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Procure AI 🇬🇧 Latest Deals in Accounting
$200M
French accounting software platform Pennylane has raised $200 million in a funding round led by growth investor TCV, with participation from Blackstone Growth and existing investors like Sequoia and CapitalG. The funding values Pennylane at approximately $4.25 billion and will be used to enhance R&D, particularly in Germany, and improve payment and cash management offerings. Founded in 2020, Pennylane aims to centralize financial functions for startups and SMEs across Europe.
PENNYLANEInvestors: TCV, Blackstone Growth, Sequoia, CapitalG
$200M
Pennylane, a French company, has raised $200 million in a funding round led by TCV, with participation from Blackstone Growth, Sequoia, DST, CapitalG, and Meritech. The company offers an all-in-one platform that streamlines accounting, financial management, and payments, addressing the challenges faced by accountants and their clients. With 6,000 accounting firms and 800,000 companies supported, Pennylane aims to enhance its AI capabilities and strengthen its market position in Europe's accounting software sector.Investors: TCV, Blackstone Growth, Sequoia, DST, CapitalG, Meritech
$9M
Cynch AI, a San Francisco-based company, raised $9 million in an equity investment round led by True Global Ventures to enhance its AI-driven tax automation software and support acquisition-led growth in the tax and accounting sector.
CYNCH AIInvestors: True Global Ventures
$6.5M
Double, a management platform for accounting firms, has raised $6.5 million in a Series A round led by Album Ventures. This funding increases its total capital to over $12.5 million, addressing challenges in close management with AI solutions.Investors: Album Ventures
$13.75M
Yonda Tax has secured £11 million to enhance its global tax automation platform, addressing complex tax compliance for businesses. Led by Kennet Partners, the company has achieved over 100% year-on-year growth, with 60% of customers in the US.
YONDA TAXInvestors: Kennet Partners
$13.75M
Yonda Tax, a global tax automation platform, raised £11 million to streamline international tax compliance for businesses. Led by Kennet Partners, the funding will enhance platform features and support expansion into new industries. The company has seen over 100% growth year-on-year.Investors: Kennet Partners
Procure AI has raised $13 million in a seed round led by Headline, with participation from C4 Ventures, Futury Capital, and angel investors. The company specializes in autonomous procurement technology, addressing inefficiencies in the procurement process as it aims for international expansion.
Investors: Headline, C4 Ventures, Futury Capital
Procure AI, a London-based company founded in 2021, raised £9.8 million in a seed round led by Headline, C4 Ventures, and Futury Capital. The company develops AI-native procurement and supply chain management technology, addressing inefficiencies in procurement processes.
Investors: Headline, C4 Ventures, Futury Capital
Procure AI, a London-based startup focused on AI-native procurement and supply chain management, has raised $13 million in seed funding led by Headline, with participation from C4 Ventures, Futury Capital, and industry angels. The platform addresses B2B procurement complexities, enhancing efficiency and cost reduction for enterprises like EnBW and Kärcher.
Investors: Headline, C4 Ventures, Futury Capital
Procure AI, a London-based company that automates procurement workflows using AI, raised $13 million in seed funding led by Headline, with participation from C4 Ventures and Futury Capital. The funds will be used to expand operations and development efforts.
Investors: Headline, C4 Ventures, Futury Capital
Bhub, a São Paulo-based accounting company that integrates AI with accounting services for Brazilian entrepreneurs, raised $10 million in funding. The round was led by Next Billion Capital Partners, with participation from Valor Capital, Monashees, and HedoSophia, extending previous investments from the IFC (World Bank).
BHUBInvestors: Next Billion Capital Partners, Valor Capital, Monashees, HedoSophia, IFC
Procure AI Ltd. has raised $13 million in a seed funding round led by Headline, with participation from C4 Ventures. The startup focuses on automating business procurement tasks, addressing the critical need for efficient sourcing of components and supplies.
Investors: Headline, C4 Ventures
Procure AI, a London-based company specializing in AI-driven procurement automation, raised $13 million in seed funding led by Headline, with participation from C4 Ventures and Futury Capital. The platform addresses operational complexity in procurement, enabling significant cost savings and efficiency improvements for enterprises managing complex supply chains.
Investors: Headline, C4 Ventures, Futury Capital
Sphere has raised $21 million in a Series A funding round led by Andreessen Horowitz, with participation from Y Combinator and Felicis Ventures. The AI-driven company addresses the need for automated tax compliance as businesses expand globally amid increasing regulatory scrutiny.
Investors: Andreessen Horowitz, Y Combinator, Felicis Ventures
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