Bookkeep has raised $6.6 million in a recent funding round. The company operates as a revenue and financial automation platform primarily serving Shopify merchants. Its core offering involves summarizing, posting, and reconciling daily sales, refunds, fees, and payouts from various e-commerce, retail, and B2B sales channels directly into popular accounting platforms such as QuickBooks, Xero, Zoho Books, Sage Intacct, and NetSuite.
Built for unified commerce, Bookkeep supports thousands of Shopify brands that sell online, in-store, and across multiple channels, locations, and franchises. The platform's accounting automation software aims to transform complex manual processes, which are often prone to human error, by delivering accurate, daily accrual-based revenue data. This automation is designed to save businesses and their financial teams a significant amount of time, potentially up to 20 hours per month.
Beyond core reconciliation, Bookkeep also offers a streamlined sales tax compliance service that calculates, files, and pays sales tax across all 50 U.S. states. Additionally, its payout splitting engine facilitates the breakdown and distribution of deposits by location or franchisee bank, while capturing applicable franchisee fees for franchisors. The newly secured capital is intended to support Bookkeep's ongoing growth initiatives, including expanding its platform capabilities and extending its market reach within the e-commerce sector.
This investment underscores the demand for automated financial solutions in the rapidly evolving e-commerce landscape. Bookkeep plans to leverage these funds to further enhance its offerings, ensuring continued financial clarity and operational efficiency for its growing base of Shopify merchants and their financial teams.
