Accounting TechnologyFunding Report March 2022
March 2022Published 1 April 2022
Accounting and finance software companies raised US$1.04bn across 23 rounds in March, down 18% on February's US$1.26bn. Spend management and payroll took the largest shares, and Founders Fund led two rounds, Ramp and Bob Finance (HiBob).
US$1.04bnRaisedin March
23Rounds25 in February
US$200mLargestRamp
US$3.4bn2022 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Spend management$568m
Payroll$189m
FP&A and forecasting$95m
ERP and general ledger$65m
Accounting integrations$27m
Payables and receivables$22.1m
Close and reconciliation$21m
Tax and compliance$20m
Audit$17m
Bookkeeping$11m
Document capture$3.5m
Top investors
March, rounds led or joined
- Founders Fund 2 rounds, led
- Tencent 2 rounds, led
- Andreessen Horowitz 2 rounds, 1 led
- Tiger Global 2 rounds, 1 led
- 8VC 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Ramp | US$200m | Funding round | Founders Fund | Spend management |
| Jeeves | US$180m | Series C | Tencent | Spend management |
| Omnipresent | US$120m | Series B | Kinnevik, Tencent | Payroll |
| Payhawk | US$100m | Series B extension | Lightspeed Venture Partners | Spend management |
| Perk | US$80m | Series B | Sequoia Capital | Spend management |
| Digits | US$65m | Series C | SoftBank Vision Fund 2 | ERP and general ledger |
| Multiplier | US$60m | Series B | Tiger Global, Sequoia Capital India | Payroll |
| Datarails | US$50m | Series B | Qumra Capital | FP&A and forecasting |
| Rutter | US$27m | Series A | Andreessen Horowitz | Accounting integrations |
| Bob Finance | US$25m | Series B | Founders Fund | FP&A and forecasting |
| Anrok | US$20m | Series A | Index Ventures, Sequoia | Tax and compliance |
| Simetrik | US$20m | Series A | FinTech Collective | Close and reconciliation |
| Causal | US$20m | Series A | Coatue, Accel | FP&A and forecasting |
| Fieldguide | US$17m | Series A | 8VC | Audit |
| Finally | US$11m | Series A | PeakSpan | Bookkeeping |
| Glean AI | US$10.8m | Seed round | Contour Venture Partners | Payables and receivables |
| Kadmos | €8.3m | Seed round | Payroll | |
| Hopscotch | US$6.1m | Seed extension | Shine Capital, Stellation Capital | Payables and receivables |
| Cardlay | US$6m | Funding round | Spend management | |
| Kolleno | £4m | Seed round | Eurazeo, Stride.VC | Payables and receivables |
| Docsumo | US$3.5m | Seed round | Common Ocean | Document capture |
| Cape | A$3.1m | Pre-seed round | Spend management | |
| Churpy | US$1m | Seed round | Unicorn Growth Capital | Close and reconciliation |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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