Accounting TechnologyFunding Report October 2023
October 2023Published 1 November 2023
Accounting and finance software companies raised US$365m across 11 rounds in October, up 57% on September's US$232m. Payroll and payables and receivables took the largest shares.
US$360mRaisedin October
11Rounds10 in September
A$263mLargestEmployment Hero
US$2.91bn2023 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payroll$166m
Payables and receivables$110m
Spend management$55.2m
FP&A and forecasting$16.7m
Treasury$12m
Bookkeeping$3.6m
Audit$1.5m
Top investors
October, rounds led or joined
- Insight Partners 2 rounds
- Bain Capital Ventures 1 round, led
- Better Tomorrow Ventures 1 round, led
- Blackstone 1 round, led
- Glilot Capital Partners 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Employment Hero | A$263m | Series F | TCV | Payroll |
| Stampli | US$61m | Series D | Blackstone | Payables and receivables |
| Procurify | US$50m | Series C | Ten Coves Capital | Spend management |
| Loop | US$35m | Series B | J.P. Morgan Growth Equity Partners, Index Ventures | Payables and receivables |
| Aleph | US$16.7m | Funding round | Bain Capital Ventures | FP&A and forecasting |
| Cobre | US$13m | Funding round | Kaszek | Payables and receivables |
| Statement | US$12m | Seed round | Glilot Capital Partners | Treasury |
| Pivot | €5m | Pre-seed round | Spend management | |
| Basis | US$3.6m | Seed round | Better Tomorrow Ventures | Bookkeeping |
| AuditCue | US$1.5m | Seed round | Kalaari Capital | Audit |
| Dealflow | €660,000 | Pre-seed round | Ralf Reichert | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
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