Total amount raised
$67 Millions
Latest funding date
07/01/2022
Location
Title
Tesorio has successfully raised significant funding over multiple rounds, establishing itself as a key player in the financial operations sector. The platform offers a suite of solutions designed to automate and optimize financial processes, leveraging AI for real-time insights and forecasting.
Keep reading to explore the intricacies of Tesorio's fundraising journey and the investors backing this innovative platform.
What Is Tesorio?
Tesorio, founded in 2015, is headquartered in Burlingame, California. The company was established by Carlos Vega and Fabio Fleitas.
Specializing in connected financial operations, Tesorio's platform automates accounts receivable and collections, providing real-time cash flow insights. This integration enhances visibility and control over financial data.
With a team of around 50 employees, Tesorio continues to innovate in the financial technology sector, leveraging AI to optimize financial processes for businesses.
How Much Funding Has Tesorio Raised?
- Series B Funding Round
- Amount Raised: $17 million
- Date: July 2022
- Lead Investors: BAMCAP Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The company aimed to accelerate growth and expand operations.
Tesorio has raised a total of $17 million in funding. The current valuation is not publicly disclosed.
Key Investors
- BAMCAP Ventures
- Details: BAMCAP Ventures is a venture capital firm that led Tesorio's Series B funding round. Jim Sheward from BAMCAP joined Tesorio's board following the investment.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Not publicly disclosed
- Madrona Venture Group
- Details: Madrona Venture Group is a Seattle-based venture capital firm that invests in early-stage technology companies. They have a strong focus on the Pacific Northwest region.
- Investment Focus Areas: Cloud computing, machine learning, SaaS
- Notable Investments: Amazon, Smartsheet, Snowflake
- First Round Capital
- Details: First Round Capital is a seed-stage venture capital firm known for its early investments in technology startups. They provide extensive support to their portfolio companies.
- Investment Focus Areas: Technology, consumer internet, healthcare
- Notable Investments: Uber, Square, Warby Parker
- Floodgate
- Details: Floodgate is an early-stage venture capital firm based in Silicon Valley. They focus on transformative technology companies.
- Investment Focus Areas: Technology, SaaS, consumer internet
- Notable Investments: Twitter, Lyft, Okta
- FundersClub
- Details: FundersClub is an online venture capital platform that connects accredited investors with high-potential startups. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, fintech, healthcare
- Notable Investments: Coinbase, Instacart, GitLab
What's Next for Tesorio?
With the recent $17 million Series B funding, Tesorio is poised to capitalize on the growing demand for automated financial processes. The introduction of new products like A/R Forecast and Cash Application positions the company to enhance customer experience and expand its market reach. Managing over $23 billion in invoices annually, the potential for growth is substantial.
Future fundraising opportunities seem promising, given the involvement of high-profile investors and the strategic addition of new board members. However, Tesorio will need to navigate challenges such as competition from other financial automation platforms and maintaining the accuracy of its predictive analytics. Scaling operations while ensuring high-quality customer service will be crucial for sustained success.
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