Puzzle Raises $15M in Series A Funding

Puzzle

Puzzle, a San Francisco, CA-based provider of an accounting platform for startups, raised $15m in Series A funding.

The round was led by General Catalyst, FOG Ventures, XYZ, Felicis, Sterling Road, Kapor Capital, and angels Gokul Rajaram, Eric Reis, Ayo Omojola, Village Global, OnDeck, and an alumni syndicate from Y-Combinator.  

The company intends to use the funds to expand operations and its development efforts.

Puzzle is building a single solution combining smart accounting software and a real-time financial data platform.  This merge brings capabilities beyond legacy accounting software, making it easy for founders (and their finance teams) to build a scalable foundation for fundraising, taxes and improving business health – all in one place, in real-time.

It leverages modern APIs from companies such as Stripe, Brex, Ramp, Mercury, Rippling, Gusto, and Plaid, to enable a new set of capabilities including:

  • Detailed financial statements, startup metrics (like true cash, burn, runway, ARR), spend analysis, people and teams, revenue by customer, product and account, and “spotlight” trend analysis that show a comprehensive complete picture of financial health.
  • Verifiably accurate financials across cash and accruals for fundraising, taxes and audits.
  • A learning system that improves every day across categorization, suggestions, anomaly detection, etc.

FinSMEs

18/02/2023