Collective raises $100M, including a $40M Series B, to run finances for solo businesses
Collective, which runs bookkeeping, payroll and taxes for one-person businesses, raised $100M: a $40M Series B and $60M from General Catalyst's Customer Value Fund.
Collective, which handles bookkeeping, payroll, invoicing and taxes for one-person businesses, has raised $100M: a $40M Series B led by General Catalyst, QED Investors and Gradient Ventures, plus $60M from General Catalyst's Customer Value Fund. (The Next Web; Tech Funding News)
The Customer Value Fund money pays for customer acquisition and is repaid out of the revenue those customers bring in; its terms were not disclosed. Intuit Ventures, FT Partners and SemperVirens also took part in the Series B. A valuation was not disclosed. (The Next Web; Tech Funding News)