AccountsIQ Secures 60M Investment To Embed AI Into Its Platform And Shape The Finance Function Of The Future
AccountsIQ, a prominent cloud-based accounting platform, has recently secured a €60 million Series C funding from Axiom Equity, a specialized B2B SaaS growth equity fund. This substantial investment will be allocated towards further enhancing the AccountsIQ product, with a specific focus on incorporating advanced AI technologies to improve various aspects of the solution. This strategic move aims to position AccountsIQ as a trailblazer in shaping the future of finance functions.
AccountsIQ offers an extensive financial management system (FMS) through a Software-as-a-Service (SaaS) model, aimed at revolutionizing conventional finance operations. The platform tackles intricate financial hurdles such as multi-currency consolidation, multi-level approvals, seamless third-party integrations, and automation of routine tasks. By providing accurate information to the appropriate users at the right time, AccountsIQ enables finance teams to digitally collaborate with stakeholders, thereby enhancing the overall financial acumen (IQ) of the organization and facilitating improved decision-making processes.
Through this funding, AccountsIQ is poised to elevate its status as a premier global FMS provider. The company intends to significantly expand its workforce, with plans to grow its team to over 200 employees in the near future. Moreover, the investment will strengthen AccountsIQ's AI capabilities, enabling the platform to offer enhanced value to its diverse clientele. The integration of AI tools is anticipated to make finance roles more adaptable, valuable, and less monotonous, ultimately rendering these positions more stimulating and enriching.
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