Employment API Leader Finch Closes $40 Million Series B Round
Finch, the #1 employment API for payroll, HRIS and benefits,announced it has raised a $40 million Series B funding round, just eight months after announcing a $15M Series A in June 2022. Led by existing investors General Catalyst and Menlo Ventures, with participation from QED Investors, Altman Capital, and PruVen Capital, this round brings the total funding Finch has raised to $58.6 million. Alex Tran, Managing Director at General Catalyst, will join the board of directors.
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Finch plans to use the capital to extend coverage to more payroll, HR and benefits systems, expand into new employment data verticals such as benefits administration and new functionality such as automating payroll operations, supporting the company’s vision to make employment connected and programmable. The company will also grow its engineering, product and success teams to support rising demand for the Finch platform.
“We have been supporters of Finch since its formation when we led the seed round, and we’re very excited to double down on our partnership given the team’s outstanding execution,” said Alex Tran, Managing Director at General Catalyst. “As early backers of Stripe and Gusto, we have come to appreciate the importance of fintech infrastructure as well as the evolving nature and use cases around employment data. We’re excited to see Finch innovating at the intersection of two areas we care a lot about.”
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“Since first partnering with Jeremy and Ansel at the seed stage, we have been consistently struck by the team’s vision in creating a new market around making employment systems truly programmable while unlocking countless new use cases built on top of these systems,” said Croom Beatty, Partner at Menlo Ventures. “Jeremy and Ansel are world class founders- their rate of growth as leaders, all while maintaining best in class unit economics, recruiting an incredibly strong executive team, and quickly rolling out game changing product features, has been impressive. We are grateful to have the chance to co-lead this financing, and back them for a third consecutive round!”
“Finch is the #1 API in the employment space, now with more than 200 integrations,” said Jeremy Zhang, CEO at Finch. “After becoming cash flow positive and increasing revenue growth by 12x since our Series A round, we are thrilled to take Finch’s success to the next level with this latest funding. Backed by investors we trust, who are fully aligned with our mission to bring deeper connectivity and broader coverage to the realm of employment data and payroll/benefit operations, we look forward to continuing to accelerate Finch’s momentum as we revolutionize the global employment ecosystem.”
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