Center, a software company helping businesses gain visibility into and manage employee spending, has raised an additional $15m in Series B funding.
On the heels of funding, Center also 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.
Center is on a mission to help businesses gain visibility into and manage employee spending.
The company’s core offering, Center Expense, is an integrated corporate card and expense solution used by small and medium-sized enterprises.
The company said the solution saves time, improves operations and compliance, and delivers real-time insights to finance teams for better decision making. Center is a privately held company headquartered in Bellevue, WA with team members nationwide.
Center said that fiscal discipline and intentional growth have enabled it to garner and uphold positive business momentum, weathering the headwinds of economic uncertainty and a turbulent fundraising landscape.
The funding brings the total capital raised by the company to more than $110m.
Center said the investment will be used to scale the business, expand its product offerings and bolster innovation in other areas of spend management.
Ken Cornick, co-founder and president of CLEAR, said, “Transparency and timeliness of expenses are essential for leaders to make actionable decisions about their business. Center delivers a modern tool that streamlines and automates the expense process, addressing the pain points of an underserved SME market wanting to tighten control of the bottom line.
“Center’s success is demonstrated by strong adoption and retention, and I look forward to seeing the team continue to empower customers with innovative solutions for all of their expense management needs.”
Korea Credit Data (KCD), which provides business management services to self-employed and small business owners nationwide, has raised $24.7m in an extension of its Series D round.
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