Center, a Bellevue, WA-based software company helping businesses gain visibility into and manage employee spending, announced that it completed its series B funding round with an additional $15 million from existing investors, bringing its total funding to more than $110 million.
The fund will be used to scale the business, expand product offerings, support the evolving needs of a growing SME customer base, and bolster innovation in other areas of spending management.
"We embrace growth with discipline as the most sustainable business model," said Naveen Singh, CEO, and Co-Founder of Center. "We're committed to closely partnering with customers to deeply understand their expense management needs, delivering long-term value that unlocks new levels of productivity across organizational processes."
Center's core offering is Center Expense, an integrated corporate card, and spending management tool which uses automation to capture spending as it happens, providing real-time visibility and flexible spending controls.
On the heels of funding, Center appointed travel industry innovator and CLEAR Co-Founder and President Ken Cornick to its Board of Directors. Cornick joins fintech luminary and former Concur Founder and CEO Steve Singh, who currently serves as Executive Chairman and Co-Founder of Center.
Company: Center ID Corp
Round: Series B
Funding Month: October 2022
Lead Investors: Undisclosed
Company Website: https://getcenter.com/
Software Category: Expense Management
About the Company: Center is a software company helping businesses gain visibility into and manage employee spending. Its leadership shaped the first wave of spend management innovation and created Center to deliver a more cost-effective and modern way to automate expense processing for mid-market companies. Center Expense, our core offering, is an integrated corporate card and expense solution used by small and medium-sized enterprises to save time, improve operations and compliance, and deliver real-time insights to finance teams for better decision-making. Center is a privately held company headquartered in Bellevue, WA, with team members nationwide.