids for business” positioning: Consumer-like simplicity for business
- “Salesforce for finance teams” analogy: Real-time data and proactive spend control
- Use cases: Budget management, corporate cards, expense tracking, spend controls for SMBs
Founded
2016 by Blake Murray (CEO, ex-Goldman Sachs) and Alex Bean (CTO, ex-Adobe).
Headquarters
Draper/Lehi, Utah; now part of BILL in San Jose, California.
Ownership and funding
Acquired by BILL for $2.5B (June 2021). Raised $417.5M including $165M Series D from PayPal (January 2021).
Core technology
Real-time visibility with instant spend tracking. Smart corporate cards with granular controls. Budget enforcement that prevents overspending before it happens. Free expense tools (monetizes interchange).
Market position
SMBs; “Venmo on steroids for business”.
Product philosophy
“What Salesforce is to sales teams, Divvy is for finance teams”, real-time data and proactive spend control.