Botkeeper raises $18M to usher in AI-driven bookkeeping

by Justine Hofherr
November 26, 2018
botkeeper
photo via shutterstock

You might have missed the news because you were too busy stuffing your face with leftovers (I know I was): Botkeeper, a Boston-based startup that uses artificial intelligence to automate bookkeeping, just raised $18 million — a pretty impressive Series A round.

The investment was led by some heavy hitters in the venture capital world, including Greycroft and Gradient Ventures, Google’s AI-focused venture fund.

The industry-leading combination of human [intelligence], artificial intelligence and scale Botkeeper delivers is reinventing the accounting experience.”

 

Botkeeper said the funding will be used to grow its sales, engineering and marketing teams.

In tandem with the funding, Botkeeper announced that it is bringing on Chris Mahl as chief revenue officer and executive vice president. Mahl joins Botkeeper after leading sales teams at companies including Salesforce and LevelUp.

“The industry-leading combination of human [intelligence], artificial intelligence and scale Botkeeper delivers is reinventing the accounting experience,” Mahl said in a statement.

With human assistance, Botkeeper’s smart accounting software can perform tasks like categorizing expenses, managing invoices, paying bills and entering data — which is super helpful, since humans are prone to making errors. Even pretty big ones, sometimes.

The platform integrates with clients’ banks, HR systems and POS systems, making it fast and simple to update their accounts.

Currently, Botkeeper supports around 1,000 companies, including Talla, ThinkBoard, MarketMuse and Ovia Health.

Existing investors, including Ignition Partners and Halfcourt Ventures, also participated in the round.

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