Accounting automation tool raises $7.35m
Roger.ai, an accounting automation tool, has raised a $7.35 million Series A led by QED Investors.
The round also has participation from 9Yards Capital, Silicon Valley Bank, Financial Venture Studio, BootstrapLabs, and Dan Wernikoff, former GM of QuickBooks and TurboTax, along with other angel investors.
Originally built in Denmark, Roger works on top of existing accounting software to automate financial processes like bill pay, approvals, receipt scanning, compliance and bookkeeping with simple workflows.
Customers range from small to mid-sized businesses from virtually any industry, to bookkeeping and major accounting firms.
“This investment will allow to help every business avoid spending time in their accounting software and enable accountants to spend their time advising and crunching the numbers instead of doing manual work,” says Cathrine Andersen, Roger co-founder and CEO.
“We have built a great foundation, and this investment means we can give every customer a world-class experience even as we are growing very rapidly,” says Christian Rasmussen, co-founder and CTO.
Since going to market with its accounts payable automation tool for small businesses in early 2018, Roger has quickly grown to thousands of paying customers, including more than 100 accounting partners.