How Much Did Tesorio Raise? Funding & Key Investors

Tesorio has successfully raised funds through multiple rounds, with the latest being a Series B round closed on July 5, 2022. The company has attracted 21 investors, including notable names like Madrona and Susan Wojcicki.

Keep reading to explore the intricacies of Tesorio's fundraising journey and the investors backing this innovative platform.

What Is Tesorio?

Tesorio, founded in 2013 by Carlos Vega and Fabio Fleitas, is based in San Francisco, California. The company offers a connected finance operations platform that leverages AI to manage collections, cash application, and cash flow forecasting.

With a team of 11-50 employees, Tesorio integrates real-time primary source data to deliver actionable insights and automate financial workflows. This platform is designed to help finance leaders optimize their operations and improve cash flow management.

By providing tools that aggregate, structure, and analyze data, Tesorio aims to transform the way companies handle their financial processes, making them more efficient and predictive.

How Much Funding Has Tesorio Raised?

1. Seed Round
   • Amount Raised: $6.9M
   • Date: August 27, 2018
   • Lead Investors: Xplorer Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop and enhance the initial platform capabilities.
2. Series A
   • Amount Raised: $10M
   • Date: August 27, 2019
   • Lead Investors: Madrona
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and expand market reach.
3. Series B
   • Amount Raised: $17M
   • Date: July 5, 2022
   • Lead Investors: BAMCAP Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand go-to-market efforts and launch new products.

Total Amount Raised: $33.9M. Current Valuation: Not publicly disclosed.

Key Investors

• Madrona Venture Group
  • Details: Madrona Venture Group is a venture capital firm based in Seattle, Washington. They focus on early-stage technology companies.
  • Investment Focus Areas: Technology, cloud computing, machine learning.
  • Notable Investments: Amazon, Smartsheet, Redfin.
• Susan Wojcicki
  • Details: Susan Wojcicki is the CEO of YouTube and a prominent individual investor. She has a background in technology and media.
  • Investment Focus Areas: Technology, media, innovative startups.
  • Notable Investments: Not publicly disclosed.
• BAMCAP Ventures
  • Details: BAMCAP Ventures is a venture capital group formed by accomplished entrepreneurs and corporate leaders. They have been investing with excellent results for a decade.
  • Investment Focus Areas: Technology, healthcare, innovative startups.
  • Notable Investments: HighLevel, Homie, Minoan.
• First Round Capital
  • Details: First Round Capital is a seed-stage venture capital firm. They are known for their hands-on approach with startups.
  • Investment Focus Areas: Technology, consumer products, enterprise software.
  • Notable Investments: Uber, Square, Warby Parker.
• Floodgate
  • Details: Floodgate is an early-stage venture capital firm. They focus on transformative technology companies.
  • Investment Focus Areas: Technology, consumer internet, enterprise software.
  • Notable Investments: Twitter, Lyft, Okta.

What's Next for Tesorio?

With the recent $17 million Series B funding, Tesorio is poised to expand its go-to-market efforts and introduce new products like A/R Forecast and Cash Application. Managing over $23 billion in invoices annually, the company aims to become the leading cash flow performance platform for mid-market accounting teams. The addition of new leadership, including Mark Bartlett as Chief Sales Officer and George Coughlin as VP of Marketing, is expected to drive these initiatives forward.

However, the economic landscape presents challenges. Rising inflation and interest rates could impact future funding opportunities, and increased investor caution may compress valuations. Additionally, Tesorio must navigate competition and ensure seamless integration of new leadership to maintain its growth trajectory. Despite these hurdles, the company's strong growth and strategic direction suggest potential for future fundraising and possibly strategic acquisitions to enhance its market position.

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