Accounting TechnologyFunding Report March 2023
March 2023Published 1 April 2023
Accounting and finance software companies raised US$652m across 15 rounds in March, up 180% on February's US$232m. Payroll and spend management took the largest shares.
US$650mRaisedin March
15Rounds13 in February
US$500mLargestRippling
US$956m2023 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payroll$534m
Spend management$56.7m
Payables and receivables$42.5m
Bookkeeping$6.4m
FP&A and forecasting$5m
Treasury$3.7m
ERP and general ledger$3.3m
Top investors
March, rounds led or joined
- Accel 1 round, led
- AlbionVC 1 round, led
- Andreessen Horowitz 1 round, led
- Blockchain Capital 1 round, led
- Eurazeo 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Rippling | US$500m | Series E | Greenoaks | Payroll |
| Parker | US$31.1m | Series A | Valar Ventures | Spend management |
| N2F | €24m | Growth equity | Spend management | |
| Toku | US$20m | Funding round | Blockchain Capital | Payroll |
| Wingspan | US$14m | Series A | Andreessen Horowitz | Payroll |
| Orb | US$14m | Series A | Menlo Ventures | Payables and receivables |
| Growfin | US$7.5m | Series A | SWC Global | Payables and receivables |
| Toku | US$7m | Seed round | F-Prime Capital | Payables and receivables |
| Finmatics | €6m | Series A | Mangrove Capital Partners | Bookkeeping |
| Ramp | US$5m | Seed round | AlbionVC, Eurazeo | FP&A and forecasting |
| Navix | US$5m | Seed round | Payables and receivables | |
| Monite | €4.6m | Seed round | Third Prime | Payables and receivables |
| Beam | US$4m | Seed round | Accel | Payables and receivables |
| Tidely | €3.5m | Funding round | TX Ventures | Treasury |
| Translucent | £2.7m | Pre-seed round | LocalGlobe | ERP and general ledger |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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