Roger.ai, a San Francisco, California-based accounting automation tool, as per recent reports last week, has just closed a Series A round, raising $7.35 million in investment funding. The funding round was led by QED Investors, an Alexandria, Virginia-based venture capital and private equity firm, and was participated by 9Yards Capital, Silicon Valley Bank, Financial Venture Studio, BootstrapLabs, and Dan Wernikoff, former GM of QuickBooks and TurboTax, along with the company’s other angel investors.
Roger, which was originally established in Denmark, offers accounting automation tool that by working on top of the existing accounting software automate the financial processes like bill pay, receipt scanning, approvals, compliance and bookkeeping with simplistic workflows.
The firm’s customer base comprises of small and mid-sized businesses from all the industries, along with other bookkeeping big hunks and major accounting firms.
“This investment will allow to help every business avoid spending time in their accounting software and enable accountants to spend their time advising and crunching the numbers instead of doing manual work,” states Cathrine Andersen, co-founder & CEO, Roger.
“We have built a great foundation, and this investment means we can give every customer a world-class experience even as we are growing very rapidly,” states Christian Rasmussen, co-founder & CTO, Roger.
Since the market launch of its accounts payable automation tool for small businesses, last year, in early 2018, Roger has made its presence well known by quickly growing to thousands of paying customers, and more than 100 accounting partners.