Accounting TechnologyFunding Report April 2024
April 2024Published 1 May 2024
Accounting and finance software companies raised US$865m across 18 rounds in April, up 223% on March's US$268m. Payroll and spend management took the largest shares, and ICONIQ Growth led two rounds, Pigment and FloQast.
US$870mRaisedin April
18Rounds13 in March
US$200mLargestRippling
US$1.58bn2024 so far
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Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payroll$200m
Spend management$195m
FP&A and forecasting$145m
Close and reconciliation$135m
Bookkeeping$87.9m
Payables and receivables$72m
Tax and compliance$30m
Document capture$500,000
Top investors
April, rounds led or joined
- ICONIQ Growth 2 rounds, led
- Khosla Ventures 2 rounds, led
- Founders Fund 2 rounds, 1 led
- Greenoaks 2 rounds
- Sequoia Capital 2 rounds
Every round
Largest first, as announced
Download all All 925 rounds since 2020| Company | Amount | Round | Led by | Product area |
|---|---|---|---|---|
| Rippling | US$200m | Series F | Coatue | Payroll |
| Ramp | US$150m | Series D | Khosla Ventures, Founders Fund | Spend management |
| Pigment | US$145m | Series D | ICONIQ Growth | FP&A and forecasting |
| FloQast | US$100m | Series E | ICONIQ Growth | Close and reconciliation |
| Shine | €82m | Private placement | Investcorp | Bookkeeping |
| Netgain | US$35m | Funding round | Close and reconciliation | |
| Anrok | US$30m | Series B | Khosla Ventures | Tax and compliance |
| Payflows | €25m | Series A | Balderton Capital | Payables and receivables |
| FinQuery | US$25m | Funding round | Spend management | |
| Mimo | £15.5m | Seed round | Northzone | Payables and receivables |
| Pliant | €18m | Series A extension | PayPal Ventures | Spend management |
| Toku | US$9.3m | Series A | Gradient Ventures | Payables and receivables |
| Tabs | US$7m | Seed round | Lightspeed Venture Partners | Payables and receivables |
| Kappa | US$5m | Seed round | Morningside | Payables and receivables |
| UserHub | US$3.2m | Pre-seed round | 468 Capital | Payables and receivables |
| Radar | US$1.5m | Pre-seed round | Payables and receivables | |
| Lemon | £500,000 | Pre-seed round | SFC Capital | Spend management |
| DocsInBox | US$500,000 | Funding round | Document capture |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
