Boston Based AI Startup Secures $18M in Series A Funding

by StartupWorld Staff         

Botkeeper which is a Boston-MA based Artificial intelligence startup has now secured $18 Million in the funding round of Series A. The investors include the Gradient Ventures, Halfcourt Ventures, Mike Volpe, Stephen Messer, Jeff Fagnan, Julian Brodsky, Soreenson Capital, Matthew Dellavedova and Greycroft.

The company as of now has raised $22.5 Million in the funding round till date and has a plans to use the capital to grow across marketing, sales, and engineering. The startup which is led by the Enrico Palmerino, founder and Vice President and Chief Revenue Officer Chris Mahl. Bootkeeper is developing and Artificial Intelligence to automate the accounting and bookkeeping functions for the businesses.

The platform integrates with the credit cards, POS system, HR system, and client’s banks and makes all the appropriate entries and adjustments to their Xero accounts or Quickbooks, by providing businesses with a 24/7 Artificial Intelligence driven Botkeeper.

Botkeeper has its roots in the Founder Enrico Palmerino’s experiences which is running an accounting business where he saw firsthand the pain points which business owners face in managing the books.”At Botkeeper we're focused on bringing simplicity and dependability to the bookkeeping process, so business owners can focus on running their business,” says Enrico.

Botkeeper the feature of bookkeeping

The company tool as now is used by more than 1000 companies across the globe. “In the coming years, we expect AI to play an increasingly larger role in automating accounting and compliance functions.”

“Botkeeper has built a solution capable of supporting companies of all shapes and sizes- startups through Fortune 5000 companies.  After hearing raving reviews from clients at both ends of the spectrum, it was obvious that botkeeper had pulled it off,” said Mark Terbeek, Partner at Greycroft.  “We quickly decided that we needed Botkeeper ourselves, and needless to say, we saw the value overnight. Every company needs great bookkeeping, but all too often we see companies who still struggle to get it done right. We are thrilled to partner with a world-class company like botkeeeper that can get it right- every time.”


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