Vic.ai, a NYC-based provider of an AI platform for accountants, closed an $11.2m Series A financing.
The round was led by GGV Capital with participation from new investor Costanoa Ventures and seed round lead investor Cowboy Ventures. In conjunction with the funding, Jeff Richards, managing partner, GGV Capital, will join the Vic.ai board of directors.
The company intends to use the funds to accelerate the growth of its team with talent in engineering, product development, support, sales, and marketing.
Co-founded by Alexander Hagerup, CEO, Kristoffer Røil, COO, and Rune Løyning, CTO, Vic.ai is an AI platform for Accounting firms & Mid-Market finance departments that automates accounting and leverages data to provide valuable insights and advisory information. The platform works in tandem with existing accounting, expense, tax or reporting software systems, learning how accounting teams work and then augments the accountant in order to speed up processing, increase accuracy, as well as helping the team with analytical and strategic insights.
The company also announced the opening of its third location, South Florida, expected to open in Q4-19. The new location will build upon the company’s headquarters in Midtown Manhattan and Oslo-based engineering and development team.