Dublin-based AccountsIQ secures €60m investment to embed AI to its platform

Dublin-based AccountsIQ secures €60m investment to embed AI to its platform

Published: 17-06-2024 13:33:00 | By: Pie Kamau | hits: 452 | Tags:
Accounting
Artificial Intelligence
Financial Services
Ireland
June 2024
SaaS
Tech
Venture Capital & Private Equity
AccountsIQ, the cloud-based accounting platform, announced it has secured €60 million Series C investment from Axiom Equity, a specialist B2B SaaS growth equity fund. The investment will be focussed on continuing to develop the AccountsIQ product to shape the finance function of the future, taking advantage of advancement in AI throughout all aspects of the solution.
 
AccountsIQ provides a financial management system (FMS) Software-as-a-Service (SaaS), designed to transform the finance function, solving complex problems like multi-currency consolidation, multi-level approvals, third-party integrations, and automation of daily processes. It empowers finance teams to collaborate digitally with stakeholders in their businesses by giving the right information to the right user at the right time, enhancing the financial IQ of the organisation so it can make better decisions.
 
Tony Connolly, Founder and CEO, AccountsIQ: ''Having hit a critical milestone with over 1,000 customers, we are now poised to take the AccountsIQ product and service to the next level. This investment comes at a perfect inflection point for our offering, to allow us leverage AI tools into practical, easy to adopt services for our user base; to make finance team roles more flexible, valuable, less repetitive and indeed more interesting.''
 
This investment will enable AccountsIQ to move to the next level of its development as a leading international FMS, growing its resources to more than double its team to over 200 people over the next few years and enhancing its AI capability to deliver even more value to its diverse customer base.
 
Martin Wygas, Founding Partner, Axiom Equity: ''We were immediately impressed when we met the AccountsIQ team and saw the product and its positioning. The deep understanding of their customer base and forward-thinking vision deeply resonated with our team. Recognising the potential to accelerate AccountsIQ’s product development with additional capital and expertise, we are excited to be partnering with them to scale AIQ to the next level.''

www.accountsiq.com

 

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