Dublin-based AccountsIQ, a cloud-based accounting platform, has raised €60 million in a Series C funding round led by Axiom Equity, a B2B SaaS growth equity fund. This significant investment aims to further develop AccountsIQ’s product, enhancing its capabilities with advanced AI integrations.
Martin Wygas, Founding Partner of Axiom Equity, expressed confidence in the partnership, stating, “We were immediately impressed with the AccountsIQ team and their product. Their deep understanding of the customer base and forward-thinking vision deeply resonated with us. We see great potential in accelerating AccountsIQ’s product development with additional capital and expertise.”
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Revolutionizing Financial Management
Founded in 2004 by Tony Connolly, AccountsIQ offers a Software-as-a-Service (SaaS) financial management system (FMS) designed to transform finance functions. The platform addresses challenges such as multi-currency consolidation, multi-level approvals, third-party integrations, and daily process automation. It enables digital collaboration between finance teams and business stakeholders, providing timely and relevant information to enhance organizational financial intelligence and decision-making capabilities.
Expanding Reach and Capabilities
Serving over 1,000 customers and more than 20,000 users globally, the irish firm supports organizations seeking sophisticated financial management without complexity. The new funds will accelerate AccountsIQ’s growth as a leading international FMS provider, expanding its team to over 200 people and bolstering its AI capabilities to deliver increased value to its global customer base.
CEO’s Insight on Growth
Tony Connolly, Founder and CEO, remarked, “Having reached a critical milestone with over 1,000 customers, we are now poised to elevate our product and service to the next level. This investment comes at a perfect inflection point, allowing us to leverage AI tools into practical, easy-to-adopt services for our users. It will make finance team roles more flexible, valuable, less repetitive, and indeed more interesting.”
With this substantial investment, the company is set to drive significant advancements in its platform, leveraging AI to enhance the efficiency and capabilities of financial management systems worldwide.
