Total amount raised
$67 Million
Latest funding date
7/1/2022
Location
Tesorio has successfully raised funding over five rounds, with the latest being a Series B round led by BAMCAP. The company is backed by a total of 22 investors, including notable names like Madrona and Susan Wojcicki.
Keep reading to explore the intricacies of Tesorio's fundraising journey and the investors backing this innovative finance operations platform.
What Is Tesorio?
Tesorio is a private company based in San Francisco, California, specializing in finance operations automation using AI. The company operates in multiple industries, including finance, financial services, fintech, machine learning, marketing automation, and software.
With an employee count ranging from 11 to 50, Tesorio offers a platform that integrates various financial systems to provide real-time visibility, predictability, efficiency, and control over financial processes. The company has raised funding through a Series B round and is backed by 22 investors.
How Much Funding Has Tesorio Raised?
- Seed Round
- Amount Raised: USD 6,902,965
- Date: August 2018
- Lead Investors: Xplorer Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of Tesorio's platform.
- Seed Round
- Date: January 2018
- Investor Count: 12
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure early-stage funding for product development and market entry.
- Seed Round
- Date: August 2015
- Investor Count: 2
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund initial operations and product development.
- Series A
- Amount Raised: USD 10,000,000
- Date: August 2019
- Lead Investors: Madrona
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand market reach.
- Series B
- Amount Raised: USD 17,000,000
- Date: July 2022
- Lead Investors: BAMCAP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand go-to-market efforts and enhance leadership team.
Total Amount Raised: USD 33,902,965. Current Valuation: Not publicly disclosed.
Key Investors
- BAMCAP Ventures
- Details: BAMCAP Ventures is a venture capital group formed by accomplished entrepreneurs, corporate leaders, and finance professionals. They have been investing for a decade with excellent results and support ventures on both sides of the Atlantic.
- Investment Focus Areas: Technology, med tech, various other sectors.
- Notable Investments: HighLevel, Homie, Minoan.
- Madrona Venture Group
- Details: Madrona Venture Group is a venture capital firm that invests in early-stage technology companies. They are known for their focus on the Pacific Northwest region.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Amazon, Smartsheet, Redfin.
- First Round Capital
- Details: First Round Capital is a seed-stage venture capital firm that focuses on providing early-stage funding to technology companies. They are known for their hands-on approach with startups.
- Investment Focus Areas: Seed-stage technology companies.
- Notable Investments: Uber, Square, Warby Parker.
- Floodgate
- Details: Floodgate is a venture capital firm that invests in early-stage technology companies. They are known for their focus on transformative startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Twitter, Lyft, Okta.
- Xplorer Capital
- Details: Xplorer Capital is a venture capital firm that invests in technology-driven companies. They focus on innovative and disruptive technologies.
- Investment Focus Areas: Technology-driven companies.
- Notable Investments: Not publicly specified.
What's Next for Tesorio?
Tesorio stands at the cusp of significant growth opportunities, driven by its recent $17 million Series B funding. The company aims to expand its go-to-market efforts and introduce new products like A/R Forecast and Cash Application. With a platform that manages over $23 billion in invoices annually, Tesorio is well-positioned to become a leading cash flow performance platform for mid-market accounting teams.
Future fundraising opportunities appear promising as Tesorio continues to demonstrate strong growth and market traction. The involvement of high-profile investors and new leadership with extensive experience in sales and marketing further bolsters its potential for attracting additional investment. However, the company must navigate a challenging investment climate marked by increased investor selectivity and a slowdown in venture capital deal-making.
Despite these challenges, Tesorio's focus on leveraging automation and real-time financial insights aligns well with current industry trends. The company must continue to innovate and enhance its platform to stay ahead of competitors and meet evolving customer needs. If successful, Tesorio could see further investment and possibly strategic acquisitions to enhance its market reach and product capabilities.
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