Accounting TechnologyFunding Report October 2020
October 2020Published 1 November 2020
Accounting and finance software companies raised US$256m across 6 rounds in October, down 28% on September's US$353m. Payables and receivables and spend management took the largest shares.
US$260mRaisedin October
6Rounds11 in September
US$150mLargestTipalti
US$2.52bn2020 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payables and receivables$228m
Spend management$23m
FP&A and forecasting$5m
Top investors
October, rounds led or joined
- Bessemer Venture Partners 1 round, led
- Draper Associates 1 round, led
- Durable Capital Partners 1 round, led
- IDEA Fund Partners 1 round, led
- Insight Partners 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Tipalti | US$150m | Funding round | Durable Capital Partners | Payables and receivables |
| Chargebee | US$55m | Series F | Insight Partners | Payables and receivables |
| Finexio | US$23m | Funding round | Medalist Partners | Payables and receivables |
| Spendesk | US$18m | Series B extension | Spend management | |
| Finmark | US$5m | Seed round | IDEA Fund Partners, Bessemer Venture Partners, Draper Associates | FP&A and forecasting |
| Teampay | US$5m | Series A extension | Spend management |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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