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§ Private Profile · 14 N San Mateo Dr, San Mateo, California, 94401, United States
Cloud-based procure-to-pay and AP automation platform for mid-market and enterprise finance and procurement teams.
Founded in 2015 by Benjamin Portusach, Mike Blatt, Mike Hang, Vinh Pham, and Reena Turak, Accrualify develops cloud spend management and accounts payable automation software for mid-market and enterprise companies. The SaaS platform utilizes artificial intelligence and machine learning to streamline complex procure-to-pay processes, including purchase order management, vendor portals, invoice processing, and corporate card payments. Prior to its acquisition, the San Mateo company reached 10,000 users and secured $4.05 million in total venture funding, highlighted by a $3.2 million Series A round led by Aligned Partners. The software provider formed strategic partnerships with Silicon Valley Bank and Transferwise, while also attracting early seed investment from Swan Venture Fund and Scott Lee. In April 2022, the business was acquired by the global corporate payments company FLEETCOR, which subsequently rebranded to Corpay in March 2024.
Accrualify has raised $4.4M across 3 funding rounds.
Accrualify has raised $4.4M in total across 3 funding rounds.
Accrualify has raised $4.4M in total across 3 funding rounds.
Accrualify's investors include Aligned Partners, Scott Lee, SWAN Venture Fund, Swan Venture Fund.
Accrualify has raised $4.4M across 3 funding rounds. Most recently, it raised $3.2M Series A in September 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 11, 2018 | $3.2M Series A | Aligned Partners | — | Announced |
| May 9, 2017 | $600K Venture Round | Scott LEE, SWAN Venture Fund | — | Announced |
| May 1, 2017 | $600K Seed | — | SWAN Venture Fund | Announced |
Accrualify is a financial technology company that builds a cloud-based procure-to-pay (P2P) and accounts payable automation platform. Its software suite serves mid-market to enterprise-level companies by automating and streamlining financial processes such as purchase orders, accruals, invoices, payments, vendor management, expense reimbursements, corporate cards, and budgeting. The platform leverages artificial intelligence (AI) and machine learning to reduce manual effort and improve accuracy in corporate finance operations, addressing common pain points like month-end accruals and invoice processing. Accrualify’s solutions enhance spend control, financial transparency, and operational efficiency, supporting finance teams in making better decisions and managing cash flow effectively[1][2][4][5].
Founded in 2015 in San Mateo, California, Accrualify was created to tackle inefficiencies in corporate finance, particularly in accrual tracking and B2B payments. The founders identified a gap in the market for a comprehensive, AI-driven platform that could automate the entire procure-to-pay cycle rather than focusing solely on procurement or invoice processing. Over time, the company expanded its product offerings to include purchase order management, vendor portals, virtual corporate cards, and budgeting tools. Early traction came from mid-market companies seeking to automate manual finance workflows, with notable customers including BitTorrent and Getaround. In 2022, Accrualify was acquired by FLEETCOR, signaling its growing influence in fintech spend management[2][6].
Accrualify rides the growing trend of digital transformation in corporate finance, particularly the automation of procure-to-pay and accounts payable processes. The timing is favorable due to increasing demand for operational efficiency, cost control, and real-time financial visibility in mid to large enterprises. Market forces such as the rise of AI, cloud computing, and the need for remote financial management post-pandemic support Accrualify’s growth. By automating complex financial workflows, Accrualify influences the broader ecosystem by enabling finance teams to shift from manual tasks to strategic activities, thus accelerating digital adoption in corporate finance departments[1][4][6].
Looking ahead, Accrualify is poised to deepen its AI capabilities and expand its product suite, potentially integrating more advanced analytics and predictive financial insights. The company’s acquisition by FLEETCOR may accelerate its global reach and innovation in spend management solutions. Trends such as increased regulatory scrutiny, demand for transparency, and the rise of virtual payment methods will likely shape Accrualify’s evolution. Its influence is expected to grow as more organizations prioritize automation and data-driven financial management, positioning Accrualify as a key player in the future of corporate finance technology[1][2][4].