Accounting TechnologyFunding Report November 2023
November 2023Published 1 December 2023
Accounting and finance software companies raised US$276m across 11 rounds in November, down 24% on October's US$365m. Bookkeeping and spend management took the largest shares.
US$280mRaisedin November
11Rounds11 in October
US$60mLargestBlack Ore
US$3.19bn2023 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Bookkeeping$83.2m
Spend management$79m
Tax and compliance$60m
Payables and receivables$25.5m
Payroll$20m
Audit$8.5m
Top investors
November, rounds led or joined
- Felicis 2 rounds, 1 led
- General Catalyst 2 rounds
- Soma Capital 2 rounds
- 13books Capital 1 round, led
- Arthur Ventures 1 round, led
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Black Ore | US$60m | Funding round | a16z, Oak HC/FT | Tax and compliance |
| Candex | US$45m | Series B | Goldman Sachs | Spend management |
| Indy | €40m | Series C | BlackFin Capital Partners | Bookkeeping |
| ORO Labs | US$34m | Series B | Felicis | Spend management |
| Puzzle | US$30m | Funding round | S32, XYZ Capital | Bookkeeping |
| Payroll Integrations | US$20m | Series A | Arthur Ventures | Payroll |
| Crezco | US$12m | Series A | MMC Ventures, 13books Capital | Payables and receivables |
| Solvimon | €9m | Seed round | Payables and receivables | |
| Every | US$9.5m | Seed round | Base10 | Bookkeeping |
| Valid8 Financial | US$8.5m | Series A | Silverton Partners | Audit |
| Acctual | US$3.85m | Seed round | Third Prime, IDEO | Payables and receivables |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
