Accounting platform LiveFlow says it has closed on a $13.5 million Series A funding round. LiveFlow is a Fintec that powers an accounting automation platform that aims to assist accounting firms and finance departments. The funding round was led by Valar Ventures. Terms of the funding were not disclosed.
LiveFlow was founded by former Revolut executives Anita Koimur and Lasse Kalkar, along with ex-Web Summit engineering lead Evan O’Brien. LiveFlow is said to be already in use with thousands of accounting firms and finance departments across the US.
Kalkar explains that accountants have been bogged down with tedious tasks.
“Instead of streamlining workflows, most legacy software has only added to their burden. It’s time to equip them with the tools they’ve long needed, allowing them to move beyond processing transactions and filing taxes to becoming trusted advisors, offering tailored insights to their clients.”
LiveFlow will use the new money to launch LiveFlow Next, a platform that seeks to change accounting firms into high-growth financial advisory powerhouses.
Valar’s Founding Partner, James Fitzgerald, noted that 99% of customers are satisfied with the product.
“LiveFlow helps save countless hours per month while also eliminating human error. As LiveFlow scales, the company will have an incredibly positive impact on the businesses it serves. LiveFlow will give more companies a clearer picture of their day-to-day financial health, which is crucial for making sound financial decisions that lead to success.”
