Lockstep, a Seattle, WA-based connected accounting platform, received a strategic investment from Amex Ventures.
The amount of the deal, which finishes out the A+ round and brings total funding to $17M since inception, was not disclosed.
The company intends to use the funds to expand personnel in product, engineering, and marketing.
Founded in 2019 by Peter Horadan, Chief Executive Officer and Co-founder, Lockstep provides an accounting platform, which connects the world’s accounts receivable (AR) and accounts payable (AP) departments so they can work better together. The platform, which integrates with cloud and on-premise Enterprise Resource Planning and accounting solutions, processes over $2.5B of invoices per month across four million accounting departments.
Lockstep announced their Series A in February of this year led by Point72 Ventures with participation from Clocktower Ventures, Revel Partners, and Avid Ventures.