Trullion Raises Additional $15 Million to Expand AI-Powered Accounting Technology Portfolio

 Trullion, a leading provider of corporate accounting software,announced the completion of $30m in financing to accelerate its growth and expand its product offerings. The financing includes $15 million from its initial Series A round led by Third Point Ventures, and an additional $15 million, led by Stepstone Group, with full participation from its existing investors Aleph, Third Point Ventures and Greycroft.

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Trullion plans to use the new funding to accelerate the growth of its artificial intelligence (AI)-based applications, and to develop two new modules supporting audit and revenue recognition. The company’s AI-powered accounting platform connects corporate controllers, CFOs, and external auditors on one platform, providing a single source of truth for financial leaders.

“It’s a great company at a critical time in the accounting world,” StepStone Group Partner John Avirett notes. “We believe this is the right time to get on board. The financial industry needs powerful, cost-effective technology that can automate critical processes and minimize risk. Companies are also discovering that AI and accounting automation is essential to keeping up with financial standards.”

“It is a pivotal moment now for the financial sector and our solution creates transparency at a time when that is needed most,” says Trullion CEO Isaac Heller. “We had a strong balance sheet from our Series A, but given our 2022 performance and multi-year growth prospects, we saw an opportunity to bolster our product investment while bringing on a top global investment partner in Stepstone.”

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Trullion leverages artificial intelligence and machine learning to automate accounting and compliance workflows, such as Lease Accounting, Revenue Recognition and Audit automation tools. The company has raised $34m to date since launching in 2020.

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