The startup targets the midmarket with its spend software, helping companies control what Hoag views as a business process problem, not merely an ability-to-spend issue. The rising complexity of running companies in the aftermath of COVID-19 and its economic disruptions has been a boon for the startup, with Teampay seeing its sales cycle cut in half, the CEO said, and bigger companies coming to its door, looking for help. This has gotten harder in 2020, as companies went from having an office with many employees to many employees in home offices. Teampay, Hoag said in an interview, wants to help companies control their bank accounts.
Tribe leads $12M Series A into Teampay to make managing employee expenses painless
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