What does Canopy do?
Canopy develops a firm-wide operating system that integrates practice management solutions for medium and large accounting firms, handling processes from proposal to payment including client engagement, document management, workflow, time and billing, and more. Its platform is SOC2-certified and data encrypted, serving over 4,000 accounting firms.
How much did they raise?
The company raised $70M in a Series C round led by Viking Global Investors, with participation from Ten Coves Capital, Ankona Capital, Pelion Venture Partners, and Tenaya Capital.
What are their plans for the money?
Canopy intends to leverage the new capital to further enhance its platform, with a particular focus on incorporating AI to improve efficiency and profitability for its users.
What have they achieved so far?
The platform is already widely adopted by over 4,000 accounting firms, reflecting its effectiveness and the trust it has earned in the market.
