Ask any freelancer or small business owner if they enjoy managing receipts. (They don’t.) While it is a necessary part of doing business, it can often prove painful.
Unless one is using Sensibill, that is.
The Toronto-based company aims to help freelancers and startups with the nitty gritty financial burdens that plague their otherwise free (or productive) time. Sensibill found that more than half of freelancers and small business owners cite administrative burdens as prohibitive to business growth; nearly one-third forfeit tax claims due to lost receipts; and many spend upward of 80 hours annually separating personal from business expenses.
Sensibill allows users to capture paper receipt on their smartphone, and then uses artificial intelligence to instantly process the receipt’s data. Easily categorizing documents as personal or business saves hours of administrative work down the line. And export features make expense reports and filing taxes much simpler.
Speaking of money, Sensibill just raised a ton. Over the summer, the company secured more than $40 million, a strong follow-up to their $17 million Series A round in 2017. Radical Ventures, which pays particularly close attention to AI startups, led the round.
“We’re helping champion the future of work,” Sensibill CEO Corey Gross said. “That means supporting small business owners, freelancers, and entrepreneurs—they’re the fastest growing segment and the most underserved by banks.”
Beyond just tracking, Sensibill wants its technology to help users make decisions that are efficient and effective. The company describes its product vision is “improving users’ financial health through AI-assisted decisioning.”
“What we’re trying to do at Sensibill is bridge the gap between what banks are good at today, and where they need to be in five or ten years to protect their relationships from disruption,” added Gross.
Jordan Jacobs of Radical believes Sensibill is destined to be a billion-dollar company. Want on board?
Sensibill is hiring for several positions at the upcoming Tech Talent Toronto Job Fair, which takes place on November 6th at Steam Whistle Brewing in downtown Toronto.
Tech Talent Canada’s job fairsare unique recruiting events that connect a city’s fastest growing companies with the top tech talent in the city. Hiring companies have the opportunity to showcase their employer brand and pitch a crowd of skilled candidates on why they’re the best employer around.
For $20, attendees get a ticket, drink, appies—and a chance get hired by companies like Sensibill.