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Subscript, a startup providing AI-driven revenue management tools, has raised $15 million in Series A funding, CEO Sidharth Kakkar tells Axios exclusively.

Why it matters: The company automates typically manual tasks for finance teams.

How it works: Subscript's platform integrates with CRM, ERP and payment processors that customers use to keep track of contracts and sales, and it ingests data into its platform to automate revenue recognition.

Using that same information, it can create billing schedules, send invoices, and email customers when an invoice is overdue.

Zoom in: Pelion led the round, which included participation from First Round Capital, Kapor Capital, Forum Ventures and Fresco Capital.

Subscript has raised $21 million in total since being founded in 2021.

Context: Before Subscript, Kakkar founded the edtech startup Freckle Education, which grew to $40 million in revenue but suffered from many billing and revenue recognition issues he's now trying to solve.

"I didn't have a CFO, because I have a finance background, so I decided to do it all myself. And so many things about the CFO's revenue stack were broken," Kakkar says.

The company sold software to schools, which relied on manual processes and paper checks to make payments. That resulted in Kakkar having to chase down "thousands of checks and thousands of invoices."

Behind the scenes: Advances in AI have enabled companies like Subscript to offer alternatives to manual processes that finance teams currently use.

"The CFO cares about efficiency, and the CFO cares about automation. They want to get more leverage from fewer people," Kakkar says.

State of play: Several accounting automation startups have booked funding over the past year.

Wiselayer, which is building AI agents for finance and accounting teams, raised $7.2 million in January.

Tabs, a revenue automation platform for B2B companies, raised $25 million last October.

And Rillet, which built a next-gen ERP to automate accounting, raised $13.5 million in July.

Exclusive: Revenue management startup Subscript raises $15M

Subscript uses AI to automate typically manual tasks for finance teams.

Illustration of a calculator that reads help

Subscript, a startup providing AI-driven revenue management tools, has raised $15 million in Series A funding, CEO Sidharth Kakkar tells Axios exclusively.Why it matters: The company automates typically manual tasks for finance teams.

Exclusive: Revenue management startup Subscript raises $15M

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