Funding of $6.6 million secured, spearheaded by Emergence Capital, to integrate accounting functions within the Small-to-Medium Business (SMB) software infrastructure.

Funding of $6.6 million secured, spearheaded by Emergence Capital, to integrate accounting functions within the Small-to-Medium Business (SMB) software infrastructure.

San Francisco-based startup, Layer, has announced a successful $6.6 million seed funding round, led by Emergence Capital, with participation from Better Tomorrow Ventures (BTV). With this investment, Layer aims to expand its operations into various small and medium-sized business (SMB) verticals, providing integrated accounting services directly within existing software platforms [1][2].

The innovative AI-powered bookkeeping platform of Layer streamlines financial management for SMBs, offering a seamless solution that eliminates the need for toggling between systems or relying on costly external services. By combining automation with expert oversight, Layer reduces the cost of bookkeeping by half and closes books three times faster [1][3].

Key aspects of Layer's expansion plans include:

1. **SMB Vertical Expansion**: Layer will venture into new SMB verticals, catering to a broader range of industries with its embedded accounting solutions.

2. **AI-Powered Enhancements**: The company will enhance its AI-driven bookkeeping services to offer faster and more cost-effective solutions for SMBs. This includes automating bookkeeping tasks and providing direct access to AI-supported bookkeepers within existing software platforms [1][2].

SMBs often find the accounting process fragmented, manual, and frustrating due to disconnection from the software tools they use daily. Layer addresses this issue by enabling software platforms like Moxie, Nav, Dripos, Duet, Carry, and Reeva, to embed accounting and bookkeeping directly into their products [1][5].

Layer's embedded solution includes an AI-powered bookkeeping service that categorizes and records all business transactions, delivering fully reconciled financial reports by the end of each month. The platform also offers real-time financial insights within the tools SMBs use to run their business [1][6].

Justin Meretab, one of the founders of Layer, expressed his excitement about the funding and the company's future plans. Over the past year, Layer has quadrupled its SMB platform customer base and now supports over 30,000 SMBs through its customers [1].

As part of its growth strategy, Layer plans to focus on engineering and go-to-market roles, aiming to integrate accounting into the software platforms that SMBs already use for daily operations [1][7].

Platform customers, like Moxie and Nav, have already seen rapid adoption, with more than 25% of their SMB users adopting embedded accounting and bookkeeping [1][8]. Layer is poised to revolutionise the way SMBs manage their finances, offering a streamlined, efficient, and cost-effective solution.

Business owners can access accurate, real-time financials without leaving the tools they use to run their business through Layer. For press inquiries, please contact [email protected].

[1] https://www.layerfi.com/news/layer-raises-6-6-million-to-build-the-embedded-accounting-platform-for-the-modern-smb-stack [2] https://emergencecapital.com/news/emergence-capital-leads-6-6-million-seed-round-for-layer-to-build-the-embedded-accounting-platform-for-the-modern-smb-stack [3] https://www.layerfi.com/features [4] https://www.layerfi.com/blog/layer-raises-6-6-million-to-build-the-embedded-accounting-platform-for-the-modern-smb-stack [5] https://www.layerfi.com/partners [6] https://www.layerfi.com/pricing [7] https://www.layerfi.com/careers [8] https://www.layerfi.com/case-studies

1. Layer's AI-powered bookkeeping platform, integrated into various software platforms, aims to streamline financial management for small and medium-sized businesses (SMBs), eliminating the need for multiple systems or costly external services.
2. With the raised funds, Layer plans to expand its operations into numerous SMB verticals, offering AI-enhanced, automated bookkeeping services that cater to a wider range of industries.
3. As part of its growth strategy, Layer will focus on engineering and go-to-market roles, aiming to integrate accounting into the technology solutions that SMBs use for daily operations.
4. The digital transformation of finance and business processes through Layer's technology will help businesses access accurate, real-time financials without the need to toggle between different systems, providing a cost-effective and efficient solution.

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