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Botkeeper Raises $42M from Paychex Founder

Botkeeper, which provides bookkeeping software utilizing artificial intelligence, has raised $42 million in Series C funding. The round was led by Grand Oaks Capital, which was founded by Tom Golisano, founder and chairman of Paychex.

Golisano will take a seat on Botkeeper’s six-member board of directors. The company says it will use the proceeds to expand its platform, customer success teams, and strategic partnership initiatives. 

Botkeeper says it has utilized machine learning to automate repetitive and predictable tasks such transaction categorization and reconciliations.

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