Expense management system providers Abacus Labs and Expensify in June agreed to end a patent infringement suit brought by the latter a year earlier. The suit sought to recover damages from Abacus’ alleged infringement of Expensify patents related to scanning receipts and matching them to credit card data. The U.S. District Court for the Southern…
[UPDATE, Sept. 7, 2017: Expense management system provider Certify bought nuTravel’s online booking system. It will offer the tool as part of Certify Enterprise Travel. The two companies announced a partnership for that product in July. The expense management system provider already offers booking tech to small businesses under the Certify Travel brand. NuTravel will…
[UPDATE, August 1, 2018: Abacus and Expensify agreed to dismiss all claims. More information here.] [UPDATE, Aug. 18, 2017: Abacus Labs Inc. asked the U.S. District Court for the Southern District of New York to dismiss Expensify’s claims because, Abacus argued, the patents in question are not valid. “These patents are directed to the abstract…
June was a huge month for two of Concur’s California-based competitors. Coupa raised $80 million at a valuation of $1 billion. Chrome River picked up $100 million, declining to disclose its assessed worth. Enterprise tech is attracting venture capital as established and new providers exploit mobile and cloud technology. The moves also reflect a competitive expense management software…
Expensify CEO David Barrett likes dissing corporate booking tools, and seems to consider travel management his competition. He proudly opines that expense will “eat” corporate travel. Expensify for the most part has ignored traditional enterprise sales as it targets the end user with its expense app. Popular with startups and “unicorns,” Expensify recently signed Yahoo and its 12,000 users, showing a desire to…
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