Tabs, a leader in revenue automation for B2B businesses, announced today that it has secured $25m in Series A funding.
The investment round was led by General Catalyst, with continued support from Primary Ventures and Lightspeed, reflecting the company’s rapid growth and the escalating demand from CFOs for integrated financial solutions.
This significant funding comes less than six months after Tabs’ initial seed round, underlining the swift progress and expansion of the company. Tabs addresses critical issues faced by finance teams, such as fragmented technology stacks and the nationwide shortage of skilled accounting professionals. By providing a unified platform, Tabs automates the entire revenue process for finance departments, streamlining tasks like invoicing, revenue recognition, and payment collection.
The newly acquired funds will be channeled into accelerating product development, with a particular focus on deepening integrations, enhancing analytics, and expanding go-to-market activities. Moreover, Tabs is set to scale its customer success team to better support the influx of CFOs aiming to simplify their revenue operations amidst ongoing challenges.
As an early adopter of the Tabs platform, Evan Pincus, VP Finance at Cortex, commented on the practical benefits of the solution: “With Tabs, we’re able to react to market changes quickly and scale without having to add headcount.” This sentiment underscores the effectiveness of Tabs in meeting the dynamic needs of modern finance teams.
In their remarks about the investment, Alex Tran, managing director at General Catalyst, highlighted the strategic value of Tabs. “We are thrilled to support the Tabs team as they build a complete revenue automation platform, bringing LLM-powered solutions to the finance org. In the time we’ve spent with them, we’ve been extremely impressed with their product velocity. We believe the need for a strategic CFO is becoming more critical, and we are seeing forward-thinking teams leverage innovative technologies to allow them to automate where possible, so they can focus on the biggest questions facing their business.”
Tabs CEO and co-founder, Ali Hussain, also expressed the urgency for automation within finance departments: “With the accounting talent shortage adding extra strain on finance departments, CFOs are urgently looking for ways to automate and centralize their revenue processes. Our platform addresses both the tech fragmentation and the resource constraints by empowering finance teams to operate more efficiently.”
This Series A round follows Tabs’ initial seed funding, positioning the company for continued growth in the B2B financial automation sector.
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