USA – Digits, a San Francisco, CA-based real-time finance and accounting platform for small businesses, closed its $65m Series C funding.
The round, which brings total funding to $97.5m and values the company at $565m as it launches its first major product, was led by SoftBank with participation from Harry Stebbings’ 20VC Growth, as well as GV and Benchmark.Digits Reports, the company’s first major product, reinvents financial reporting . “For the past 20 years, ‘closing the books’ has meant a monthly email from your accountant or finance team, usually with an attached PDF or Excel model,” said Led by Wayne Chang and Jeff Seibert, Digits has launched its first product, Digits Reports, a financial reporting tool for small and medium businesses featuring built-in analysis and visualizations. With new features including “hover to discover,” Digits Reports empower business owners and their finance teams with instant access to underlying transaction data and multi-dimensional aggregations to understand drivers and changes. Digits Reports are fully encrypted, and support built-in commenting, collaboration, and secure sharing, including the ability to monitor and revoke unwanted access. Alongside Digits Reports, the company is announcing Digits Report Builder, which allows accountants to create customized report packages for their clients. With analysis at their fingertips, in the form of insights, graphs, and interactive charts, accountants and finance professionals can assemble and share immersive financial reports that highlight critical findings for their clients and stakeholders. Digits sits on top of existing accounting software, such as QuickBooks, and is easily to activate across an accounting firm’s entire client portfolio, with no data transfer or configuration required.In 2021, the company had launched its first business finance tool, Digits Search, which organizes a company’s financial data in real-time, making it searchable, visualizing intuitively, and instantly accessible.25/03/2022
