Accounting automation provider Botkeeper has announced that it has raised $ 42 million in Series C funding.
The company plans to use the money to expand its platform and customer success teams, as well as for strategic partnerships.
The funding round was led by Grand Oaks Capital, which was founded by Paychex founder Tom Golisano, who will join Botkeeper’s six-person board of directors.
âI couldn’t be more thrilled to collaborate with and learn from someone as legendary as Tom,â Botkeeper CEO and Founder Enrico Palmerino said in a statement. âThis partnership, capital and the addition of Tom to our board of directors will help accelerate our growth and product strategy. We remain hyper-focused on providing solutions to accountants and the industry as a whole that maximize capacity, increase accuracy, aid retention, accelerate growth and enhance the customer experience.
âI am excited to be a part of Botkeeper’s next phase of growth,â Golisano said in a statement. âEnrico has built an incredibly disruptive business that has enormous market potential. ”
Botkeeper combines artificial intelligence, machine learning, and its own skilled accountants to provide automated accounting support specifically for accounting firms. It raised $ 25 million in Series B funding in June 2020 and $ 18 million in Series A funding in December 2018.