Stanford-backed expense management platform Jeeves has received series B funding, two months after emerging from stealth.
Jeeves, a US-based operator of an expense management platform for startups backed by Stanford University, has raised $57m in a series B round led by CRV.
Internet company Tencent, Silicon Valley Bank, Alkeon Capital Management, Soros Fund Management and more than a dozen angel investors also took part in the round, which valued Jeeves at $500m.
Jeeves has built an all-in-one expense management platform specifically aimed at startups operating across different geographies. It is offering its services in markets including the US, Mexico and it will use the series B capital to launch in Colombia and Europe.
The money will also allow Jeeves to scale its infrastructure and process additional currencies, recruit more staff and accelerate the onboarding of clients. Jeeves claims to have a waitlist of more than 15,000 potential customers.
The company emerged from stealth in June 2021, revealing a $26m series A round led by Andreessen Horowitz, with participation from Stanford University, YC Continuity Fund, Urban Innovation Fund, Uncorrelated Ventures, Clocktower Ventures, 9 Yards Capital, BlockFi Ventures and angel investors.
William Hockey had contributed to a $5m seed round in 2020, but further details have not emerged.
