Airbase
Also a provider — view Airbase’s profile →“Can a best-in-class spend management platform for mid-market companies become the non-payroll financial OS when embedded within a dominant HCM provider?”
Founded in 2016 as a spend management platform targeting mid-market companies, Airbase differentiated itself from pure-play card issuers like Brex by building an all-in-one procure-to-pay suite covering corporate cards, bill payments, purchase orders, and expense reimbursements with deep accounting automation. The 2022 Goldman Sachs credit facility signaled a move toward becoming a balance-sheet-backed card program rather than just a software layer. The 2024 acquisition by Paylocity for $361M completed a strategic pivot toward being the non-payroll finance layer of a broader HCM platform, positioning Airbase as 'Paylocity for Finance' — unifying payroll and spend management on one platform for mid-market businesses.