Botkeeper, an AI-powered bookkeeping platform, raised $25 million in Series B funding, bringing its total funding to $47.5 million.
Point72 Ventures, a venture capital firm, led the funding round with participation from High Alpha Capital, Republic Labs, Oakridge Management Group, Peak State, Ignition Partners, Greycroft Partners, Gradient Ventures, and Sorenson Capital.
Botkeeper provides automated bookkeeping support to accounting firms and businesses using a combination of skilled accountants, machine learning, and artificial intelligence.
The new infusion of capital will enable the company to continue accelerating its mission in the accounting industry, with a focus on accounting partnerships, introducing its advanced AI-powered bookkeeping to new firms around the country, and growing its development, engineering, sales, and client success teams.
The Botkeeper AI-driven platform helps automate common bookkeeping workflows, provides answers to client questions, and can request more info when necessary, much the same way a regular bookkeeper would. The platform integrates with a client’s bank accounts, credit cards, HR system, and POS system, and makes appropriate entries and adjustments to their QuickBooks or Xero accounts.
“Botkeeper has seen incredible growth as they bring AI and automation to bookkeeping and back-office operations,” said Scott Dorsey, Co-Founder and Managing Partner at High Alpha. “I am excited to work with Enrico and his talented team as they continue to scale and create the future of bookkeeping.”
Image Credit: Botkeeper