Accounting TechnologyFunding Report October 2021
October 2021Published 1 November 2021
Accounting and finance software companies raised US$1.64bn across 14 rounds in October, up 41% on September's US$1.16bn. Payroll and spend management took the largest shares.
US$1.64bnRaisedin October
14Rounds19 in September
US$425mLargestDeel
US$7.7bn2021 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payroll$945m
Spend management$393m
Document capture$114m
Treasury$85m
Tax and compliance$75m
FP&A and forecasting$20m
Payables and receivables$4.1m
Audit$2.5m
Top investors
October, rounds led or joined
- Altimeter Capital 3 rounds, 1 led
- Greenoaks 2 rounds, 1 led
- Elad Gil 2 rounds
- Coatue 1 round, led
- EQT Ventures 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Deel | US$425m | Series D | Coatue | Payroll |
| TripActions | US$275m | Series F | Greenoaks | Spend management |
| Personio | US$270m | Series E | Greenoaks Capital Partners | Payroll |
| Rippling | US$250m | Series C | Sequoia Capital Global Equities, Sequoia Capital Global Growth | Payroll |
| Rossum | US$100m | Series A | Document capture | |
| Modern Treasury | US$85m | Series C | Altimeter Capital | Treasury |
| Clear | US$75m | Series C | Kora Capital | Tax and compliance |
| Juni | US$52m | Funding round | EQT Ventures | Spend management |
| Extend | US$40m | Series B | March Capital | Spend management |
| Perk | US$26m | Series A | Left Lane Capital | Spend management |
| Vareto | US$20m | Series A | GV | FP&A and forecasting |
| Mindee | US$14m | Series A | GGV Capital | Document capture |
| Crezco | £3m | Seed round | Payables and receivables | |
| Audit Sight | US$2.5m | Seed round | Hyde Park Venture Partners | Audit |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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