Truewind, an accounting AI platform, recently announced that it has raised $13 million in Series A funding from Thomson Reuters Ventures, Rho Capital and Pathlight Ventures. This brings the firm’s total investor-led funding to more than $17 million. Truewind also announced the addition of Habib Kairouz, Joe Dormani, and Charley Ma to Truewind’s board of directors.
Other existing investors include Logan Allin at Fin Capital, Brad Flora at Y Combinator, Alex Ren at Fellows Fund, Dave Anderson at Beat Ventures, Aneel Ranadive at Soma Capital, Tak Miyata at Scrum Ventures, Mikihiro Yasuda at Hike Ventures, and Jun Li at SV Tech Ventures.
Truewind, a secure generative AI platform for accounting professionals, intends to use the funding to expand its accountant community network, scale its multidisciplinary team, and build out its suite of product features. The generative AI platform is used by accounting firms, in-house corporate accounting teams, and by professional service providers across the country.
Over the past year, the company reports that revenue has grown fourfold while working with top public accounting firms, including EisnerAmper and Frank Rimerman. Truewind states that its holistic solution absorbs 47% of the month-end close tasks and accelerates the close
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