202316 Feb

Puzzle Launches Smart Accounting Software for Startups; Announces $15M Series A led by General Catalyst

Summary

We have seen the impressive wave of finance innovation led by teams at Stripe, Brex, Ramp, Mercury, Rippling, Gusto, and Plaid, who built modern APIs that enable industry-defining automation and differentiation. A startup needs a solution for taxes and financial reporting, but in tighter funding environments founders need to be more on top of their balance sheet and performance metrics than ever before.Puzzle is a missing piece of a modern financial stackA startup can choose a modern stack for almost every part of their business......... except their core accounting solution is still 30+ years old.After building in stealth for 3 years with hundreds of startups as alpha testers, we started seeing founders sharing Puzzle with other founders, with their investors, and with their accountants. Verifiably accurate financials across cash and accruals for fundraising, taxes and audits, for increased confidence in moments where trust is created or broken. This limitation of capabilities is not a failure of accounting, but a failure of accounting software.So we rebuilt the accounting core, plus all the automation, collaboration and intelligence you would expect with any modern software.We are proud to announce that we raised a $15M Series A led by Hemant Taneja from General Catalyst (Stripe, Gusto, Ramp), FOG Ventures (an investing network of 700 venture-backed CFOs and operators), Ross Fubini from XYZ, Wes Chan from Felicis, Ash Rust from Sterling Road, Brian Dixon from Kapor Capital, and angels from Stripe, SVB, Brex, Mercury, Carta, AngelList, Square, Gusto, Plaid, LTSE, Airbase, renowned angel investors such as Gokul Rajaram, Lean Startup author Eric Reis, Ayo Omojola, founder networks Village Global, OnDeck, and an alumni syndicate from Y-Combinator, and accounting and auditing experts from KPMG, EY, Deloitte, PwC, Trivium Accounting and Tax, Integrated CPA as well as many other founders, operators, and early supporters. The world needs their ingenuity, and Puzzle exists to set them up for lasting success.Learn more about why we think now is the time to build the next generational accounting software.

Source: Puzzle

Funding

$15M
Amount
Feb 16 2023
Date
-
Investor
Puzzle Financial
Company

Classifications

Companies