“We expect all of those segments to grow,” Friedrichsen told TechCrunch.
Faraday.ai and Apartment Life are examples of its current SMB customers.
Today, SMBs make up about 15% of Emburse’s customer base, while 35% are midmarket companies and 50% enterprise. In the company’s view, the needs of say, an Exxon Mobil, is “so different than what Pinterest needs.” “There’s real demand in the market for a company of scale that can really address the tailored needs of a specific type of organization by size and geography.”
“This is a big differentiator for us,” said Emburse CEO and Concur alum Eric Friedrichsen. The company has three core offerings: Emburse Chrome River, which is focused on the enterprise Emburse Certify, which serves midmarket companies and its newest one, Emburse Spend, which is geared toward SMBs. The three companies were combined to form what is today Emburse. In 2019, a company called Certify’s private equity owner, K1, acquired Emburse and another company called Chrome River that did spend management and invoice automation in the enterprise space. The company that was originally called Emburse was on the Disrupt stage in 2015 and issued prepaid cards quickly to employees. The company touts that with Emburse Spend, managers can issue cards “at any time without waiting for finance’s approval.”Įmburse’s history is a bit complex so we’ll try to simplify it for you. The goal with Emburse Spend is to “transform the corporate card from an executive status symbol into an everyday tool for teams.” It's aimed at employees who are "constantly" making small purchases, like software subscriptions, instead of expensing a few business trips a year. But in time, more of these corporate spend players are evolving into being both. In the increasingly crowded, and very competitive, corporate spend space, companies have either been predominantly subscription-focused or fee-based.
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