Puzzle Raises $15 Million in Series A  

by Kay Aloha Villamor in February 21st, 2023

Puzzle, a San Francisco, CA-based startup that provides an accounting platform for startups, raised $15 million in Series A funding to build the next generational accounting software.

The round was led by Hemant Taneja from General Catalyst, with participation from more than 100 industry angels, including CFOs at venture-backed startups. 

Puzzle is building an accounting package aimed at taking advantage of the data streaming from these tools, the company is making its public debut while announcing its series A.

Sasha Orloff, CEO and co-founder of Puzzle, calls his company “the first smart accounting software,” which combines a streaming financial data platform that’s connected to a general accounting ledger.

By combining these two things, we can create a whole new set of capabilities for an organization across fundraising, taxes, and understanding the complete picture of financial health [at a startup], Orloff told TechCrunch.

The company launched at the end of 2019 and has been working with more than 500 startups over the years to build and refine the new software.

Today the company is emerging from beta with a service that is generally available to any interested customer. Puzzle currently has 30 employees and plans to hire with the money. 

Company: Puzzle Financial Inc.

Raised: $15.0M

Round: Series A

Funding Month: February 2023

Lead Investors: General Catalyst

Additional Investors:

Company Website: https://puzzle.io/

Software Category: Accounting Software

About the Company: Founded in 2019, Puzzle is modern accounting software designed to help startup founders and finance teams make accounting and finance their strategic advantage. It combined smart accounting software and a real-time financial data platform in a single solution. The company's platform provides financial data in real-time and smarter infrastructure, along with providing advisory from venture capitalists, entrepreneurs, and other higher executives, enabling startups to enhance and upscale their financial performance. Puzzle works out of the box with a modern financial stack, creating a scalable foundation for fundraising, taxes, and overall business health—all in one place, in real-time, and in-depth. 

Source: https://techcrunch.com/2023/02/16/puzzle-is-building-a-modern-accounting-package-for-todays-api-enabled-startups/

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