Accounting TechnologyFunding Report November 2021
November 2021Published 1 December 2021
Accounting and finance software companies raised US$1bn across 22 rounds in November, down 39% on October's US$1.64bn. Payables and receivables and tax and compliance took the largest shares, and Greenoaks led two rounds, Payhawk and Pigment.
US$1bnRaisedin November
22Rounds14 in October
US$163mLargestZenwork
US$8.71bn2021 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payables and receivables$330m
Tax and compliance$184m
Spend management$142m
Payroll$113m
FP&A and forecasting$98m
Bookkeeping$59.9m
Practice management$50.4m
Treasury$22.5m
Close and reconciliation$5m
Top investors
November, rounds led or joined
- Greenoaks 2 rounds, led
- Tiger Global 2 rounds, 1 led
- FJ Labs 2 rounds
- Atomico 1 round, led
- Faisal Abdel Salam 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Zenwork | US$163m | Growth equity | Spectrum Equity | Tax and compliance |
| Plate IQ | US$160m | Series B | Payables and receivables | |
| Payhawk | US$112m | Series B | Greenoaks | Spend management |
| Wrapbook | US$100m | Series B | Tiger Global Management | Payroll |
| Airwallex | US$100m | Series E extension | Lone Pine Capital | Payables and receivables |
| Pigment | US$73m | Series B | Greenoaks | FP&A and forecasting |
| Settle | US$60m | Series B | Ribbit Capital | Payables and receivables |
| Practice Ignition | A$65m | Series C | JMI Equity | Practice management |
| Botkeeper | US$42m | Series C | Grand Oaks Capital | Bookkeeping |
| Float Financial | US$30m | Series A | Tiger Global | Spend management |
| Abacum | US$25m | Series A | Atomico | FP&A and forecasting |
| Fonoa | US$20.5m | Series A | OMERS Ventures | Tax and compliance |
| FinLync | US$16m | Funding round | Point72 Ventures | Treasury |
| Sleek | US$14m | Series A | White Star Capital, Jungle Ventures | Bookkeeping |
| Multiplier | US$13.2m | Series A | Sequoia Capital India | Payroll |
| Checkbook | US$10m | Series A | Payables and receivables | |
| Bound | US$6.5m | Seed round | Treasury | |
| RightRev | US$5m | Seed round | Norwest Venture Partners, Salesforce Ventures | Close and reconciliation |
| Kippa | US$3.2m | Pre-seed round | Target Global | Bookkeeping |
| Pixie | £2.25m | Seed round | Triple Point Ventures | Practice management |
| Outmin | €650,000 | Funding round | Bookkeeping | |
| Hollydesk | US$325,000 | Pre-seed round | Faisal Abdel Salam | Spend management |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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