Invoice2go

Last updated

Invoice2go
Company type Subsidiary
Founded2002  OOjs UI icon edit-ltr-progressive.svg
FounderChris Strode  OOjs UI icon edit-ltr-progressive.svg
Headquarters
Sydney, Australia and Palo Alto, CA, United States
Area served
Worldwide
Key people
Mark Lenhard (CEO), Sean Deorsey (CFO)
Number of employees
105 [1]
Parent Bill.com
Website invoice.2go.com

Invoice2go is a mobile and web app designed as a simple invoicing, expense-tracking, and reporting tool for micro and small business owners. Headed by Silicon Valley veterans CEO Mark Lenhard[ citation needed ] and CFO Sean Deorsey, [2] this software processes $24 billion in transactions each year and is used by over 220,000 customers in more than 160 countries. It was acquired by Bill.com in 2021. [3]

Contents

Invoice2go is dually headquartered in Silicon Valley, California and Sydney, Australia.

Invoice2go's features include tools to simplify estimates, invoicing, expense tracking, managing online payments, building an online presence, and more. The software is cloud-based and has 4 subscription tiers – Lite, Standard, Advanced, and Unlimited – based on the number of invoices, clients, and account managers.

Invoice2go currently has a 4.4 rating on TrustPilot. [4]

History

Invoice2go was founded in Erina, Australia in 2002. In 2009, the software went live on the iTunes app store, and by 2011, it was ranked among the top 10 business apps.[ citation needed ]

In 2014, Greg Waldorf, former CEO of eHarmony and Accel, took the lead as CEO of Invoice2go. Bizjournals reported his appointment was part of the company's expansion plan.[ citation needed ]

In 2015, The New York Times highlighted Invoice2go as one of the primary Australian and New Zealand companies attracting investors from Silicon Valley. [5] Invoice2go also passed the milestone of having the total number of users send more than one million invoices per month. [6]

Invoice2go raised $10 million from new and existing investors in 2018. Hemi Zucker from OCV Partners also joined the board of directors. [7]

In 2020, Mark Lenhard (former SVP of Strategy & Growth at Magento) took over as CEO of Invoice2go. Greg Waldorf continues to serve on the company's board of directors.[ citation needed ]

In February 2021, Invoice2go brought on Sean Deorsey as CFO. [2] He brings experience from previous financial leadership positions at high-growth companies, including Optimizely, and has guided notable companies through acquisitions and initial public offerings.

In April 2021, The Financial Technology Report named Mark Lenhard as one of the 50 fintech CEOs of 2021. [8]

Throughout the COVID-19 pandemic, Invoice2go was praised for helping small businesses adapt by enabling them to accept online payments easily. [9]

Product

Invoice2go is available on the web, iOS, and Android. All documents instantly sync across all devices via the cloud.

Invoice2go allows users to create custom invoices and estimates, accept online payments, and get business reports. The software also has features to track time and expenses and manage appointments.

In 2020, the company released new features that allow users to create an instant website and collect detailed customer reviews more easily. [10] The company has also recently rolled out new features that simplify online payments and enable users to accept tips.

Related Research Articles

<span class="mw-page-title-main">Accounts payable</span> Money owed by business to its suppliers

Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. An accounts payable department's main responsibility is to process and review transactions between the company and its suppliers and to make sure that all outstanding invoices from their suppliers are approved, processed, and paid. The accounts payable process starts with collecting supply requirements from within the organization and seeking quotes from vendors for the items required. Once the deal is negotiated, purchase orders are prepared and sent. The goods delivered are inspected upon arrival and the invoice received is routed for approvals. Processing an invoice includes recording important data from the invoice and inputting it into the company's financial, or bookkeeping, system. After this is accomplished, the invoices must go through the company's respective business process in order to be paid.

<span class="mw-page-title-main">Intuit</span> American financial software company

Intuit Inc. is an American multinational business software company that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. Intuit's products include the tax preparation application TurboTax, personal finance app Mint, the small business accounting program QuickBooks, the credit monitoring service Credit Karma, and email marketing platform Mailchimp. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States.

QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.

<span class="mw-page-title-main">Salesforce</span> American software company

Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, e-commerce, analytics, and application development.

<span class="mw-page-title-main">NetSuite</span> Technology company

NetSuite Inc. is an American cloud-based enterprise software company that provides products and services tailored for small and medium-sized businesses (SMBs) including accounting and financial management, customer relationship management, inventory management, human capital management, payroll, procurement, project management and e-commerce software. NetSuite was founded in 1998 with headquarters in Austin, Texas. The company is widely seen as the first cloud computing software company, with its founding pre-dating that of Salesforce by about a month. Oracle Corporation acquired NetSuite for approximately US$9.3 billion in November 2016. The Oracle NetSuite Global Business Unit is managed by Executive Vice President Evan Goldberg as "Oracle’s Cloud ERP for Small and Mid-sized Enterprises with the ability to scale to Fortune 500 firms."

<span class="mw-page-title-main">Xero (company)</span> Accounting software company

Xero is a New Zealand–based technology company that provides cloud-based accounting software for small businesses. The company has offices in New Zealand, Australia, the United Kingdom and the United States. Xero's products are based on the software-as-a-service model and sold by subscription, based on the type and number of entities managed by the subscriber. The products are used in over 180 countries.

Trustpilot Group plc, is a Danish consumer business operating a review website founded in Denmark in 2007 which hosts reviews of businesses worldwide. Nearly 1 million new reviews are posted each month. The site offers freemium services to businesses. It has been criticised for the publication of fake reviews, and allowing companies to remove negative reviews. Trustpilot is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

WorkingPoint is a web-based application providing a suite of small business management tools. It is designed to offer a single point-of-access for all business management needs while offering a user-friendly interface. WorkingPoint’s functionalities include double-entry bookkeeping, contact management, inventory management, invoicing and bill & expense management.

Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Shopify is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. The Shopify platform offers online retailers a suite of services, including payments, marketing, shipping and customer engagement tools.

<span class="mw-page-title-main">Zoho Corporation</span> Indian multinational technology company

Zoho Corporation is an Indian multinational technology company that makes computer software and web-based business tools. It is best known for the online office suite offering Zoho Office Suite. The company was founded in 1996 by Sridhar Vembu and Tony Thomas and has a presence in seven locations with global headquarters in Chennai, Tamil Nadu, India, and corporate headquarters outside of Austin in Del Valle, Texas. Radha Vembu, Sridhar Vembu's sister, owns a majority stake in the company.

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American payment technology company

Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

Zuora is an American enterprise software company headquartered in Redwood City, California that creates and provides software for businesses to launch and manage their subscription-based services. Zuora's applications are designed to automate recurring billing, collections, quoting, revenue recognition, and subscription metrics. Tien Tzuo, a co-founder of the company, has served as its CEO since 2007.

<span class="mw-page-title-main">Act-On</span> American software company

Act-On Software is a software-as-a-service product for marketing automation. The company is headquartered in Portland, Oregon and was founded in 2008, originally retailing its software exclusively through Cisco, which provided $2 million in funding.

<span class="mw-page-title-main">Wave Financial</span> Canadian provider of financial software and services for small businesses.

Wave is a company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighborhood in Toronto, Canada.

Bright Market, LLC, dba FastSpring, is a software as a service (SaaS) company that offers a full service e-commerce platform for companies that sell software and other online digital products.

Clinkle was a mobile payments company founded in 2012. In 2013 they raised $25 million and the product launched to college students on September 24, 2014.

Jumio is an online mobile payment and identity verification company that provides card and ID scanning and validation products for mobile and web transactions, which they sell as "Netverify Trusted Identity as a Service".

BILL Holdings, Inc. is a company based in San Jose, California, that provides automated, cloud-based software for financial operations. A white-labeled, end-to-end payments automation platform, Bill.com Connect is offered to financial institutions as part of their single sign-on online business banking ecosystem.

<span class="mw-page-title-main">Podium (company)</span> American software company

Podium is a private technology company headquartered in Lehi, Utah that develops cloud-based software related to messaging, customer feedback, online reviews, selling products, and requesting payments.

Brex Inc. is an American financial service and technology company that offers business credit cards and cash management accounts to technology companies. Brex cards are business charge cards, which require at least $50,000 in a bank account if professionally invested, if not with $100,000 to open, and cardholders who default won't damage their personal credit or assets. Emigrant Bank issues the Brex cards.

References

  1. ↑ Herber, Alex (20 April 2015). "SIX MONTHS ON: Here's how Invoice2Go is handling life after landing $35 million funding". Business Insider. Retrieved 30 May 2015.
  2. 1 2 "Invoice2go Brings On CFO Sean Deorsey To Support Business Growth". GlobeNewswire News Room (Press release). 18 February 2021. Retrieved 19 April 2021.
  3. ↑ Heller, Matthew (26 July 2021). "Bill.Com Buys Invoice2go to Boost AR Offerings". CFO .
  4. ↑ "Invoice2go is rated "Excellent" with 4.4 / 5 on Trustpilot". Trustpilot. Retrieved 19 April 2021.
  5. ↑ Cole, Brett (29 May 2015). "Australian Start-Ups Lure Silicon Valley Money". The New York Times. ISSN   0362-4331 . Retrieved 19 April 2021.
  6. ↑ "One Million Invoices per Month Created with Invoice2go Points to Widespread Global Adoption of Mobile Invoicing among Small and Microbusinesses". www.prnewswire.com (Press release). Retrieved 19 April 2021.
  7. ↑ "Invoice2go Raises $10 Million, Attracting New and Existing Investors, and Hemi Zucker from OCV Partners to join the Board of Directors". www.prnewswire.com (Press release). Retrieved 19 April 2021.
  8. ↑ jirehl (28 April 2021). "The Top 50 Financial Technology CEOs Of 2021 | The Financial Technology Report" . Retrieved 29 April 2021.
  9. ↑ "New world, new business: 5 ways small businesses are adapting to COVID". The Philadelphia Sunday Sun. 22 January 2021. Retrieved 19 April 2021.
  10. ↑ "Introducing: Customer Reviews & Your Very Own Website. Be Seen and Be Heard". Invoice2go. 26 November 2020. Retrieved 19 April 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.