Friday, May 11, 2012
ExpenseCloud Acquired By TriNet
Human resources service provider TriNet confirmed Thursday that it has acquired Los Angeles-based expense report management software provider ExpenseCloud. Financial terms of the sale have not been announced. According to TriNet, it will incorporate ExpenseCloud's offering into its client service platform later in 2012. ExpenseCloud's management team, including both co-founder and CEO Eric Sikola and co-founder and CTO Dan Fritcher, will join TriNet as part of the acquisition. Sikola founded ExpenseCloud after his own frustrating experiences filling out, submitting, and fighting with CFOs to get his expenses paid by his former employers. (Trinet is a sponsor of socalTECH.com, although that does not affect our coverage).