Accounting TechnologyFunding Report June 2021
June 2021Published 1 July 2021
Accounting and finance software companies raised US$282m across 9 rounds in June, up 70% on May's US$166m. Spend management and bookkeeping took the largest shares, and Sequoia Capital led two rounds, Pennylane and Anrok.
US$280mRaisedin June
9Rounds4 in May
US$72.5mLargestBench
US$2.71bn2021 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$86m
Bookkeeping$72.5m
Payroll$50m
FP&A and forecasting$25m
ERP and general ledger$18.3m
Payables and receivables$15m
Practice management$11m
Tax and compliance$4.3m
Top investors
June, rounds led or joined
- Sequoia Capital 2 rounds, led
- Andreessen Horowitz 1 round, led
- Contour Venture Partners 1 round, led
- Index Ventures 1 round, led
- Menlo Ventures 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Bench | US$72.5m | Series C | Contour Venture Partners | Bookkeeping |
| Airbase | US$60m | Series B | Menlo Ventures | Spend management |
| Oyster | US$50m | Series B | Stripes | Payroll |
| Jeeves | US$26m | Series A | Andreessen Horowitz | Spend management |
| Datarails | US$25m | Series A extension | FP&A and forecasting | |
| Pennylane | €15m | Funding round | Sequoia Capital | ERP and general ledger |
| Upflow | US$15m | Series A | Payables and receivables | |
| Canopy | US$11m | Funding round | Practice management | |
| Anrok | US$4.3m | Seed round | Index Ventures, Sequoia Capital | Tax and compliance |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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