Uplinq, an AI-powered bookkeeping and tax solutions provider focused on small and medium-sized businesses (SMBs), has secured $10m in its Series A funding round.
Next Coast Ventures led the funding round, which also saw participation from AZ-VC, Live Oak Ventures, and existing investors.
Headquartered in Tempe, Arizona, the US, Uplinq intends to deploy the capital to fuel its expansion, advance its AI technology, broaden customer acquisition initiatives, and bolster its infrastructure to provide efficient, automated financial management solutions.
As Uplinq embarks on its next growth stage, it is actively scaling its engineering, go-to-market, and customer success teams.
SMBs continue to face difficulties in managing financial operations, frequently slowed down by outdated bookkeeping practices and legacy tax systems that are inefficient and prone to mistakes, the startup explained.
Uplinq adds that it tackles these issues by utilising AI to streamline intricate bookkeeping and tax processes, delivering accuracy, efficiency, and scalability.
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By GlobalDataThe platform employs AI agents to manage all the aspects of bookkeeping, from transaction classification and reconciliation to predictive insights and tax compliance.
Uplinq said: “This cutting-edge automation not only enhances accuracy and operational efficiency but also empowers SMBs to leverage financial insights in real-time, driving strategic decision-making and business growth.”
Next Coast Ventures co-founder and managing partner Thomas Ball said: “Uplinq is transforming the way SMBs approach financial management. Their innovative use of AI to automate bookkeeping and tax processes addresses a critical need in the market. We are excited to support their journey as they scale and redefine industry standards.”
Established in 2020, Uplinq caters close to 1,000 SMBs throughout the US, covering sectors such as e-commerce, healthcare, logistics, and hospitality.
Uplinq CEO and co-founder Alex Glenn said: “We are building more than just a platform—we are creating a new, innovative way for small businesses to manage their finances with the simplicity, accuracy, and insight they deserve.”
