18 SaaS Startups in the Accounting Industry

January 24, 2023

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SaaS startups have become the darling of Venture Capital investors, especially in the Accounting industry. Over the past decade, software has proverbially “eaten the world” and SaaS companies have scaled to become unicorn corporations in staggering amounts of time.

In this article, we are examining 18 VC funded SaaS startups in the Accounting industry.

Blockpit GmbH

A cross-platform monitoring tool created by Blockpit is aimed at both businesses and individual cryptocurrency traders. This makes it possible to calculate taxable cryptocurrency revenue in a straightforward manner and for tax advisers to accept the tax return. Taxes on gains are frequently unknown to cryptocurrency traders. It is challenging to maintain track of the individual deals while trading often. This is mostly due to the need that every transaction, including those using cryptocurrency, be assessed as a taxable event. It will be challenging to offer a declaration or proof later if the tax office asks for it. Where Blockpit's software can be useful is in this situation. All sources of revenue are automatically logged and a clear log is produced by the monitoring platform. Each and every transaction is imported, ensuring daily record of every exchange. The customer also receives information on taxable earnings and speculating windows, as well as a summary of the evolution of his portfolio.

Company details:
Founders:
Florian Wimmer, Gerd Karlhuber, Gert Weidinger, Magnus Berchtold, Mathias Maier, Patric Stadlbauer, Vladimir Tosovic
Founded:
2017
Based in:
Linz, Oberosterreich, Austria
Industries:
Accounting, Blockchain, Cryptocurrency, FinTech, Personal Finance, SaaS, Software
Latest funding:
$9,906,221
Series A
7 July 2021
Total funding:
$12,693,945
Investors
Fabric Ventures, Middlegame Ventures, European Super Angels Club, FiveT Fintech (formerly Avaloq Ventures), coinIX

Expensya

For enterprises, Expensya offers an automated online and mobile solution for expenditure management. By utilizing technologies like the Cloud, Artificial Intelligence, Machine Learning, Big Data, and Business Intelligence, the platform solves problems specific to modern professions and automates the administration of expenditure reports from the receipt stage to its archiving. It is available in eight different languages and is customized to meet the demands of individual businesses as well as the regional accounting standards of almost fifty different nations. Karim Jouini and Jihed Othmani jointly co-founded the business in 2014.

Company details:
Founders:
Jihed Othmani, Karim Jouini
Founded:
2014
Based in:
Paris, Ile-de-France, France
Website:
Expensya
Industries:
Accounting, FinTech, SaaS, Software
Latest funding:
$20,000,000
Series B
30 April 2021
Total funding:
$25,600,000
Investors
Bpifrance, Seventure Partners, Isai, Silicon Badia, MAIF Avenir

Finaloop

For American internet retailers, Finaloop offers an accounting and company tax filing solution. We effortlessly link with your digital applications and take care of all aspects of your accounting for you. You don't need to employ tax accountants or bookkeepers. You can now gain real-time financial intelligence and save time and money with Finaloop.

Company details:
Founders:
Eliran Azulai, Lioran Pinchevski, Omri Haim, Yaron Revah
Founded:
2019
Based in:
Brooklyn, New York, United States
Website:
Finaloop
Industries:
Accounting, E-Commerce, FinTech, SaaS, Small and Medium Businesses
Latest funding:
$15,200,000
Seed
1 October 2021
Total funding:
$17,000,000
Investors
Accel, Operator Partners, Aleph, Danny Leshem, Axon Ventures

FloQast

By centralizing the workflow, allocating responsibilities, keeping track of supporting paperwork, and automating reconciliations, FloQast creates cloud-based software that assists in managing accounting departments. It is an expert in financial services, accounting, and software as a service.

Company details:
Founders:
Cullen Zandstra, Mike Whitmire
Founded:
2013
Based in:
Sherman Oaks, California, United States
Website:
FloQast
Industries:
Accounting, B2B, Enterprise Software, SaaS
Latest funding:
$110,000,000
Series D
21 July 2021
Total funding:
$202,850,000
Investors
Norwest Venture Partners, Insight Partners, Wavemaker Partners, Redpoint, Sapphire Ventures

Fluence Technologies

The sole financial closing and consolidation software for mid-sized businesses is offered by Fluence. By providing game-changing efficiency gains and reliable, timely statistics, we provide customers the time, confidence, and performance they need. Fluence offers speedy implementation, acceptance, and time to value thanks to its out-of-the-box delivery, no-coding administration, and real Excel interface. Our clients can rely on us to satisfy their demands today and in the future thanks to a cloud calculating engine that has been decades in the making and was created by a team with centuries of combined expertise. Greetings from Fluence. We adjourn early.

Company details:
Founders:
Hervé CAPO, Josh Mal
Founded:
2018
Based in:
Toronto, Ontario, Canada
Industries:
Accounting, Cloud Management, Financial Services, SaaS, Software
Latest funding:
$10,000,000
Series A
4 May 2021
Total funding:
$10,000,000
Investors
MaRS Investment Accelerator Fund, Banneker Partners

Gappify

Gappify offers corporate accounting teams automation tools. By automating time-consuming, repetitive operations and optimizing processes, Gappify's automation software gives accountants the tools they need to handle the business issues of today. The startup was established in 2016 by former Big-4 accountants with the goal of technologically advancing the accounting industry.

Company details:
Founders:
Charlene Garland, Jotham Ty
Founded:
2016
Based in:
Oakland, California, United States
Website:
Gappify
Industries:
Accounting, Enterprise Software, Robotics, SaaS, Software
Latest funding:
$6,000,000
Series A
14 December 2021
Total funding:
$9,389,700
Investors
Rally Ventures, SaaS Ventures, Stage 2 Capital, Morgan Stanley Multicultural Innovation Lab, Manila Angel Investors Network

HighRadius

HighRadius is an enterprise Fintech Software-as-a-Service (SaaS) provider that uses Autonomous Systems powered by Artificial Intelligence to assist 600+ market-leading businesses in automating their Accounts Receivable and Treasury procedures. Through the automation of receivables and payments operations spanning credit, electronic billing and payment processing, cash application, deductions, and collections, the HighRadius® Integrated Receivables platform shortens cycle times in your order-to-cash process. In order to facilitate quicker A/R processing and improve their working capital, hundreds of mid-sized firms may use the HighRadius® RadiusOne AR Suite thanks to its cost-effective platform. Teams may accomplish touchless cash management and precise cash forecasting with the aid of HighRadius® Treasury Management Applications. HighRadius enables teams to use machine learning to forecast future outcomes and automate repetitive labor-intensive operations for order-to-cash teams, and it is powered by the RivanaTM Artificial Intelligence Engine and FreedaTM Digital Assistant. HighRadius solutions have a proven track record of improving cash flow, lowering days sales outstanding (DSO) and bad debt, and enhancing operational efficiency so that businesses may achieve high ROI in only a few months. Each year, they process over $2.23 trillion in receivables transactions. HighRadius has been recognized as a Leader by IDC MarketScape twice in a row and is the most popular solution in the market for accounts payable and treasury. Please visit www.highradius.com for further information.

Company details:
Founders:
Sashi Narahari
Founded:
2006
Based in:
Houston, Texas, United States
Website:
HighRadius
Industries:
Accounting, Artificial Intelligence, FinTech, Machine Learning, SaaS, Software
Latest funding:
$300,000,000
Series C
30 March 2021
Total funding:
$475,000,000
Investors
Tiger Global Management, PNC, ICONIQ Growth, Susquehanna Growth Equity, Howie Liu

Ignition

Ignition is a client engagement and commerce platform that streamlines client contact and payment for professional services organizations. Ignition is used by companies like accounting and bookkeeping services to help them expand, become more efficient, and develop beneficial customer connections. With Practice Ignition, professionals can quickly engage new and existing customers with a clear scope of work, win new business with stunning digital proposals, and get paid on time by automating payment collection - all in one location. Practice Ignition also integrates with popular applications to operate companies automatically and streamline time-consuming chores like billing and client onboarding.

Company details:
Founders:
Dane Thomas, Guy Pearson
Founded:
2013
Based in:
Surry Hills, New South Wales, Australia
Website:
Ignition
Industries:
Accounting, SaaS, Software
Latest funding:
$50,000,000
Series C
17 November 2021
Total funding:
$74,397,726
Investors
CIBC, Tiger Global Management, JMI Equity, Real Ventures, Black Sheep Capital

Khatabook

The fastest-growing SaaS startup in India, Khatabook provides safe and secure business and financial solutions to help micro, small, and medium-sized enterprises operate more efficiently and at lower costs. The business landscape in India has changed as a result of this industry's recognition, and the firm received the "Best Innovative Mobile App" 2020 award at the India Digital Awards in February 2020. Today, Khatabook has more than 20 million registered users and is available in more than 11 languages.

Company details:
Founders:
Ashish Sonone, Dhanesh Kumar, Jaideep Poonia, Ravish Naresh, Vaibhav Kalpe
Founded:
2018
Based in:
Bangalore, Karnataka, India
Website:
Khatabook
Industries:
Accounting, Financial Services, Payments, SaaS, Software
Latest funding:
$100,000,000
Series C
24 August 2021
Total funding:
$186,500,000
Investors
Tencent, Y Combinator, Balaji Srinivasan, RTP Global, GGV Capital

Klarity

Klarity's software simplifies your ASC 606 or IFRS 15 customer contract review process. Klarity normalizes your contract review controls through a standardized checklist, uses Machine Learning to review customer contracts for clauses with potential revenue impact, documents technical Revenue Recognition impact according to ASC 606 or IFRS 15, and stores all relevant documents (e.g. MSA, Order Form, RevRec schedule and Invoice) in one record.  Klarity was founded by Andrew Antos, a Harvard lawyer, and Nischal Nadhamuni, an MIT Computer Science graduate.

Company details:
Founders:
Andrew Antoš, Nischal Nadhamuni
Founded:
2017
Based in:
San Francisco, California, United States
Website:
Klarity
Industries:
Accounting, Artificial Intelligence, Document Management, Document Preparation, Machine Learning, SaaS, Software
Latest funding:
$18,000,000
Series A
24 January 2022
Total funding:
$20,375,000
Investors
Y Combinator, Crew Capital, Elad Gil, Picus Capital, Daniel Gross

LiveFlow

LiveFlow supports real-time collaboration, account consolidation, and automation of financial activities. Lasse Kalkar, Anita Koimur, and Evan O'Brien, who had previously worked as the engineering lead at Web Summit, established LiveFlow in 2021. Y Combinator, Seedcamp, Moonfire Ventures, WndrCo, as well as angel investors Victor Jacobsson, Bradley Horowitz, and others, have all supported LiveFlow.

Company details:
Founders:
Anita Koimur, Evan O'Brien, Lasse Kalkar
Founded:
2021
Based in:
San Francisco, California, United States
Website:
LiveFlow
Industries:
Accounting, SaaS
Latest funding:
$3,500,000
Seed
21 December 2021
Total funding:
$3,950,000
Investors
Seedcamp, Y Combinator, Bradley Horowitz, WndrCo, Moonfire Ventures

Pento

Pento provides a SaaS-based online platform intended to optimize payroll services. Its platform helps to automate payroll system and offer complementary features to employees, such as user-friendly access to pay history and personal pay-related data, enabling small and medium-sized companies to find a digital way to automate salary processing, taxes and is fully connected to HMRC. The company was founded in 2016 and is based in London, United Kingdom.

Company details:
Founders:
Emil Hagbarth Rasmussen, Jonas Bøgh Larsen
Founded:
2017
Based in:
London, England, United Kingdom
Website:
Pento
Industries:
Accounting, FinTech, SaaS
Latest funding:
$35,000,000
Series B
7 December 2021
Total funding:
$53,967,204
Investors
Seedcamp, General Catalyst, Tiger Global Management, PreSeed Ventures, LocalGlobe

Semine

The SEMINE.AI cognitive services offers shared service centers in enterprices and their developers to standardize the most labor-intensive financial object, using a semantic model for the classification of the invoice, and populate AI-models in order to enable automation. The automation includes cost distribution at both GL and dimension levels. Positioned as the market leader with AI in accounts payable the company is experiencing vast growth in the Nordics where most of the AP market leaders are born (Basware, Medius and Visma)

Company details:
Founders:
Jan Høgetveit, Robert Kristiansen
Founded:
2016
Based in:
Oslo, Oslo, Norway
Website:
Semine
Industries:
Accounting, Artificial Intelligence, Enterprise Software, Information Technology, Payments, Robotics, SaaS, Software
Latest funding:
$3,000,000
Series B
15 July 2022
Total funding:
$24,125,352
Investors
Kistefos Venture Capital, Skagerak Maturo, Amesto Solutions, Adolfsen Group

sevDesk

For sole proprietors and small enterprises, sevDesk makes accounting easier. They remove all the tedious chores using KI-based automation to make the accounting process painless.

Company details:
Founders:
Fabian Silberer, Marco Reinbold
Founded:
2013
Based in:
Offenburg, Baden-Wurttemberg, Germany
Website:
sevDesk
Industries:
Accounting, Cloud Computing, FinTech, Information Technology, SaaS, Small and Medium Businesses, Software
Latest funding:
$61,242,462
Series B
25 May 2021
Total funding:
$77,405,592
Investors
Global Founders Capital, Arena Holdings, Carsten Thoma, Wecken & Cie., MBG Baden Wuerttemberg

Synder

Synder is an easy accounting platform for e-commerce businesses.CloudBusiness is a fintech software company founded in 2016. It creates solutions for accounting automation and management of business finances for small and mid-size businesses. Synder is innovative accounting software famous for its multiple integrations and skyrocketing growth. In 2020 alone Synder processed over 1 Billion dollars worth of transactions for e-commerce and helped more than 20,000 businesses. Synder is a solution for e-commerce and SaaS businesses that work with a high volume of online transactions from different sources (Shopify, Amazon, Stripe, Square, Etsy, WooCommerce, PayPal with one-time or recurring payments). We automate bookkeeping of sales, simplify the accounts reconciliation process and facilitate more accurate and detailed reporting, including Profit&Loss and balance sheets. The high quality of our software and customer support is highlighted by the reviews of our clients. By the end of 2020, Synder reached more than 1000 5-star customer reviews on the QuickBooks App Store and top ratings on Capterra, Trustpilot, Crozdesk, and many other review platforms. Synder is a permanently growing company, which collaborates with multiple e-commerce platforms. Last year Synder connected 7 new and highly-demanded sales channels such as Amazon, Shopify, eBay, Etsy, and even more of them will be integrated next year. Moreover, every month Synder implements more and more new features: Smart Rules, Organizations for accountants who work with multiple clients, Multicurrency transactions

Company details:
Founders:
Ilya Kisel, Michael Astreiko
Founded:
2019
Based in:
San Francisco, California, United States
Website:
Synder
Industries:
Accounting, Cloud Computing, E-Commerce, FinTech, SaaS, Small and Medium Businesses, Software
Latest funding:
$1,000,000
Seed
31 August 2021
Total funding:
$3,000,000
Investors
TMT Investments, Born Capital

Veryfi

Documents into Data in Seconds. Accuracy & Speed Surpassing Humans. A fully integrated suite of data transformation products for you to securely capture, extract and transform bills, receipts and invoices into structured data for use in your mobile app, website or back office.

Company details:
Founders:
Dmitry Birulia, Ernest Semerda
Founded:
2016
Based in:
San Mateo, California, United States
Website:
Veryfi
Industries:
Accounting, Apps, Computer Vision, Construction, Developer APIs, Enterprise Software, Financial Services, Intelligent Systems, Mobile Apps, SaaS
Latest funding:
$12,000,000
Series A
6 April 2021
Total funding:
$12,700,000
Investors
Y Combinator, Zillionize, NewView Capital, TI Platform Management, Envestnet Yodlee Incubator

Workflow86

Each team establishes its own procedures for handling pull requests, handling issues, handling bugs, hiring new personnel, etc. These procedures are crucial, but they frequently go undocumented, require a lot of human labor, and switch between several SaaS applications. Build, automate, and manage your team's operational playbooks and business processes with Workflow86, an all-in-one platform. It has a ton of built-in features so you can accomplish more with only Workflow86 while yet making it really simple to connect to other tools when necessary. Forms, business logic, document templates, and other elements may all be added to your process step by step using drag and drop components. Non-technical team members (bizops, HR, admin, legal, risk, and compliance) may build up playbooks and processes on their own because it is no-code. You can execute a playbook or process automatically and at scale after it has been created. Automatically start playbooks when a certain event, time, or submission occurs.

Company details:
Founders:
Aaron Tran
Founded:
2020
Based in:
San Francisco, California, United States
Website:
Workflow86
Industries:
Accounting, Finance, Human Resources, SaaS, Software
Latest funding:
$3,620,000
Seed
1 April 2022
Total funding:
$3,994,104
Investors
Y Combinator, Y Combinator Continuity Fund, CyRise

Xendoo

Xendoo is a cutting-edge cloud-based accounting and bookkeeping tool designed with small businesses in mind. Through a technological base, the fintech startup offers small business owners access to CPAs, price certainty, and quickness to their statistics. By utilizing technology, Xendoo is revolutionizing the accounting sector and giving small company owners financial peace of mind so they can concentrate on what they do best—run their companies.

Company details:
Founders:
Lillian Roberts, Steven Gelley
Founded:
2016
Based in:
Fort Lauderdale, Florida, United States
Website:
Xendoo
Industries:
Accounting, FinTech, Information Technology, SaaS, Small and Medium Businesses, Software
Latest funding:
$3,750,000
Seed
10 June 2022
Total funding:
$8,525,000
Investors
Gaingels, LAUNCH, Village Capital, DeepWork Capital, Revolution

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