Startup
Truewind
AI bookkeeping and month-end close for accounting firms and in-house finance teams on QuickBooks Online or Sage Intacct: transaction coding, reconciliation of unstructured data and anomaly detection, backed by Thomson Reuters Ventures.
| Founded | 2022, San Francisco |
|---|---|
| Founders | Alex Lee (CEO, two-time Y Combinator founder and former investor), Tennison Chan (CTO, formerly Flexport, Pinterest and Alibaba) |
| Stage | Series A |
| Total funding | $17m |
| Last round | Series A, $13m, December 2024, co-led by Rho Capital and Thomson Reuters Ventures with Pathlight Ventures |
| Earlier rounds | Seed $3m, September 2023, led by Fin Capital and Y Combinator; extended to more than $4m with Thomson Reuters Ventures in February 2024 |
| What it does | AI coding of transactions, reconciliation of brokerage statements, payroll registers, point-of-sale data and fixed asset schedules, and close workflows for teams on QuickBooks Online or Sage Intacct, sold to accounting firms, nonprofits, family offices, startups and larger companies |
| Traction | More than 500 accountants; customers include HHL Advisors, Wiza, Superpath and StartPlaying |
| Pricing | Not published |
| Markets | US |
| Peers | Quanta, Kick, Zeni, Puzzle, Pilot |
Funding
- Announced rounds
- US$13m
- Round
- Series A, US$13m, December 2024, led by Rho Capital and Thomson Reuters Ventures
Why it matters
Truewind has raised $17 million with Thomson Reuters as an investor, one of the first AI bookkeeping companies to be backed by a tax and accounting incumbent. It sells to both accounting firms and in-house finance teams, which puts it in the middle of the fight over who owns the ledger.
Part of Accountio’s accounting technology coverage.
Truewind compared
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