Botkeeper, a Boston, MA-based AI-powered bookkeeping company, raised $25 million in Series B funding.
The round, which brought total funding to $47.5m, was led by Point72 Ventures, with participation from High Alpha Capital, Republic Labs, Oakridge, Peak State as well as existing investors Ignition Partners, Greycroft Partners, Gradient Ventures, Sorenson Capital.
The company intends to use the funds to introduce its AI-powered bookkeeping solutions to new firms around the country, and grow its development, engineering, sales, and client success teams.
Founded in 2015 and led by Enrico Palmerino, CEO, Botkeeper provides an AI-powered platform that connects and digests financial and non-financial data, processes it through its machine learning models, reviews and ensures accuracy with a skilled team of accountants, and delivers accurate financial data and closed books to accounting firms and businesses in either QuickBooks or Xero. The company also has offices in North Carolina, New York, and Balanga (PH).