About Backdrop
Backdrop is a company based in San Francisco (United States) founded in 2023 by Caitlin Short and Akanksha Singh. It operates as a SaaS (Software-as-a-Service). Backdrop has raised $125 thousand across 1 funding round from investors including Y Combinator. Backdrop offers products and services including P-Cards Management, Accounts Payable Automation, and Corporate Expenses Tracking. Backdrop operates in a competitive market with competitors including Conta Simples, AppZen, Jenji, Mendel and Sensibill, among others.
- Headquarter San Francisco, United States
- Founders Caitlin Short, Akanksha Singh
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Sectors
Technology
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Phone
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Website
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Social
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- Legal Name Twig Tech
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$125 K (USD)
in 1 rounds
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Latest Funding Round
$125 K (USD), Seed
Jun 01, 2023
- Investors
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Employee Count
Employee Count
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Products & Services of Backdrop
Backdrop offers a comprehensive portfolio of products and services, including P-Cards Management, Accounts Payable Automation, and Corporate Expenses Tracking. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Real-time spend limits are set for production cards.
Payments and approvals are streamlined for production teams.
Expenses are managed for corporate and production teams.
Funding Insights of Backdrop
Backdrop has successfully raised a total of $125K through 1 strategic funding round. The most recent funding activity was a Seed round of $125 thousand completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $125,000
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First Round
First Round
(01 Jun 2023)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jun, 2023 | Amount | Seed - Backdrop | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Backdrop
Backdrop has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Y Combinator. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Backdrop
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Backdrop
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Backdrop Comparisons
Competitors of Backdrop
Backdrop operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Conta Simples, AppZen, Jenji, Mendel and Sensibill, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Digital bank for businesses
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| domain | founded_year | HQ Location |
Personal Assistant for Expense Management
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| domain | founded_year | HQ Location |
AI-based expense management software is offered for businesses.
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| domain | founded_year | HQ Location |
Expense analysis and management solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Receipt management solutions are offered for digital banking apps.
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| domain | founded_year | HQ Location |
AI-based legal spend management software is offered for corporate lawyers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Backdrop
When was Backdrop founded?
Backdrop was founded in 2023.
Where is Backdrop located?
Backdrop is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Backdrop a funded company?
Backdrop is a funded company, having raised a total of $125K across 1 funding round to date. The company's 1st funding round was a Seed of $125K, raised on Jun 01, 2023.
What does Backdrop do?
Backdrop offers financial tools tailored for film, TV, music, and event productions, as well as corporate teams. Real-time P-Card management, automated accounts payable processes, and corporate expense tracking are delivered through an all-in-one platform. Integration with major accounting systems is supported, and budget tracking along with custom approval chains is facilitated. The focus is placed on streamlining vendor onboarding, payments, and reimbursements while serving global production industries with efficient pre-accounting solutions.
Who are the top competitors of Backdrop?
Backdrop's top competitors include Conta Simples, Brightflag and AppZen.
What products or services does Backdrop offer?
Backdrop offers P-Cards Management, Accounts Payable Automation, and Corporate Expenses Tracking.
Who are Backdrop's investors?
Backdrop has 1 investor. Key investors include Y Combinator.
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