Digits closes its Series B on $22m

Digits, which offers real-time analysis for businesses, has closed its Series B round on $22m from more than 70 angel investors.

The capital injection was led by GV general partner Jessica Verrilli, who will also join Digits’ board of directors.

Alongside the angel investors, previous Digits backer Benchmark also contributed to the round.

In addition to the close of the round, Digits has launched an early-access programme for Digits for Expenses. The flagship product offers a real-time, machine-learned expense monitoring dashboard for small businesses.

US startups and small businesses can use the platform, and Digits will begin to support international companies later in the year.

To help companies overcome the current struggles the coronavirus is having, it will be free.

In a blog post announcing the funding, the company said, “As we’ve built Digits, we’ve been overwhelmed by the energy and excitement for our mission from founders, accountants, and investors alike, and we’ve been honoured to have the financial backing of Benchmark and over 70 passionate angel investors.

“We see this as a long-term, sustained effort, and Digits for Expenses is just the first chapter: we believe that innovations in technology, algorithms, and design have unlocked a new realm of possibility for financial software, and we are committed to making this vision a reality for businesses around the world.”

This capital injection comes just months after Digits raised $10.5m in its Series A from Benchmark and 72 angels.

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