Teampay crossed a lot of milestones this year. We grew our customer base. Went 100% remote. Launched innovative product features. Questioned why pajamas pants weren’t always considered business casual. Raised a funding round. Had a virtual paint ‘n sip. Announced ground-breaking integrations. And, most importantly, helped finance teams get total control and real-time visibility into company spend. Below are some of the highlights.

 

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We released 659 product updates and new features

Teampay’s patented technology (U.S. Pat. No. 10,755,339) delivers a user-friendly workflow that aligns spenders and finance, collects critical data, integrates it into legacy systems, and provides safe, intelligent payments.

We launched ground-breaking partnerships

Teampay launched integrations with Amazon Business Ironclad, and Zapier to provide a modern procurement solution that can seamlessly transmit data with thousands of other platforms. We also developed and expanded our partnerships with Eventus Advisory Group and Tipalti.

We raised additional funding

After growing 320% in ARR, Teampay raised a Series A-1 extension led by FinVC. The round was oversubscribed and closed at a significant uptick in valuation. We are leveraging these funds for continued innovation and deeper capabilities in the spend management space.

We grew our customer base – and had a huge impact

Teampay experienced a 800% increase in spend under management (SUM). Our software reduced the time spent on purchasing by 1/3, and the number of monthly users making purchase requests on the platform grew 89% – and our customers were eager to share their success stories.

We engaged the community

Teampay launched Controller Collective, a community designed exclusively for Controllers and Senior Accounting professionals. We also hosted the first-ever Agile Finance Summit and sponsored numerous other conferences, including Sage Intacct Advantage.

We gained industry recognition

Teampay received honors from Spend Matters, G2 Crowd, and Ardent Partners. Our achievements and insights appeared in numerous top-tier publications, including Forbes, TechCrunch, Brainyard, and Inc.

We noticed some spend trends

The shift to remote work may have cut down on in-office expenses, but that doesn’t mean that all spending on office supplies and food ceased. Teampay data showed a 7,121% increase in business spend on items to help employees work from home and a 193% increase in business spend on food delivery services this year.
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