Total amount raised
$58.5 Millions
Latest funding date
2/1/2023
Location
Finch has successfully raised funds through multiple rounds, with notable investors like Intuit and Menlo Ventures backing the company. The platform offers a unified API for integrating with over 200 HRIS, payroll, and benefits systems.
Keep reading to explore the intricacies of Finch's fundraising journey and the investors supporting this innovative platform.
What Is Finch?
Founded in 2020, Finch is headquartered in San Francisco, California. The company was established by Ansel Parikh and Jeremy Zhang.
Finch provides a unified API that integrates with over 200 HRIS, payroll, and benefits systems. This allows seamless access to organization, payroll, and benefits data.
With a team of 101-250 employees, Finch aims to streamline employment data integration across various platforms, enhancing efficiency and data accessibility.
How Much Funding Has Finch Raised?
- Seed Round
- Amount Raised: $125,000
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Finch's unified API platform.
- Seed Round
- Amount Raised: $3,500,000
- Date: December 2020
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $15,000,000
- Date: June 2022
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance API capabilities.
- Series B
- Amount Raised: $40,000,000
- Date: February 2023
- Lead Investors: General Catalyst, Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and integrate more employment systems.
- Funding Round
- Amount Raised: $3,500,000
- Date: June 2023
- Lead Investors: Intuit
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand operations and business reach.
Finch has raised a total of $62,125,000. The current valuation is not publicly disclosed.
Key Investors
- Intuit
- Details: Intuit is a global technology platform that helps consumers and small businesses manage their finances. Known for products like TurboTax, QuickBooks, and Mint, Intuit has a strong presence in the financial software industry.
- Investment Focus Areas: Financial services, technology, small business solutions.
- Notable Investments: Credit Karma, Mailchimp, TSheets.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They focus on building long-term partnerships with founders and helping them scale their businesses.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Stripe, Snap.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital to early-stage and growth-stage companies. They have a history of investing in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Uber, Roku, Warby Parker.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups since its inception. They provide seed funding, mentorship, and resources to help startups grow.
- Investment Focus Areas: Technology, software, consumer internet.
- Notable Investments: Dropbox, Airbnb, Reddit.
What's Next for Finch?
Finch stands at the cusp of significant growth opportunities, driven by the increasing demand for unified API solutions in the employment sector. With the recent funding led by Intuit Ventures, Finch is poised to expand its operations and enhance its API capabilities, integrating with more payroll, HRIS, and benefits systems. This expansion could potentially open doors to new markets and a broader customer base.
As Finch scales, future fundraising rounds seem likely, providing the capital needed to sustain growth and innovation. However, the company may face challenges such as competition from other API providers and the technical complexities of maintaining integrations with over 200 systems. Ensuring data security and regulatory compliance will also be critical as they navigate this growth trajectory.
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