New Funding Led by StepStone Group Joins Current Investors to Accelerate Growth of Accounting Automation Platform
new york, April 19, 2023 /PRNewswire/ — Trullion, a leading provider of enterprise accounting software, today announced $30 million In raising capital to accelerate growth and expand product offerings.Financing includes $15 million from the initial Series A round led by Third Point Ventures, and additional $15 millionLed by Stepstone Group, with full participation from existing investors Aleph, Third Point Ventures and Greycroft.
Trullion plans to use the new funding to accelerate the growth of its artificial intelligence (AI)-based applications and develop two new modules to support audit and revenue recognition. The company’s AI-powered accounting platform connects enterprise controllers, CFOs, and external auditors to her one platform, providing financial leaders with a single source of truth.
StepStone Group partner John Avirett said: The financial industry needs powerful, cost-effective technology that can automate critical processes and minimize risk. Businesses also recognize that AI and accounting automation are essential to keep up with financial standards. ”
Trullion CEO said: Isaac Heller“We have had a strong balance sheet since our Series A, but given our 2022 results and multi-year growth outlook, we are stepping up our investments in our products while also becoming a top global investment partner at StepStone. I saw an opportunity to acquire
Trullion leverages artificial intelligence and machine learning to automate accounting and compliance workflows including lease accounting, revenue recognition, and audit automation tools.Procured by the company $34 million From its launch in 2020 to now.
About Trulion
Trullion is an AI-powered accounting platform that automates financial workflows for CFOs, accountants, and auditors to increase efficiency, prevent costly oversights, and foster collaboration. Founded in 2019, Trullion is headquartered in New York, NY with offices in Tel Aviv and is backed by Aleph, Third Point Ventures, Greycroft, StepStone Group, and a leading global CFO. For more information about Trullion, please visit www.trullion.com. www.trullion.com.
contact: Dee Dee Ludenstein, [email protected]
SOURCE Trullion
