Accounting TechnologyFunding Report December 2021
December 2021Published 1 January 2022
Accounting and finance software companies raised US$905m across 16 rounds in December, down 10% on November's US$1bn. Spend management and payables and receivables took the largest shares, and Tiger Global led two rounds, Taxdoo and Mesh Payments.
US$910mRaisedin December
16Rounds22 in November
US$270mLargestTipalti
US$9.61bn2021 total
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$430m
Payables and receivables$307m
Tax and compliance$64m
Payroll$35m
Practice management$35m
Bookkeeping$31m
FP&A and forecasting$3.5m
Top investors
December, rounds led or joined
- Tiger Global 3 rounds, 2 led
- Seedcamp 3 rounds
- Avid Ventures 2 rounds, 1 led
- Entrée Capital 2 rounds, 1 led
- Moonfire Ventures 2 rounds, 1 led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Tipalti | US$270m | Series F | G Squared | Payables and receivables |
| Pleo | US$200m | Series C extension | Coatue Management | Spend management |
| Rho | US$75m | Series B | Dragoneer Investment Group | Spend management |
| Clara | US$70m | Series B | Coatue | Spend management |
| Taxdoo | US$64m | Series B | Tiger Global | Tax and compliance |
| Mesh Payments | US$50m | Series B | Tiger Global | Spend management |
| Canopy | US$35m | Series BB | Ten Coves Capital | Practice management |
| Pento | US$35m | Series B | Tiger Global Management, Avid Ventures | Payroll |
| DiviPay | US$20m | Series A | Spend management | |
| BHub | US$20m | Series A | Monashees, Valor Capital Group | Bookkeeping |
| Anchor | US$15m | Seed round | Rapyd Ventures, Entrée Capital, Tal Ventures | Payables and receivables |
| Mendel | US$15m | Series A | ALLVP, Infinity Ventures | Spend management |
| Numeral | €13m | Seed round | Payables and receivables | |
| CreditBook | US$11m | Pre-Series A | Bookkeeping | |
| Trolley | US$7m | Series A | Pace Capital | Payables and receivables |
| LiveFlow | US$3.5m | Seed round | Moonfire Ventures | FP&A and forecasting |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
