Accounting TechnologyFunding Report January 2020
January 2020Published 1 February 2020
Accounting and finance software companies raised US$574m across 9 rounds in January. Payables and receivables and payroll took the largest shares.
US$570mRaisedin January
9Rounds
US$260mLargestAvidXchange
US$574m2020 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payables and receivables$386m
Payroll$81m
Spend management$60m
Close and reconciliation$40m
Tax and compliance$5m
FP&A and forecasting$2m
Top investors
January, rounds led or joined
- Global Founders Capital 2 rounds
- Accel 1 round, led
- Atomico 1 round, led
- Bala Investments 1 round, led
- ICONIQ Capital 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| AvidXchange | US$260m | Series F | TPG Sixth Street Partners | Payables and receivables |
| HighRadius | US$125m | Series B | ICONIQ Capital | Payables and receivables |
| Personio | US$75m | Series C | Accel | Payroll |
| scoutbee | US$60m | Series B | Atomico | Spend management |
| FloQast | US$40m | Series C | Norwest Venture Partners | Close and reconciliation |
| OnPay | US$6m | Series A | Payroll | |
| TaxBit | US$5m | Seed round | Tax and compliance | |
| Float | £1.5m | Funding round | FP&A and forecasting | |
| CollBox | US$1m | Seed round | Bala Investments | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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