Startup integrates app in time for Apple Watch | Prism seeks to simplify bill paying process

The Apple Watch release was last Friday, and Bellevue-based startup Prism was happy to have its mobile application integration finished and approved just in time.

The Apple Watch release was last Friday, and Bellevue-based startup Prism was happy to have its mobile application integration finished and approved just in time.

Prism, whose mobile application by the same name lets users consolidate and pay their bills in one place, has grown conservatively from inside a Factoria condominium, with a dozen employees sharing living room and kitchen space.

“I think it’s actually been a great space,” said Tyler Griffin, Prism co-founder and CEO. “We fight over the thermostat a lot.”

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Griffin and co-founder and chief technology officer Steve Gordon talked about starting a business while at Northwestern University, but ended up going their separate ways after graduation. Griffin went to JPMorgan and Griffin to Microsoft.

The two had a brainstorming session in 2011, and started Prism a year later.

“I had this thought that paying bills is such a pain in the butt, there’s got to be something we can do there,” Griffin said.

The application, which was made available for the Apple Watch in time for its release, took 3 1/2 weeks to integrate, said Gordon, syncs with a users bank and billing accounts.

“We’ll actually tell you about the bill as soon as we find out about it,” Griffin said.

Once notified about a bill, the app user can simply approve paying it or wait until the next notification. The application also warns users if they are at risk of overdrafting.

“They’re in this very delicate dance each and every month,” Griffin said of people balancing bills. “We aim to solve that.”

Prism is free to use, with charges for premium services like paying off a biller that doesn’t accept credit cards.

In its full two years, Prism reports assisting customers in making more than $100 million in transactions, supporting about 6,300 billers currently.

“Our goal is to get up to — pretty relatively soon — the 15,000 supportive threshold,” Griffin said. “We ultimately want to be able to offer credit in the app,” he added, for instances when a customer may need to pay a bill on a Wednesday, but don’t get paid again until Friday.

Prism began another funding round in February, and is seeking to raise $400,000 to test a number of new application features focused on monetization.

More information at prismmoney.com.