Open Ledger raised $3M in a funding round led by Kindred Ventures and Blank Ventures to develop automated accounting software for enterprises and small businesses.

Jan 14, 2025•7 months ago

Amount Raised

$3 Million

Round Type

seed

San FranciscoAccountingFintechSaasArtificial IntelligenceFinancial ServicesSoftware

Investors

Blank VenturesKindred Ventures

Description

Pryce Yebesi, after exiting his previous company Utopia Labs to Coinbase, has launched Open Ledger and secured $3 million in funding. The new venture aims to provide AI-driven accounting solutions seamlessly integrated into existing products used by businesses.

Company Information

Company

Open Ledger

Location

San Francisco, California, United States

About

Open Ledger is a new company founded by Pryce Yebesi that integrates automated accounting software into existing enterprise and small business products. The company aims to provide an AI-driven, modular accounting tool that enhances efficiency in financial tasks. Open Ledger addresses the need for modernized accounting solutions by offering embeddable components, APIs, and a ledger database for better financial reporting. It builds on Yebesi's previous experience with Utopia Labs, focusing on improving the data layer of financial transactions.

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Funding Insights

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VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers