The Finnish company is raising $875 million in a new Series E financing round valuing it around $10.9 billion, according to people familiar with the matter.
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The company is expected to generate more than $1 billion in revenue this year, doubling the $500 million it made in 2024.
The six-year-old company is rebuilding corporate credit cards and expense reports with funding from Founders Fund, Iconiq, and…
The round totaled $122 billion of committed capital, up from the $110 billion figure that was previously announced.
The Finnish company said in September that it has sold 5.5 million smart rings to date.
CEO Tom Hale spoke with CNBC's Arjun Kharpal in an exclusive interview at Web Summit in Lisbon, Portugal.
The record-breaking funding round comes as the AI company reportedly lays the groundwork for going public.
