Materia raised $6.3M in funding led by Spark Capital with participation from Haystack Ventures, Thomson Reuters Ventures, Exponential Founders Capital, and the Allen Institute for AI to expand operations and development efforts.
Jun 20, 2024•over 1 year ago
Amount Raised
$6.3 Million
New YorkInformation TechnologyInvestors
Allen Institute For AiExponential Founders CapitalThomson Reuters VenturesHaystack VenturesSpark Capital
Description
Materia, a NYC-based comprehensive generative AI platform for public accounting firms, raised $6.3M in a funding round led by Spark Capital. Other participants include Haystack Ventures, Thomson Reuters Ventures, Exponential Founders Capital, and the Allen Institute for AI. The company intends to use the funds to expand operations and its development efforts.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers