The article also highlights that AI and freelance are significant focus areas in the accounting and auditing sector. Several startups, including Stampli and Trullion, are leveraging AI for invoice processing and recordkeeping, while others like Indy and Hnry are developing accounting automation tools for freelancers and self-employed workers. Despite a year-over-year decrease, companies in the accounting category still secured over $700 million in funding in 2023.
Key takeaways:
- DataSnipper, an audit automation platform, has raised $100 million in a Series B financing round led by Index Ventures, setting a $1 billion valuation for the company.
- The company claims its tools can automate up to 90% of menial tasks for auditors and has seen its customer base and revenue double in the past year.
- Despite a year-over-year decrease in funding to the sector, companies in the Crunchbase accounting category still closed on more than $700 million in 2023.
- AI and freelance are significant focus areas in the accounting and auditing sector, with companies such as Stampli and Trullion leveraging AI for invoice processing and recordkeeping, and Indy and Hnry targeting freelancers and self-employed workers.