Portland-based Certify buying San Fran startup
Certify Inc., a Portland-based provider of travel and expense software that underwent a merger with a Los Angeles company less than six months ago, is now acquiring a startup in San Francisco.
Certify and Chrome River Technologies Inc., which joined forces March 5 in a private transaction valued at over $1 billion, according to the companies, will buy Emburse Inc., which provides virtual and physical corporate expense cards.
Terms of the Emburse deal were not disclosed in Monday's news release about the deal.
Emburse has processed hundreds of millions of dollars of corporate expenditures over tens of thousands of credit cards, while doubling its revenue every year, according to the release.
“Joining such a prestigious portfolio of travel, expense and invoice management brands will greatly accelerate our ability to expand Emburse’s reach,” said Emburse CEO Peter Lai in the release. “We share a common goal in helping organizations control employee spending and reduce expense fraud, all while providing a user-friendly and flexible solution to both frequent and infrequent card users.”
The Emburse solution will initially be integrated with the Abacus expense management software which is one of a half dozen platforms offered by Certify Inc./Chrome River, the merged company.
“The acquisition of Emburse demonstrates our continued commitment to bringing valuable innovation that benefits our customers, their employees, and prospective employees, across our brands,” said Nord Samuelson, president of Certify Inc./Chrome River.
Certify Inc./Chrome River is the world’s largest independent provider of travel, expense and payment solutions, according to the release. The two merged businesses operate somewhat separately, but say that together they have a customer base of over 11,000 companies.
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