We’re thrilled to share that Layer has raised a $6.6M seed round led by Emergence Capital, with participation from our existing investors Better Tomorrow Ventures (BTV).
Over the last decade, a vibrant ecosystem of SMB software tools has emerged to help SMBs manage and run their businesses. These tools help SMBs with everything from payments to payroll, but accounting has lagged behind. Small business owners are still struggling with disconnected, generic, accounting software, and expensive bookkeepers.
We started Layer to solve this and allow SMB platforms to offer dramatically better accounting software and bookkeeping that’s seamlessly embedded within the tools SMBs use every day.
Over the past year, we’ve made huge strides towards this goal. We’re working with leading SMB software platforms like Moxie, Nav, Dripos, Duet, & Carry who have collectively onboarded over 30,000 SMBs to our platform. Our partners serve industries across the economy from coffee shops, to healthcare practices, to pet groomers, and new platform partners are launching every month.
In addition to the most robust embedded accounting software in the market, we’ve built the only embedded bookkeeping service that does SMBs’ books for them end to end. Through our platform, partners like Moxie, Duet, & Carry offer complete bookkeeping to their SMBs that’s three times faster and 40% more accurate than traditional bookkeepers.
This new capital brings our total raised to nearly $9M. We’re excited to use this funding to expand our core accounting software, and scale our AI-powered bookkeeping to an even broader set of partners and industry use cases.
If being at the forefront of the biggest shift in SMB accounting in decades is exciting to you, we’re hiring across a variety of engineering and GTM roles. Come join us!
And if you’re an SMB platform looking to solve your customers’ accounting & bookkeeping challenges, get in touch. We’d love to chat about how Layer can help.
To our customers, partners, investors, and our team: thank you for your trust and for building alongside us. We’re just getting started.
- Justin & Dan