Uplinq, a Scottsdale, AZ-based tech-powered company that provides advanced bookkeeping solutions through data automation and machine learning, announced it has raised $5.6 million in seed funding.
The round was led by AZ-VC, with strategic investment from Live Oak Ventures. Additional investors include Merus Capital and members of the Kuwaiti Royal Family.
The funding amount will scale Uplinq's marketing efficiency, sales power, engineering capabilities, and customer delivery departments to support the demand for its next-level solution in the vastly underserved bookkeeping fintech market.
"SMBs start a business because they have an interest, expertise, or opportunity in a certain area or industry—not bookkeeping. They are often forced to choose from poor options such as outsourcing to firms with inconsistent service, hiring an internal finance manager, or doing it themselves," said Uplinq CEO, Alex Glenn. "That's where Uplinq comes in. We offer businesses a better way to get professional help through our proprietary technology, which not only makes bookkeeping worry-free for the business owner but also provides them with powerful data automation and machine learning to better understand their finances and how their business can improve."
This current funding is in addition to a previously unannounced round of $1.6 million from additional seed investors.
Company: Uplinq Corporation
Raised: $5.6M
Round: Seed Round
Funding Month: December 2022
Lead Investors: AZ-VC
Additional Investors: Live Oak Ventures and Merus Capital
Company Website: https://www.uplinq.com/
Software Category: Automated Bookkeeping Tax solutions
About the Company: Uplinq provides automated bookkeeping tax solutions, as well as actionable financial intelligence. It is focused on providing a better solution: global connectivity, simple onboarding, weekly financial updates, and a constant focus on providing businesses with value - not additional friction. Uplinq seamlessly integrates with over 10,000 financial institutions and many of the resources businesses already use including QuickBooks, ADP, BambooHR, and most payroll, accounting, point-of-sale, and HR vendors.
Source: https://www.prnewswire.com/news-releases/uplinq-secures-5-6-million-in-seed-funding-to-revolutionize-automated-bookkeeping-and-financial-intelligence-for-smbs-301697992.html