Total amount raised
$12 Million
Latest funding date
10/1/2024
Location
Kick has raised $20 million over 4 funding rounds, with notable investors including Felicis, General Catalyst, and Google Ventures. The platform offers self-driving bookkeeping services, automating accounting tasks for business owners and accountants.
Keep reading to explore the intricacies of Kick's fundraising journey and the investors backing this innovative platform.
What Is Kick?
Kick is a private company based in Palo Alto, California, specializing in accounting software that automates bookkeeping tasks. The company operates in various sectors, including Accounting, Apps, Bookkeeping and Payroll, FinTech, SaaS, and Tax Preparation.
With an employee count ranging from 11 to 50, Kick offers a self-driving bookkeeping service designed to simplify accounting for businesses. The platform provides features like real-time transaction categorization, deduction handling, and customizable rules, making it a valuable tool for business owners and accountants alike.
How Much Funding Has Kick Raised?
- Amount Raised: USD 3,000,000
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of their self-driving bookkeeping software.
- Amount Raised: Not publicly disclosed
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's features and expand the user base.
- Amount Raised: USD 9,000,000
- Date: October 2024
- Lead Investors: General Catalyst, OpenAI Startup Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up operations and deliver more powerful features for automating accounting tasks.
Total Amount Raised: USD 12,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies across various sectors. They are known for backing transformative companies that drive positive change.
- Investment Focus Areas: Technology, healthcare, consumer products, enterprise software
- Notable Investments: Airbnb, Stripe, Snap
- OpenAI Startup Fund
- Details: The OpenAI Startup Fund is associated with OpenAI and focuses on investing in startups that leverage artificial intelligence to create transformative technologies.
- Investment Focus Areas: Artificial intelligence, early-stage AI companies
- Notable Investments: AI-driven startups
- Lachy Groom
- Details: Lachy Groom is a notable investor formerly associated with Stripe. He has a keen interest in fintech and technology startups.
- Investment Focus Areas: Fintech, technology startups
- Notable Investments: Likely involved in fintech startups
- Michael Vaughn
- Details: Michael Vaughn is a former executive at Venmo, bringing significant experience in payment solutions and fintech.
- Investment Focus Areas: Fintech, payment solutions
- Notable Investments: Likely involved in payment solutions
- Eric Glyman and Karim Atiyeh
- Details: Eric Glyman and Karim Atiyeh are the founders of Ramp, a financial technology company that offers corporate cards and expense management solutions.
- Investment Focus Areas: Financial technology
- Notable Investments: Ramp
What's Next for Kick?
Kick stands at the cusp of significant growth, driven by the increasing demand for automated bookkeeping solutions among small and mid-size businesses. With a market of nearly 35 million small businesses in the U.S. alone, the potential for expansion is immense. The company's AI-driven software, which automates tedious accounting tasks, positions it well to capture a substantial share of this market.
Future fundraising opportunities appear promising, given the strong backing from notable investors and the successful $9 million seed round. As Kick continues to demonstrate growth and scalability, it is likely to attract further investment to enhance its platform and expand its user base. However, the company may face challenges such as competition from established players and the need to ensure the accuracy and reliability of its AI systems.
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