Accounting TechnologyFunding Report May 2020
May 2020Published 1 June 2020
Accounting and finance software companies raised US$299m across 8 rounds in May, down 26% on April's US$403m. Spend management and bookkeeping took the largest shares.
US$300mRaisedin May
8Rounds15 in April
US$150mLargestBrex
US$1.53bn2020 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$150m
Bookkeeping$94.2m
Treasury$36.3m
Payroll$14m
ERP and general ledger$4.3m
Top investors
May, rounds led or joined
- Partech 2 rounds, 1 led
- Kima Ventures 2 rounds
- Andreessen Horowitz 1 round, led
- Aquiline Technology Growth 1 round, led
- B Capital Group 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Brex | US$150m | Series C extension | DST Global, Lone Pine Capital | Spend management |
| Khatabook | US$60m | Series B | B Capital Group | Bookkeeping |
| Zeitgold | €27m | Series B | Vintage Investment Partners | Bookkeeping |
| TIS | US$20m | Funding round | Aquiline Technology Growth | Treasury |
| Agicap | €15m | Series A | Partech | Treasury |
| Deel | US$14m | Series A | Andreessen Horowitz | Payroll |
| Countingup | £4m | Bridge round | ING Ventures | Bookkeeping |
| Pennylane | €4m | Seed round | ERP and general ledger |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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