US-based back-office services provider Pilot has increased a series C round featuring digital payment technology producer Stripe to $100m, valuing it at $1.2bn.
Investment adviser Whale Rock Capital co-led the round’s $40m second tranche with Bezos Expeditions, the personal investment vehicle for Amazon founder Jeff Bezos, participating together with venture capital firms Sequoia Capital and Index Ventures.
The $60m first close was led by Sequoia Capital in January this year and backed by Stripe and Index Ventures at a $600m valuation.
Pilot offers small business customers a back-office assistance service that combines its advanced bookkeeping software with its own financial experts, who work with clients to analyse their companies in depth and pinpoint where they can save money.
Waseem Daher, founder and chief executive of Pilot, said: “Since the earliest days of my career, including an internship at Amazon in 2005, I have been inspired by Jeff’s relentless focus on delivering an exceptional customer experience.
“We have brought that same DNA to Pilot’s customer-centric approach: over 80% of our business is driven by customer referrals and organic interest.”
The company has now raised over $158m altogether, having previously received $40m from Stripe and existing investors including Index Ventures in April 2019.
