The corporate will use the funding to develop its New York-based workforce and put money into new R&D initiatives.
LiveFlow, an accounting automation platform with some large names behind it, has bagged $13.5m in Collection A funding.
The beginning-up was based by Irishman Evan O’Brien, a former Internet Summit software program engineer, and former Revolut staff Anita Koimur and Lasse Kalkar.
Inside a yr of beginning, LiveFlow had raised $3.5m in seed funding in 2021 to construct an automatic finance platform for corporations. Traders included Klarna co-founder Victor Jacobsson, VP of product at Google Bradley Horowitz and former VP of worldwide growth at Airbnb Oliver Jung.
The corporate builds instruments that assist corporations streamline their monetary administration by giving finance groups real-time perception and studies from the numerous quantities of information that might in any other case be processed by means of instruments like Excel and Google Sheets.
The newest Collection A funding spherical was led by New York Metropolis-based Valar Ventures, a VC agency co-founded by Peter Theil that has fintech corporations Clever and N26 in its portfolio.
LifeFlow mentioned the brand new funding can be used to develop its New York-based workforce and put money into new R&D initiatives.
Together with the funding, LiveFlow’s CEO Kalkar mentioned the start-up is launching its new platform, LiveFlow Subsequent, which can enable customers to construct customized consumer dashboards, clever forecasting, business benchmarking and AI-driven transaction categorisation.
“Over time, I’ve realized that companies rent accountants not simply to handle their books, however to have peace of thoughts figuring out somebody has their again. Whereas know-how will drive important developments, the human component of accounting remains to be essential,” Kalkar mentioned in a blogpost.
“That’s why it’s important to draw younger graduates to the business once more by constructing software program that automates the tedious elements of the job. This fashion, accountants can concentrate on offering clever monetary evaluation and recommendation, reasonably than simply processing transactions.”
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