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Digits for Expenses enables business owners to check financial reports in real-time and automatically analyze costs to evaluate the activity, trends, and anomalies. Everything is encrypted for security
Fremont, CA: Fast-moving Silicon Valley FinTech startup Digits raised $22 million in Series B round of financing led by GV — formerly known as Google Ventures — to launch its new expense monitoring dashboard, revealed a blog post the company published recently.
Digits hails from the same team that built and sold Crashlytics to Twitter in 2013. Its new web application for expense monitoring is available to small businesses for free of charge. Digits for Expenses enables business owners to check financial reports in real-time and automatically analyze costs to evaluate the activity, trends, and anomalies. Everything is encrypted for security.
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“We are obsessed with the vision that business finance should be immediately accessible and intuitive,” Digits Co-Founders Jeff Seibert and Wayne Chang said in the blog post. “It should learn in real-time as the business evolves, and it should empower business owners and operators everywhere, without requiring any prior financial training.”
“Jeff and Wayne are masterful at creating intuitive, high-utility products from complicated data,” said GV’s Jessica Verrilli about the investment in the blog post. “I saw this up close with Crashlytics and Twitter, and I’m thrilled to partner with them on Digits as they reimagine financial software for startups.”
The company’s expense monitoring dashboard is powered by machine learning (ML) and geared toward startups and small businesses. The dashboard can help enterprises to monitor spending by vendor, category, and recurring expenses with real-time alerts.
“Digits is a phenomenal and truly game-changing product,” said Kenny Mendes, head of finance, people, and operations at Coda, according to the blog post.
Business owners can seamlessly switch to Digits and connect with services a company already deals with — accounting, lenders, payroll, financial, and many more.
In November, Digits raised $10.5 million from Series A funding round led by Benchmark.
See also: Top FinTech Solution Companies
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