Puzzle, an AI-powered accounting solution, has successfully secured $30m in new funding.
This significant investment round was led by S32 and XYZ Capital, with notable contributions from General Catalyst, Felicis, Kapor Capital, Sterling Road, Born Ventures, and several other key investors, including more than 50 CFOs and operator angel investors.
The raised capital of $30m reflects the growing confidence in Puzzle’s mission to reshape the accounting landscape. This investment is timely as the accounting sector is currently experiencing a shift, with AI advancements, like ChatGPT version 4 passing the CPA exam, creating new possibilities.
At its core, Puzzle is pioneering in transforming static accounting data into dynamic, real-time financial insights. The platform has seamlessly integrated with pivotal FinTech tools, including Stripe, Gusto, Rippling, Mercury, Brex, Ramp, and Pulley, to provide comprehensive support for rapidly growing companies.
The new funding is earmarked to propel Puzzle’s vision of automating and modernizing financial processes. This ambition is further reflected in the recent double-digit monthly growth since its launch in July, showing the market’s robust demand for innovative accounting solutions.
It has revolutionized core accounting processes, ensuring smarter, faster, and more integrated operations with modern FinTech platforms. The company has also reported a remarkable 15% customer growth month-over-month.
“Puzzle has seen rapid double-digit monthly growth, demonstrating a strong demand for a new kind of accounting solution,” Puzzle CEO Sasha Orloff commented. “Today’s investment solidifies our position to take the lead in bringing accounting into the modern era with our generative AI platform.”
Sasha Orloff further added, “Our goal is for Puzzle to become the essential financial infrastructure for all modern companies. We’re empowering founders with insights and accountants with software that finally fits how they work today.”
Prior to this round, Puzzle has cumulatively raised $50m, marking a significant milestone in its journey to redefine accounting in the digital age.
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