Accounting TechnologyFunding Report December 2020
December 2020Published 1 January 2021
Accounting and finance software companies raised US$289m across 12 rounds in December, up 156% on November's US$113m. Payables and receivables and spend management took the largest shares.
US$290mRaisedin December
12Rounds5 in November
US$95mLargestGoCardless
US$2.92bn2020 total
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payables and receivables$95m
Spend management$64.4m
Payroll$60.2m
Tax and compliance$43.6m
FP&A and forecasting$25.9m
Top investors
December, rounds led or joined
- Accel 1 round, led
- Anthemis Group 1 round, led
- BEENEXT 1 round, led
- BGF 1 round, led
- Bain Capital Ventures 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| GoCardless | US$95m | Series F | Bain Capital Ventures | Payables and receivables |
| Immedis | US$50m | Strategic investment | Lead Edge Capital | Payroll |
| Fairmarkit | US$30m | Series B | GGV Capital, Insight Partners | Spend management |
| Ramp | US$30m | Funding round | Spend management | |
| Pigment | US$25.9m | Series A | Blossom Capital | FP&A and forecasting |
| Boast.ai | US$23m | Series A | Radian Capital | Tax and compliance |
| Taxdoo | €17m | Series A | Accel | Tax and compliance |
| Skuad | US$4m | Seed round | BEENEXT, Anthemis Group | Payroll |
| Finch | US$3.5m | Seed round | General Catalyst | Payroll |
| Cledara | US$3.4m | Funding round | Nauta Capital | Spend management |
| XCD | £2m | Growth investment | BGF | Payroll |
| Navisteps | US$1m | Pre-seed round | Spend management |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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