Bill.com was founded in 2006 by Rene Lacerte, a serial entrepreneur whose family has been in the SMB accounting space for decades — his father founded PayCycle, which Intuit later acquired. Bill went public on the NYSE in December 2019 under the ticker BILL.
The platform’s core product automates accounts payable and accounts receivable. Businesses can receive invoices, route them for approval, schedule payments, and sync everything with their accounting software. It removes the paper-heavy, manual workflow that small finance teams typically deal with.
Bill made two major acquisitions in 2021-2022 that reshaped the company. First, it bought Divvy, a corporate card and expense management platform, for $2.5 billion. Then it acquired Invoice2go, an invoicing tool popular with freelancers and micro-businesses, for $625 million. These deals expanded Bill’s reach from pure AP/AR into broader spend management.
By fiscal year 2024, Bill processed over $300 billion in payment volume and reported revenue north of $1.2 billion. The company serves over 470,000 businesses and integrates with major accounting platforms including QuickBooks, Xero, Sage, and NetSuite. Bill is headquartered in San Jose, California, and employs around 2,000 people.
