The Venture Codex

Participated · Equity · Nov 2023

Puzzle provides an AI-powered accounting solution that combines smart accounting software with a real-time financial data platform in a single product. The platform integrates with modern fintech tools including Stripe, Gusto, Rippling, Mercury, Brex, Ramp, and Pulley. Puzzle is designed to help startup founders and finance teams make accounting and finance a strategic advantage. The company said it will use the new funds to advance its vision of automating and modernizing financial processes. In November 2023 Puzzle raised $30.0M, bringing its total capital raised to $50.0M. Puzzle was founded in 2019 and is based in San Francisco, California. Puzzle combines a streaming financial data platform with a general accounting ledger to give startups up-to-date visibility across payments, payroll, and other fintech tools. It connects in real time to tools like Stripe, Brex, and Gusto to continuously update the ledger instead of compiling monthly snapshots. The company emerged from beta and is now generally available after working with more than 500 startups to refine the product. Puzzle launched at the end of 2019 and currently has 30 employees, with plans to hire using the new funding. Founder and CEO Sasha Orloff says the goal is ultimately to replace traditional ERP systems with an API-enabled data platform that integrates best-of-breed solutions. Financially, Puzzle has raised $20 million to date, including a $5 million seed and the recently announced Series A.