AccountsIQ takes in $65M to boost bookkeeping with AI

AccountsIQ raises $65M to enhance its AI-driven bookkeeping platform, supporting mid-sized companies with automated, cloud-based accounting services.

: AccountsIQ, an Irish accounting tech company, has secured $65 million to develop AI-powered tools for mid-sized businesses. Specializing in automated, cloud-based services, it aims to streamline accounting processes. Despite a tough market, AccountsIQ's steady growth showcases its relevance and potential.

AccountsIQ, a Dublin-based accounting technology company, has raised $65 million to advance its mission of providing AI-enhanced, cloud-based bookkeeping services. The 20-year-old company, which was mostly bootstrapped, aims to build the finance function of the future to help mid-sized companies work smarter and faster.

The services offered by AccountsIQ include accounts receivable and payable, digital tax, reporting, and integrations with third-party services. Utilizing Microsoft's AI tools and its own in-house customizations, AccountsIQ plans to introduce more robotic process automation to simplify and accelerate user workflows.

This significant funding round is notable due to the broader struggles of startups in securing investments, especially in Ireland. Nonetheless, AccountsIQ has demonstrated steady growth with a consistent 30% CAGR, attracting attention for its ability to help businesses increase efficiency as they scale.