Accounting TechnologyFunding Report May 2025
May 2025Published 1 June 2025
Accounting and finance software companies raised US$697m across 16 rounds in May, up 68% on April's US$415m. Payroll and practice management took the largest shares.
US$700mRaisedin May
16Rounds11 in April
US$450mLargestRippling
US$1.8bn2025 so far
Raised each month
All rounds by month, US$ millions
Where the money went
By product area, US$ millions
Payroll$477m
Practice management$100m
ERP and general ledger$25m
Payables and receivables$22.1m
Spend management$18m
Tax and compliance$17.2m
Bookkeeping$14.5m
Close and reconciliation$13m
Audit$6.2m
FP&A and forecasting$4.4m
Top investors
May, rounds led or joined
- Wenvest Capital 2 rounds, 1 led
- Acadian Ventures 1 round, led
- Alstin Capital 1 round, led
- Arkam Ventures 1 round, led
- Athera Venture Partners 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$450m | Series G | Payroll | |
| HubSync | US$100m | Growth round | Thoma Bravo | Practice management |
| Rillet | US$25m | Series A | Sequoia Capital | ERP and general ledger |
| Miter | US$23m | Funding round | Bessemer Venture Partners, Coatue Management | Payroll |
| Filed | US$17.2m | Pre-seed and Seed | Northzone | Tax and compliance |
| Circula | €15m | Series A extension | Alstin Capital, Capnamic Ventures, Peak Capital, Wenvest Capital, Storm Ventures, CIBC Innovation Banking | Spend management |
| RightRev | US$13m | Series A | Cheyenne Ventures, Innovius Capital | Close and reconciliation |
| FlexPoint | US$12m | Series A | Foundry Group | Payables and receivables |
| Uplinq | US$10m | Series A | Next Coast Ventures | Bookkeeping |
| Hyperbots | US$6.5m | Series A | Arkam Ventures, Athera Venture Partners | Payables and receivables |
| Celery | US$6.25m | Seed round | Team8 | Audit |
| Outmin | €4m | Funding round | Praetura Ventures | Bookkeeping |
| Una Software | US$4.4m | Seed round | Staircase Ventures | FP&A and forecasting |
| Ontik | €3.2m | Seed round | Firstminute Capital | Payables and receivables |
| Penzilla | €3.2m | Seed round | Acadian Ventures, Delin Ventures | Payroll |
| Groundley | €970,000 | Seed round | Spend management |
How it’s compiled
- Every funding round announced
- Software for accountants and CFOs
- Rounds as announced, totals in US$
Get the funding report on the 1st of each month, with the accounting technology briefing for finance professionals.
