K1 invests over $125 million to form largest independent expense management software company

K1 invests over $125 million to form largest independent expense management software company

K1 Investment Management is pleased to announce it has combined expense management software leaders Certify, Nexonia, ExpenseWatch and Tallie to create the largest independent company in the expense management software space.

The combined business will better serve its more than 7,500 enterprise, mid-market and SMB customers with expanded offerings to reduce administrative overhead associated with employee time, travel and expenses. Near-term priorities include increased investment in product capabilities, expansion of geographic reach and growth of a team of subject matter experts. The combination of Certify, Nexonia, ExpenseWatch and Tallie creates the world's largest expense management software company behind Concur, which was acquired in 2015 by SAP.

The merger is majority backed by K1, an investment firm focused on enterprise software companies globally. K1 has invested over $125 million of equity behind the combination, with additional capital available for further acquisitions.

Read the full press release here.