Accounting TechnologyFunding Report August 2021
August 2021Published 1 September 2021
Accounting and finance software companies raised US$1.21bn across 23 rounds in August, up 23% on July's US$983m. Spend management and payroll took the largest shares.
US$1.21bnRaisedin August
23Rounds18 in July
US$300mLargestRamp
US$4.9bn2021 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$335m
Payroll$246m
Bookkeeping$217m
ERP and general ledger$187m
Tax and compliance$146m
Payables and receivables$74.9m
FP&A and forecasting$4.2m
Top investors
August, rounds led or joined
- SoftBank Latin America Fund 2 rounds, 1 led
- Spark Capital 2 rounds, 1 led
- Global Founders Capital 2 rounds
- Sequoia Capital 2 rounds
- Stripe 2 rounds
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Ramp | US$300m | Series C | Founders Fund | Spend management |
| Gusto | US$175m | Series E | T. Rowe Price Associates | Payroll |
| TaxBit | US$130m | Series B | IVP, Insight Partners | Tax and compliance |
| Omie | R$580m | Series C | SoftBank Latin America Fund | ERP and general ledger |
| Khatabook | US$100m | Series C | Tribe Capital, Moore Strategic Ventures | Bookkeeping |
| FreshBooks | US$80.75m | Series E | Accomplice | Bookkeeping |
| Xentral | US$75m | Series B | ERP and general ledger | |
| CloudPay | US$58m | Funding round | The Olayan Group | Payroll |
| Zeni | US$34m | Series B | Elevation Capital | Bookkeeping |
| Moss | US$29m | Series A extension | Valar Ventures | Spend management |
| Balance | US$25m | Series A | Ribbit Capital | Payables and receivables |
| Yaydoo | US$20.4m | Series A | Base10 Partners, monashees | Payables and receivables |
| Zeal | US$13m | Series A | Spark Capital | Payroll |
| Lockstep | US$10m | Series A | Point72 Ventures | Payables and receivables |
| Blue J | US$9m | Series B | Generation Ventures | Tax and compliance |
| Finexio | US$8m | Funding round | Patriot Financial Partners | Payables and receivables |
| Bitwave | US$7.25m | Seed round | Blockchain Capital | Tax and compliance |
| Pliant | €5.5m | Seed round | Spend management | |
| Comma | £4.34m | Seed round | Octopus Ventures, Connect Ventures | Payables and receivables |
| Pry Financials | US$4.2m | Seed round | FP&A and forecasting | |
| Biller Genie | US$3.5m | Seed round | Payables and receivables | |
| Synder | US$2m | Seed round | Bookkeeping | |
| Octane | US$2m | Seed round | Basis Set Ventures | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
