About Karmic Labs
Karmic Labs is a Travel & Hospitality company based in San Francisco (United States) founded in 2014, and was acquired by Prepaid Technologies in March 2019. Cloud-driven spend management and expense cards are offered to businesses. It operates in the Travel & Hospitality, Technology, and Financial Services sectors. Karmic Labs has raised $24.9 million across 4 funding rounds from investors including Prepaid Technologies, Alsop Louie Partners and Arbor Ventures. Its focus areas include FinTech, Finance & Accounting Tech, Accounting Solutions and Procure to Pay. Its competitors include Ramp, Brex and Navan; 3 of its 3 listed competitors have raised funding.
Company details
Cloud-driven spend management solution expense card for businesses. It offers Dash that allows employees to request funds for business-related expenses from their employers receive the cash instantly. Business owners can control the various features of the expense cards including expense approval, spending allowances, funds management in real-time, set-up recurring billing, and the ability to pause or suspend usage. The card spending is linked directly to allocated budgets. The employee expense cards are connected with a mobile app that can handle expense reporting at the POS and has the ability to request spending limit changes in real-time.
- Headquarters San Francisco, United States
- Stage Acquired
- SectorsTravel & HospitalityTechnology Financial Services
- Email••••••••
- Phone•••• ••••
- Website karmiclabs.com
- Social X
- Acquired by Prepaid Technologies (Mar 2019)
- Total Equity Funding$24.9M (USD)
in 4 rounds
- Latest Funding Round$17.2M (USD), Series B
Jul 2017
- InvestorsPrepaid Technologies
& 7 more
- Acquired byPrepaid Technologies
(Mar 2019)
Funding Insights of Karmic Labs
Karmic Labs has successfully raised a total of $24.9M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $17.2 million completed in July 2017. 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 $24.9M
- Total Rounds 4
- Last Round Series B — $17.2M
- First Round $2.7M
(Jun 2014)
- Investors Count 7
All 4 funding rounds of Karmic Labs with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2017 | $17.2M | Series B | – | – | |
| Jul 2015 | $5M | Series A | – | – | |
| Aug 2014 | Seed | – | – | ||
| Jun 2014 | $2.7M | Seed | – | Draper Associates | – |
8 investors in total: 8 institutional.
Investors in Karmic Labs
Karmic Labs has secured backing from 8 investors, including venture fund investors. Prominent investors backing the company include Prepaid Technologies, Alsop Louie Partners and Arbor Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage technology venture capital firm specializing in risk-oriented investments with a humanist approach. | alsop-louie.com | |||
Investments in financial services are made by Arbor Ventures. | arborventures.com | Hong Kong, China | ||
Multiple sectors are targeted for venture capital investments by Greycroft. | greycroft.com | New York, United States | ||
| marketplace.fund | ||||
VC firm investing in early stage tech companies in the US | startupcv.com | Menlo Park, United States | ||
Seed & early stage VC firm investing in the US | rpmvc.com | Ann Arbor, United States | ||
Early-stage technology companies receive venture capital investments. | draper.vc | San Mateo, United States | ||
Prepaid card solutions are offered to banks and businesses. | 1998 | in-prepaid.com | Birmingham, United States |
Investor details for Karmic Labs
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- Complete investor list
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Timeline of Karmic Labs
4 dated milestones of Karmic Labs across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Karmic Labs is founded.
- Funding First funding round of $2.7M.
- Funding Latest funding round, Series B, of $17.2M.
- Exit Acquired by Prepaid Technologies.
Competitors of Karmic Labs
Karmic Labs has 3 listed competitors in our database, 3 of them funded. They include Ramp, Brex and Navan.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ramp.com | 2019 | New York, United States | $5.07B | Spend management and accounts payable solutions are delivered to businesses. | ||
| brex.com | 2017 | Draper, United States | $1.2B | SaaS-driven credit card and spend management solutions platform for businesses | ||
| navan.com | 2015 | Palo Alto, United States | $1.58B | 847 | Corporate travel and expense management are facilitated through SaaS platform. |
Detailed competitors of Karmic Labs
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- Full competitor set
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Top companies in Online Travel
3 companies that operate in the same segment as Karmic Labs (Online Travel) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | 6,209 | ||
Multiple travel services are booked via an app-based platform. | 1999 | Miami, Florida, United States | USD 331.37 M | 5,191 |
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Frequently Asked Questions about Karmic Labs
Karmic Labs was founded in 2014.
Karmic Labs is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Karmic Labs is a funded company, having raised a total of $24.9M across 4 funding rounds to date. The company's 1st funding round was a Seed of $2.7M, raised on Jun 2014.
Cloud-driven spend management solution expense card for businesses. It offers Dash that allows employees to request funds for business-related expenses from their employers receive the cash instantly. Business owners can control the various features of the expense cards including expense approval, spending allowances, funds management in real-time, set-up recurring billing, and the ability to pause or suspend usage. The card spending is linked directly to allocated budgets. The employee expense cards are connected with a mobile app that can handle expense reporting at the POS and has the ability to request spending limit changes in real-time.
Karmic Labs has 8 investors. Key investors include Prepaid Technologies, Alsop Louie Partners, Arbor Ventures, Greycroft, and Marketplace Funds.
Yes. Karmic Labs was acquired by Prepaid Technologies in March 2019.