Trullion team (Company pic)
Trullion, an Israeli startup that offers an AI-powered accounting platform, raised an additional $15 million, led by Stepstone Group, with full participation from its existing investors Aleph, Third Point Ventures and Greycroft to complete a $30 million round of financing. The company has now raised $34 million to date.
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.
Founded in 2019, Trullion leverages artificial intelligence and machine learning to automate accounting and compliance workflows, such as Lease Accounting, Revenue Recognition and Audit automation tools. Trullion is headquartered in New York, NY with offices in Tel Aviv and backed by Aleph, Third Point Ventures, Greycroft, StepStone Group and leading global CFOs.
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“Compliance shouldn’t be complicated. With Trullion, you can streamline your accounting workflows accurately and efficiently – with minimum manual effort on your part. Get started by automated your lease accounting, revenue recognition, and more.”
“It’s a great company at a critical time in the accounting world,” StepStone Group Partner John Avirett said of Trullion. “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.”
