Botkeeper secured $25 million in Series B backed by Point72 Ventures

Botkeeper, a Boston based Artificial Intelligence-powered bookkeeping company, has now secured $25 million in Series B funding round.

Botkeeper is founded by Enrico Palmerino in the year 2015. The company offers an Artificial Intelligence-powered platform that digests financial data and processes it via machine learning models. The platform ensures higher accuracy with a skilled team of accountants and delivers accurate financial data. To date, company has secured $47.5 Million in funding rounds.

Chris Mahl, President and CRO at Botkeeper, said, "We could not be more excited for the great partnership with our new and existing investor teams. The team at Botkeeper, along with our industry-innovating Partner Firms, are fast at work transforming the space around pre-accounting. Our single focus is to continue to drive value and difference to our member firms, allowing them to experience unprecedented growth in all key areas the Botkeeper solution touches. We know this is just the beginning."

Scott Dorsey, Co-Founder and Managing Partner at High Alpha, said, "Botkeeper has seen incredible growth as they bring AI and automation to bookkeeping and back-office operations. I am excited to work with Enrico and his talented team as they continue to scale and create the future of bookkeeping."

The Point72 Ventures led the latest funding round. Other participating investors include Republic Labs, Peak State, Alpha Capital, Oakridge, and Gradient Ventures.

The company, as of now, has plans to use the new funds to advance its AI-powered bookkeeping solutions to new firms across the country, and grow its sales, engineering, development, and customer success teams, notes the announcement.

PC: Pablo, Pixabay