Airbase

Airbase is a spend management platform that integrates bill pay, accounts payable automation, expense management, corporate cards, and procurement capabilities. Founded in 2017, the company offers a comprehensive solution for managing all non-payroll spend within organizations. Airbase's platform features automated invoice processing, purchase order matching, real-time expense management through web and mobile apps, and the issuance of physical and virtual corporate cards with spend controls. The system supports connected workflows across critical business processes with an intuitive approvals engine and provides robust integrations with major enterprise resource planning (ERP) and general ledger systems.

The platform is designed to help finance teams automate manual tasks, improve visibility and control over company spending, and streamline procurement processes. Airbase's solution includes features such as automated request and approval workflows, auto-categorizations, and automatic syncing to the general ledger. The company claims that its customers have reported cutting their time-to-close in half, with some moving toward a continuous close. In September 2024, Paylocity, a cloud-based HR and payroll software solutions company, agreed to acquire Airbase for approximately USD 325 million, with the transaction expected to close in the first or second quarter of fiscal 2025.

Key customers and partnerships

Airbase serves a range of businesses, from startups to companies preparing for IPO and beyond. The platform is used by nearly 40,000 clients, according to Paylocity's statement regarding the acquisition. Airbase has been recognized in the industry, being named one of the 50 Companies to Watch by procurement analyst Spend Matters in October 2022. The company was also the recipient of the Finovate Award for Best Enterprise Payments Solution in September 2022.