Accounting TechnologyFunding Report March 2021
March 2021Published 1 April 2021
Accounting and finance software companies raised US$722m across 11 rounds in March, up 1128% on February's US$58.8m. Payables and receivables and payroll took the largest shares.
US$720mRaisedin March
11Rounds4 in February
US$300mLargestHighRadius
US$1.3bn2021 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payables and receivables$300m
Payroll$242m
Tax and compliance$100m
Bookkeeping$52.7m
FP&A and forecasting$10m
Practice management$10m
Close and reconciliation$3.5m
Spend management$3.5m
Top investors
March, rounds led or joined
- Aleph 1 round, led
- Bezos Expeditions 1 round, led
- Bpifrance 1 round, led
- D1 Capital Partners 1 round, led
- Eurazeo Growth 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| HighRadius | US$300m | Series C | D1 Capital Partners, Tiger Global Management | Payables and receivables |
| PayFit | €90m | Series D | Eurazeo Growth, Large Venture, Bpifrance | Payroll |
| TaxBit | US$100m | Series A | Paradigm, Tiger Global | Tax and compliance |
| Papaya Global | US$100m | Series C | Greenoaks | Payroll |
| Pilot | US$40m | Series C extension | Bezos Expeditions, Whale Rock Capital | Bookkeeping |
| Employment Hero | A$45m | Series D | SEEK | Payroll |
| Countingup | £9.1m | Series A | Framework Venture Partners | Bookkeeping |
| Karbon | US$10m | Funding round | Practice management | |
| Cube | US$10m | Series A | FP&A and forecasting | |
| Clara | US$3.5m | Pre-seed round | General Catalyst | Spend management |
| Trullion | US$3.5m | Seed round | Greycroft, Aleph | Close and reconciliation |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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