Total amount raised
$172.1 Million
Latest funding date
1/1/2022
Location
Pilot has successfully raised funding over six rounds, with the latest being a Venture - Series Unknown round. The company is backed by 28 investors, including recent ones like Toy Ventures and Empede Capital.
Keep reading to explore the intricacies of Pilot's fundraising journey and the investors backing this innovative platform.
What Is Pilot?
Pilot is a private company based in San Francisco, California, offering a range of services including bookkeeping, tax, and CFO services for growing businesses. The company operates in various industries such as accounting, artificial intelligence, financial services, and software.
Founded with the aim to support startups and small businesses, Pilot has grown significantly, now employing between 251 and 500 people. The platform combines smart tools with expert financial guidance to help businesses make data-driven decisions and scale effectively.
How Much Funding Has Pilot Raised?
- Seed Round
- Amount Raised: USD 3,300,000
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product offering.
- Series A
- Amount Raised: USD 15,300,000
- Date: March 2018
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 43,000,000
- Date: April 2019
- Lead Investors: Index Ventures, Stripe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: USD 110,500,000
- Date: January 2021
- Lead Investors: Bezos Expeditions, Sequoia Capital, Whale Rock Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To modernize back office operations and expand service offerings.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Akkadian Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and enhancing the platform.
Total Amount Raised: USD 172,100,000. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in early-stage companies since 1972. It has a strong track record of backing successful technology companies.
- Investment Focus Areas: Technology, healthcare, consumer, financial services
- Notable Investments: Apple, Google, Oracle
- Index Ventures
- Details: Index Ventures is a global venture capital firm that supports entrepreneurs in the technology and life sciences sectors. The firm has offices in London, San Francisco, and Geneva.
- Investment Focus Areas: Technology, life sciences, financial services
- Notable Investments: Dropbox, Etsy, Farfetch
- Stripe
- Details: Stripe is a technology company that builds economic infrastructure for the internet. Businesses of all sizes use the software to accept payments and manage their online operations.
- Investment Focus Areas: Financial technology, payment processing
- Notable Investments: Stripe itself is a major fintech company, and it has invested in other fintech startups.
- Bezos Expeditions
- Details: Bezos Expeditions is the personal investment company of Jeff Bezos, the founder of Amazon. The firm invests in a wide range of industries, including technology and space exploration.
- Investment Focus Areas: Technology, media, space exploration
- Notable Investments: Twitter, Uber, Airbnb
- Whale Rock Capital Management
- Details: Whale Rock Capital Management is a hedge fund that focuses on technology, media, and telecommunications sectors. The firm is known for its long-term investment approach.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Amazon, Facebook, Netflix
What's Next for Pilot?
Pilot stands at the cusp of significant growth, driven by the increasing demand for scalable back office solutions among small and medium-sized businesses (SMBs). With over 1,000 customers and more than $3 billion in bookkeeping transactions in 2020, the company is well-positioned to expand its customer base and enhance its service offerings.
Future fundraising opportunities appear promising, given the successful Series C round and backing from high-profile investors like Sequoia Capital and Index Ventures. However, Pilot may face challenges such as competition and maintaining service quality as it scales. The company's ability to navigate these hurdles will be crucial for its continued success.
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