Anduin Secures $14MM in Seed Funding from Revolution Ventures to Rework Exercise Management for Accounting Corporations
Firm will expand its award-winning AI-driven Intelligence-Primarily based Billing™ system to introduce a new Predictive Insights option and a new suite of Observe Administration alternatives
CHARLOTTE, N.C., July 22, 2021 (Globe NEWSWIRE) — Anduin, an AI enterprise assisting accounting corporations and other qualified companies companies modernize their invoicing and billing, currently announces a $14MM Seed Round led by Revolution Ventures. With this new funding, the corporation will extend its award-winning Intelligence-Based mostly BillingTM platform to introduce a new Predictive Insights remedy and a new suite of Exercise Administration options. Relevance Ventures and Merian Ventures also participated in the round.
Expert solutions corporations face a lengthy-standing, elementary follow management challenge: outdated, disconnected techniques often drive large-price, accredited pros to shell out time manually executing day-to-day back-office tasks which can direct to suboptimal productiveness, shed or delayed revenues, and annoyed clients. Anduin solves this problem with focused alternatives crafted on its Intelligence-Centered Billing system.
In December 2020, Anduin introduced the accounting profession’s very first finish-to-close accounts receivable (AR) options constructed on its Intelligence-Based Billing platform. Voted “Top New Product” by Accounting Nowadays, Anduin’s Payments, Collections, and Invoicing remedies streamline the function-to-cash cycle and deliver sizeable ROI for major companies (ex: Windham Brannon and BGW CPA).
With abilities and a proven monitor document resolving AR problems, Anduin’s forthcoming options will handle troubles in other parts of follow management. Anduin Predictive Insights will unify firms’ disparate programs and info to provide firm leaders with unparalleled, serious-time visibility into business-wide overall performance. Anduin Apply Administration will constitute the accounting profession’s to start with cloud-based mostly, cellular-enabled, open-architected, AI-run, and modular suite of follow management answers. These remedies are becoming designed on Anduin’s Intelligence-Centered Billing system as part of an ongoing, collaborative partnership with executives, technology leaders, and directors at top CPA firms, and will be introduced in phases starting in 2022.
“When we started out Anduin previous calendar year we invited accounting organization leaders to inform us their most important challenges so we could purpose-develop answers to resolve them. The solution was clear—firms needed to velocity up revenues, preserve lover time in the billing process, and further more reinforce their monetary footing. We built the Intelligence-Based mostly Billing platform and our AR remedies in reaction, and the reception and ROI have been remarkable. As accounting corporations return to the office environment, all those identical organization leaders tell us they want similar long term-ahead remedies for all of their inner operations. With this subsequent spherical of funding, we’ll partner with CPA companies and other field tech leaders to introduce a new wave of AI-primarily based follow administration solutions and predictive perception equipment,” suggests Anduin main government officer Justin Adams.
“For also prolonged, accounting companies have been beholden to practice administration systems applying previous generations of technologies. Executives, associates, and directors want frictionless workflows with modern-day styles. They want to simply accessibility their practice administration knowledge and integrate with third-party equipment. They want dynamic reports with authentic-time insights. We are thrilled to be partnering with modern CPA companies and applying our patent-pending AI systems to liberate and empower their persons, generate income progress, and delight consumers,” claims Anduin chief item officer Ellen Choi.
“Professional service sectors, this kind of as accounting, will need a contemporary payments architecture. With its AI-driven system, Anduin is optimizing invoicing and collections. The organization is empowering accounting corporations to split absent from clunky legacy systems, homegrown alternatives, and guide and offline efforts. Early adopters have described a extraordinary maximize in on line payments and a significant decrease in lover time expended on the regular monthly chore of billing,” states Revolution Ventures controlling spouse Tige Savage. Savage will be part of the company’s board and Graham Ober, vice president at Revolution Ventures, will join as a board observer.
Up coming week, Anduin is sponsoring the American Institute of Accredited Public Accountants (AICPA) Interact meeting in Las Vegas from June 26-29, 2021. Cofounders and workforce users will be onsite at booth #534 to showcase solutions developed on the Intelligence-Primarily based Billing platform—the workforce will demo Anduin’s now-available AR options, and will share a first glimpse of the forthcoming Predictive Insights and Practice Management remedies. Much more facts is readily available on the Anduin web page.
About Anduin
Anduin assists accounting companies streamline their billing system, velocity up their funds move and delight their clientele. Our Intelligence-Centered Billing™ platform automates, shortens and enhances time-consuming processes like bill prep, collections and payments, and liberates higher-value partners and employees to deliver far more to purchasers and operate at the maximum conclusion of their license. Rewards to accounting companies: associates can save time, invoice speedier, and get rid of administrative head aches finance leaders can cut down days-in-AR, pace up client payments, and easy out funds circulation executives can improved defend money well being with predictive insights and controls, and they can boost their organization popularity by supplying clientele a speedy and quick billing knowledge.
About Revolution Ventures
Revolution Ventures is Revolution’s institutionally-backed early stage fund investing in corporations around the nation that are attacking substantial, multi-billion greenback categories. Co-founder Steve Case and Expenditure Partners Tige Savage, David Golden, and Clara Sieg do the job with companies that meet their disciplined conditions and kind true partnerships with founders to support them establish current market-foremost organizations. Revolution Ventures is headquartered in Washington, D.C. and part of Revolution’s relatives of cash which includes Revolution Expansion and the Rise of the Rest Seed Cash. Stop by us on the internet at revolution.com/ventures or @Revolution.
Media Call
Vicki LaBrosse
Edge Marketing, Inc. for Anduin
[email protected]
651.552.7753