- Credit card company Brex — which is valued at $2.6 billion — announced it has acquired three companies, including Neji, Compose Labs, and Landria
Credit card company Brex — which is valued at $2.6 billion — announced it has acquired three companies, including blockchain company Neji, web publishing company Compose Labs, and database company Landria. The terms of all three deals were undisclosed.
And the deals were made in the form of product acquisitions and acqui-hires. Brex cofounder and co-CEO Henrique Dubugras told Business Insider that the downtown in the economy has made startup founders more receptive to acquisitions.
Neji is a San Francisco-based startup building blockchain and networking technologies for businesses. And Neji joined Brex to redouble its security, privacy and risk posture as Brex advances its product development roadmap. Neji is known for addressing the security and networking challenges of scaling distributed ledgers across hybrid-cloud and multi-cloud deployments. And the Neji team brings a wealth of experience at organizations, including Google, Amazon, and Microsoft.
What does Compose Labs do? Compose Labs is a San Francisco-based startup that powers next-generation video experiences, including the popular educational platform CommonLounge. Compose Labs joined Brex to enhance rapidly growing e-commerce product (launched in February 2019). And the Compose Labs team will expand the quality and sources of Brex e-commerce underwriting data while also building out valuable expansion products.
And Landria is a San Francisco-based startup that develops internal knowledge databases for companies. Landria joined Brex to augment Brex’s core technology infrastructure. Plus Landria organizes business SaaS tools into a single cohesive experience with unified search and navigation.
Since launching, Brex has raised $315 million in equity and $300 million in debt capital from investors like Y Combinator Continuity, Peter Thiel, and Max Levchin.
Key Quotes:
“Brex is committed to helping growing businesses scale, especially in challenging environments. We look forward to bringing the talented team members at Neji, Compose Labs and Landria onto the Brex team.”
Henrique Dubugras, co-Founder and co-CEO of Brex
“Protecting customer data and assets is mission critical to us at Brex and so I am very excited to welcome Neji to the Trust team.”
-Shruti Gupta, Brex Director of Engineering, Trust.
“Data engineering is critical to the future of our Ecommerce product as Brex seeks to ensure that we have 10x data advantages for all of the customers we underwrite.”
-Miguel Rios-Berrios, Brex Director of Engineering, Data.
“The team at Landria is incredible and we’re so fortunate to harness their talent and energy to strengthen the core infrastructure that powers the millions of transactions and thousands of customers on the Brex platform.”
-Elena Tatarchenko, Brex Engineering Manager, Foundation
