Ravical Raises $17M to Bring Shared AI to Accounting Firms
Belgian startup Ravical, which develops AI software for accounting and tax firms, has raised $17 million in a seed round led by MMC Ventures, according to The Next Web. Existing backers Lakestar and Pitchdrive also invested, alongside new investor Shapers. Tech.eu reported that the round brings Ravical’s total funding to $25 million. Ravical said more than 100 accounting firms in Europe use its platform. It plans to use the new money to grow in Belgium, Germany, the Netherlands and the UK, expand across Europe and launch in the United States.
The funding will support Ravical’s expansion in its main European markets and planned entry into the US. The company says its platform captures how experienced staff judge and advise on cases, then applies that approach across clients, giving managers visibility into risks and opportunities across the client base. MMC Ventures partner Mina Samaan said Ravical aims to work across a whole firm rather than offer a point solution for one task or workflow.
Belgian startup Ravical, which builds AI software for accounting and tax firms, has raised $17M in a seed round led by MMC Ventures. Existing backers Lakestar and Pitchdrive also invested, along with new investor Shapers.
More than 100 accounting firms in Europe now use the platform, the company said. Ravical plans to use the new money to grow in its main markets of Belgium, Germany, the Netherlands and the UK. It will also expand across Europe and launch in the US.
The idea behind the product is that a firm’s know-how should not depend on a few people. Ravical captures how a firm’s most experienced staff judge and advise on cases.
Its AI then applies that same approach to every client, and managers can see risks and opportunities across the whole client base.
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