Founded in 2023 by former Bench Accounting CEO and ex-Shopify executive Ian Crosby alongside Adam Saint, Teal builds the back-end accounting layer for Vertical SaaS and SMB platforms. Its APIs, pre-built app code repositories and native integrations (e.g., Plaid) enable partners to spin up white-label accounting modules—including bookkeeping, tax filing and CFO support—in as little as four weeks. End-customer SMBs can access real-time cash-flow analysis, per-product profitability, overdue invoice tracking and other insights directly inside their core software stack. By embedding accounting, Teal’s clients hope to boost engagement with adjacent financial services such as payments, invoicing and banking. The company positions itself as the “Stripe for accounting,” filling what it sees as the most requested yet missing embedded-finance feature. Although no revenue or user metrics were disclosed, management cites “rapid growth and early success” as evidence of product-market fit. The recent seed financing will be used to accelerate product development and market adoption of its next-gen accounting suite.

Total raised

$8M

Funding rounds

1

Latest round

Seed

Latest activity

May 2024