Briefcase raises $3M to automate accounts and bookeeping

Accounting automation startup Briefcase has raised $3M in a seed funding round led by Earlybird. Entrepreneur First and Tiny also participated alongside prominent angel investors including Charlie Songhurst, Mark Ransford, Greg Marsh, Bill Earner, Chris Mairs and executives from Pennylane, Deel, Pleo, and 11X.

Briefcase's platform aims to automate the most manual and time-consuming aspects of accounting, from bookkeeping to month-end close using technologies like multimodal AI and embeddings. With the funding, Briefcase will expand its team by hiring top engineers and product specialists and accelerating product development.

Despite being in its pre-launch phase, Briefcase has already partnered with several accounting firms in the UK to pilot its product. The company is has rolled out a beta version for select cutsomers in order to refine its product through frequent feedback and a validated product roadmap.

Earlybird Principal Akash Bajwa shared their conviction about team Briefcase: “LLMs, vision models, and the new scaling potential of reasoning unlock a completely new paradigm of automation in accounting than was possible before. We’ve been following this category for a long time and knew we had found the right team to execute against it after our first interaction with Reuben and Ján. They combine deep domain understanding with an incredible learning rate around the AI engineering needed to deliver truly agentic capabilities to this industry.”

“The accounting industry has only seen one major innovation in the past decade—the move from desktop to cloud,” noted Reuben Steenkamp, co-founder and CEO . “With the rise of multimodal AI, we’re positioned to lead the coming AI revolution.”

The global accounting industry valued at approximately $627 billion. The new funding will allow the company to expand its team by hiring top engineers and product specialists, accelerating product development, and better serving its growing base of early adopters.