With a focus on accounting infrastructure for Vertical SaaS companies, Teal, a NYC-based firm, has secured $8 million in seed money.
Investors
- Torch Capital
- Service Titan
- Plaid
- Brex
- Unit
- Gusto
- Basis Set Ventures
- General Advance
- Dash Fund
Use of funds
The business plans to use the money to increase both its development and operational activities.
About Teal
Teal, founded by industry veterans Ian Crosby and Adam Saint, enables Vertical SaaS companies to create their accounting systems with native data interfaces with Plaid and fully functional app code repositories in as little as four weeks. Businesses may use it to provide their small company clients with data such as tracking past-due bills, extensive profitability analysis, and real-time cash flow. Teal also provides bookkeeping, tax preparation, and CFO help, enabling Vertical SaaS firms to provide really hands-off accounting while significantly increasing their ACV and retention.
