Trullion secures $15 million Series A for AI-accounting platform
The Israeli startup’s financial automation platform takes unstructured data such as PDFs and translates them into real-time financial images, including Lease Accounting and Revenue Recognition
Israeli startup Trullion, which is developing a financial automation platform, announced on Wednesday that it has closed $15 million in Series A funding, co-led by Aleph and Third Point Ventures, with participation from existing investors Greycroft, and seasoned financial executives including Bob Mylod, Artie Minson, Jody Padar, and Guzel Lumpkin.
Trullion’s AI-powered platform extracts data from source documents, and automates workflows for accounting teams to collaborate in real-time with their auditors. Trullion, which has a presence in New York and Tel Aviv, will use the funds to hire across a variety of engineering, sales and marketing roles, as well as accelerate product development. Trullion works with major Big Four and regional accounting firms, and organizations from pre-IPO to multinational Fortune 500s. Trullion supports both U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), with customers across five continents.
Trullion team. Photo: Ofer Hajayov
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“Accounting errors due to incorrect data entry, omissions, and compliance oversights can cost organizations millions of dollars and harm their brand reputations, yet it’s still all too commonplace for manual, laborious practices to pervade,” said Isaac Heller, co-founder and CEO of Trullion. “This funding is a key milestone for Trullion as we continue to set the standards for the accounting and finance industry.”