US-based provider of automated bookkeeping software Botkeeper has reeled in $18m in a series A round co-led by Gradient Ventures, the artificial intelligence investment arm of internet technology provider Google.
Gradient Ventures co-led the funding round together with private equity firm Greycroft.
Botkeeper provides virtual bookkeepers which automate a company’s accounting tasks by using artificial intelligence and machine learning to record transactions and financial information.
The company will use the capital to improve its software, recruit additional talent and expand its marketing budget. The money will also fund the launch of software that offers tools such as paying bills or managing payroll.
Botkeeper’s series A round has taken its total funding to more than $22m. The company raised $4.5m seed funding led by venture capital firm Ignition Partners, with participation from several angel investors, in January this year.