Overview
BILL is a cloud-based AP/AR automation platform founded in April 2006 as Cashboard, Inc. by René Lacerte (CEO, fourth-generation entrepreneur who previously founded PayCycle, acquired by Intuit in 2009). The company went public on NYSE in December 2019 and has grown through major acquisitions including Divvy ($2.5B, June 2021), Invoice2go ($625M, September 2021), and Finmark (2022).
Highlights
- Founder story: René Lacerte’s multi-generation entrepreneurship, PayCycle exit to Intuit
- Public company trajectory: December 2019 NYSE IPO, ~$1.5B annual revenue (2025)
- Acquisition strategy: Divvy ($2.5B), Invoice2go ($625M), Finmark roll-ups creating comprehensive platform
- AI-enabled software: Machine learning connecting suppliers and clients through millions of network members
- “Automate the future of finance” mission: Helping businesses flourish through automation
- Target market: SMBs, accounting firms, financial institutions
- Platform breadth: AP automation, AR automation, spend & expense (Divvy), invoicing (Invoice2go)
- Use cases: Invoice processing, payment scheduling, vendor management, cash flow optimization
Founded
April 2006 as Cashboard, Inc.. Founded by René Lacerte (CEO; previously founded PayCycle, acquired by Intuit in 2009).
Headquarters
San Jose, California.
Ownership and funding
Public (NYSE: BILL, December 2019). Acquired Divvy ($2.5B, June 2021), Invoice2go ($625M, September 2021), Finmark (2022).
Core technology
Cloud-based SaaS for AP/AR automation. AI-enabled platform connecting suppliers and clients through a network of millions of members.
Market position
SMBs, accounting firms, financial institutions; ~$1.5B annual revenue (2025).
Product philosophy
“Automate the future of finance so businesses can flourish”.