MakersHub provides an accounts payable platform that captures AP data comprehensively and enables businesses and accounting partners to use that data for automation, error reduction and insights. The company said it will use the new funds to support customer growth by accelerating investment in platform infrastructure and scaling sales and marketing teams. MakersHub raised $7M in additional Seed funding, bringing total funding to $11.5M. QED Partner Laura Bock and independent advisor Bill Shufelt will join the board of directors. Co-founded in 2021 by Phong Ngo and Charley Howe, the company is based in Austin, TX. Today it has more than 200 paying customers, a network of several thousand payees and has seen more than 10x year-to-date growth rates on nearly every commercial metric it tracks. MakersHub offers an accounts payable platform that extracts and contextualizes every line item on bills and receipts, using its proprietary WiseVision technology combined with language models and localized learning. It automates instant bill capture, rules-driven approval flows, and auto-maps records to QuickBooks to eliminate manual data entry and improve job costing for construction, industrial, and manufacturing companies. Founders Phong Ngo and Charley Howe built the product from experiences in equipment manufacturing and fintech investing and launched with design partners in Q1 2023. They say MakersHub can make accounts payable tasks up to 90% faster and recently added MakersHub Pay, embedding payments directly into the AP flow so payments data precisely maps to accounting records. The company reports roughly 20 customers processing about $10 million in gross merchandise volume through the platform and has raised $4.5 million in venture-backed capital so far. MakersHub plans to scale more aggressively in the coming quarters and is actively hiring go-to-market roles to support growth and let the founders transition out of those responsibilities.

Total raised

$12M

Funding rounds

2

Latest round

Seed

Latest activity

Dec 2024