Startup
Collective
Back office for one-person businesses in the US: entity formation, S corp election, bookkeeping, payroll and tax filing in one subscription, with accountants reviewing the books, now adding AI bookkeeping through the Open Ledger acquisition.
| Founded | 2019, San Francisco |
|---|---|
| Founders | Hooman Radfar (CEO), Ugur Kaner, Bugra Akcay |
| Stage | Series B and later |
| Total funding | $82m |
| Last round | $50m, July 2023; investors include General Catalyst, Sound Ventures, QED, Expa and Gradient |
| Acquisitions | Open Ledger, AI bookkeeping |
| What it does | LLC and S corp formation, monthly bookkeeping, payroll, quarterly and annual tax filing for solo business owners, with accountants reviewing the books and licensed tax professionals filing; a dedicated account manager on the S Corp plan |
| Traction | More than 12,000 solopreneurs; one of the largest tech-enabled accounting services for the self-employed in the US |
| Pricing | Two plans: LLC $199 a month and S Corp $349 a month; yearly billing saves 15% |
| Markets | US |
| Peers | Pilot, Bench, Kick, Zeni, Inkle |
Funding
- Announced rounds
- US$78.65m in three rounds
- Latest round
- Round, US$50m, July 2023, led by Gradient Ventures, Innovius Capital, The General Partnership, General Catalyst, QED, Expa and Better Tomorrow Ventures
Why it matters
Collective has raised $82 million to sell a full back office to sole proprietors from $199 a month, one of the largest subscription accounting services for individuals in the US. Its acquisition of Open Ledger shows the human-plus-software model moving to agents to protect its margins.
Accountio coverage
Collective Acquires Open Ledger to Bolster AI-Driven Bookkeeping
Part of Accountio’s accounting technology coverage.
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