Certify acquires Abacus
Certify, which makes travel and expense software, has acquired Abacus, a time expense reporting solution provider. Financial terms were not disclosed.
Certify, which was purchased last year by K1 Investment Management and merged with Nexonia, ExpenseWatch and Tallie, is taking a multi-brand approach in its effort to change the expense management landscape. Adding Abacus to its product portfolio allows Certify, which reportedly supports more than 10,000 enterprise, mid-market and small to midsized customers in North America, to accelerate its growth and serve a more diverse range of customers.
Abacus was founded in 2013 by Omar Qari, Josh Halickman and Ted Power. Today, the company serves a reported 1,000 plus customers. Abacus’ technology suggests expenses to users by leveraging data and previous behavior, bypassing the traditional expense report to provide real-time visibility into company spend.
“We are thrilled to join Certify’s family of brands. Teaming up with Certify will give our team the opportunity to grow Abacus’ market presence by leveraging Certify’s resources and expertise,” stated Qari, CEO of Abacus. “Learning more about how aligned our vision is with Certify’s helped us realize that the fastest way to achieve our goals was to join their organization.”
“Acquiring Abacus strengthens and expands our management team, product set and domain knowledge,” added Robert Neveu, founder and CEO of Certify. “The company’s real-time expense management solution is unlike anything else in the marketplace. Omar and his team have done a tremendous job building Abacus and we look forward to helping them continue to grow their business while enhancing Certify’s leadership position in the spend management space.”