Sequence, a London and New York-based startup, has raised $20m in funding to build its revenue platform for finance teams as the CFO tech stack vertical continues to gain traction among investors.
The funding round was led by 645 Ventures and featured participation from Andreessen Horowitz, Firstminute Capital, Passion Capital, Dig Ventures and Vor Capital.
The startup was founded by CEO Riya Grover, Eamon Jubbawy and Enda Cahill in 2022. Prior to Sequence, Grover was the founder of foodtech Feedr, Jubbawy was the chief operating officer and cofounder of Onfido while Cahill was part of the founding team of Berlin-based Choco.
Sequence provides a platform for finance teams, which provides a myriad of features such as billing automation, contract processing and invoice issuing.
The company has over 100 customers including company’s clients include legal tech Legora, crypto payments company Moonpay and Incident.io, a London-based incident management platform.
“I started Sequence after a decade watching finance teams face an impossible choice: drown in manual billing work or rely on systems that break when sales teams close custom deals,” Grover says.
It’s the latest fundraise allocated to the CFO tech stack vertical, one of the main beneficiaries of the investor focus on B2B in recent years.
According to Sifted data, €1.3bn has gone to the vertical so far this year, up from €943m raised by CFO tech stack startups this year. Along with Sequence, some of the subsector’s largest funding rounds include London-based Xelix’s €137m in July and Vertice’s $50m in January.
The funding will be used to accelerate investment into its AI agents and expand the engineering and go to market teams.
