Total amount raised
$4.3 Million
Latest funding date
6/1/2022
Location
Proper has successfully raised funds through a single Seed round, attracting investment from notable backers such as Redpoint, Y Combinator, BoxGroup, and Mischief. The platform offers automated financial reconciliation and streamlined accounting processes, integrating various financial data sources to provide a comprehensive financial data platform.
What Is Proper?
Proper is a financial operations platform based in San Francisco, California, offering reconciliation, ledgers, and financial workflow tools through software and APIs. The company operates in multiple industries, including accounting, financial services, fintech, payments, and risk management.
Intuit acquired Proper Finance's intellectual property and hired its team in March 2024, on terms that were not disclosed. The platform unified payments data across providers, automated reconciliations, and maintained compliance and financial accuracy.
How Much Funding Has Proper Raised?
- Seed Round
- Amount Raised: USD 4,300,000
- Date: June 2022
- Lead Investors: Redpoint Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop a no-code financial operations dashboard and support the company's goal of making data management easier for fintech companies.
Total Amount Raised: USD 4,300,000. Current Valuation: Not publicly disclosed.
Key Investors
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies. Founded in 1999, they have invested in over 578 companies.
- Investment Focus Areas: Technology startups, consumer and enterprise software, fintech, healthcare.
- Notable Investments: Stripe, Twilio, Netflix.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding, advice, and connections to early-stage startups. They have funded over 2,000 startups since their inception.
- Investment Focus Areas: Early-stage startups across various industries, including technology, healthcare, and fintech.
- Notable Investments: Airbnb, Dropbox, Stripe.
- BoxGroup
- Details: BoxGroup is an early-stage investment fund that invests in technology startups. They focus on providing seed-stage funding to innovative companies.
- Investment Focus Areas: Early-stage technology startups, consumer internet, enterprise software, fintech.
- Notable Investments: Warby Parker, Glossier, ClassPass.
- Mischief
- Details: Mischief is a venture capital firm that focuses on early-stage investments. They are known for backing innovative and disruptive startups.
- Investment Focus Areas: Early-stage technology startups, innovative and disruptive industries.
- Notable Investments: Notion, Clubhouse.
What's Next for Proper?
The no-code financial operations dashboard is no longer a Proper roadmap item, because Intuit acquired the intellectual property and hired the team. Redpoint Ventures led the $4.3 million seed round of June 2022, with Y Combinator among the backers, and it remains the company's only disclosed round.
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