News (1806)
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Vic.ai Snares $50 Million in Funding
Vic.ai, which markets an AI-based payments platform, has received $50 million in Series B. Funding. The latested round for the company, launched in 2015, brings the total funding raised to $63 million.
Baker Tilly Buying Intacct Reseller
Baker Tilly US is buying Houston, Texas-based VAR AcctTwo Shared Services, effective October 1. Terms were not announced.
Firms Win Microsoft Honors
Three accounting firms have been selected for the Microsoft Inner Circle this year. Meanwhile, a fourth has received the software company’s Eagle Award for 2021/22.
QBO Revs Rise 25 Percent in 2021
Intuit reported another booming year for QuickBooks Online, whose sales grow to just under $1.7 billion for the year ended July 30. That is an increase of 25.4 percent from $1.35 billion in fiscal 2020.
Bill.com Eyes Small Biz Expansion
Bill.com plans to expand its service to the “smallest of businesses,” CEO Rene Lacerte said this week. Lacerte made the comments during the week’s webcast of earnings for the fourth quarter ended June 30.
Sage Starts New Accountant Program
Sage has started a new accountant program. The 20 for 20 program, which does not replace the existing Sage or Intacct offerings for firms, is designed for firms that have some business sophistication, according to A.Z. Zabala, senior director of sales and strategy, who leads a program that is in addition to the historical Sage Accountant Program and Sage Intacct Accountant Program.
TeamMate+ Agile Audit Introduced
Wolters Kluwer Tax & Accounting has debuted TeamMate+ Agile Audit. The recently introduced product utilize principles of agile software development in audit workflow.
Gusto Takes in $175 Million
Gusto has received $175 million in Series E funding. The payroll software company described the use of proceeds as helping it “accelerate our impact for the customers we serve." The latest round was led by T. Rowe Price Associates.
WK Half Up 5 Percent Organically
Wolters Kluwer reported revenue for the first half ended June 30, rose by 6 percent in constant currency and 5 percent organically, year-over-year. The total was roughly $2.68 billion for the most recently ended period, down one percent as currency took a bit out of results.
New Dashboard for CCH Axcess Data Axcess
A new Accounts Receivable & Collections Dashboard has been added to CCH Axcess Data Axcess. Wolters Kluwer Tax & Accounting said this week the dashboard enables firms to receive AR data from CCH Axcess Practice.
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