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- Digits
Digits Valuation, Funding & Investors
Digits is valued at $565M as of March 2022.
Last Digits valuation
$565M
Series C · Mar 2022
Last Digits funding round
$65M
Series C · Mar 2022
Cumulative funding Digits raised
$98M
across 3 funding rounds
Key investors in Digits
Benchmark
GV
SoftBank Group
20VC
About Digits
Digits is a fintech company building accounting and business finance software for accountants, CPAs, and finance professionals. Its proprietary Living Model uses machine learning to understand a business's finances in real time, analyzing customers, suppliers, bank accounts, employees, and the transactions between them at an object level. Products such as Digits Reports and its Report Builder sit on top of existing accounting platforms like QuickBooks, giving accounting firms real-time financial reporting they can activate across their client portfolios in a few clicks.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$565M (Mar 2022)
Digits Valuation
Digits is currently valued at $565M, based on its Series C in March 2022.
The $65M round was led by SoftBank Group, with participation from GV, Benchmark and 20VC.
Digits valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2022 | Series C | $565M |
Digits Funding History
Digits has raised a total of $98M across 3 funding rounds.
Digits' first fundraising round was a $11M Series A in November 2019. The most recent completed round was a $65M Series C in March 2022.
Digits funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Series C | SoftBank Group (lead); GV; Benchmark; 20VC | $65M | $565M | Digits is a fintech company building next-generation accounting and business finance software designed for accountants, CPAs, and finance professionals. The company uses proprietary machine learning technology called the 'Living Model' to automatically understand business finances in real-time, analyzing customers, suppliers, bank accounts, employees, and transactions between them at the object level. This foundation enables products like Digits Reports, which provides accountants and finance teams with intuitive, real-time financial reporting capabilities alongside a Report Builder tool for creating customized client reports. In March 2022, Digits raised $65 million in Series C funding led by SoftBank Vision Fund, bringing the company's post-money valuation to $565 million and total funding to $97.5 million. The Series C funding was earmarked for executing on the company's commitment to cutting-edge accounting and business finance solutions. At the time of the funding announcement, Digits was still in an invite-only phase with a substantial waiting list of 16,000 potential customers, having amassed significant interest since emerging from stealth mode. The company's product sits on top of existing accounting software platforms such as QuickBooks and requires only a few clicks to activate across an accounting firm's entire client portfolio without data transfer or configuration requirements. |
| Apr 2020 | Series B | GV (lead); Benchmark | $22M | - | Digits is a fintech startup offering real-time financial analysis and accounting software for businesses. The company announced its Series B funding of $22 million on April 27, 2020, led by GV (Google Ventures) general partner Jessica Verrilli, who joined Digits' board. The round included participation from previous backer Benchmark and over 70 angel investors. This capital injection came just months after Digits raised $10.5 million in its Series A from Benchmark and 72 angels. The company announced it would offer its Digits for Expenses product free of charge to help companies navigate challenges from the coronavirus pandemic. |
| Nov 2019 | Series A | Benchmark (lead) | $11M | - | Digits is a financial reporting and accounting platform founded by Wayne Chang and Jeff Seibert, the same team behind Crashlytics, which was acquired by Twitter and later sold to Google. In November 2019, Digits announced a $10.5 million Series A funding round led by Benchmark, with participation from 72 angel investors including founders and executives from Box, GitHub, Tinder, Twitch, StitchFix, and SoFi. At the time of the raise, Digits remained in stealth and invite-only mode with just 10 employees, though the company reported processing over $1.5 billion in transactions on its platform. The round brought Benchmark general partner Peter Fenton onto Digits' board. The company was building what it called a "counting company" focused on helping accountants and finance professionals manage financial reporting, paperwork, and spreadsheets. |
Who has invested in Digits?
4 investors have backed Digits across its funding rounds, including Benchmark, GV, SoftBank Group and 20VC.
Lead investors include SoftBank Group, GV and Benchmark.
Digits Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Nov 2019 | ||
| 2 | Lead | Apr 2020 | ||
This data is available for Pro users. Sign up to see all 4 Digits investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Digits
Digits has acquired 1 company to date.
Last acquisition by Digits was on June 17th 2024. Digits acquired Basis for undisclosed valuation.
Latest Acquisitions by Digits
| Description | Basis is a financial analytics platform equipping finance teams with advanced reporting and forecasting tools. New York-headquartered, the service integrates with ERP and CRM systems to deliver customizable dashboards and scenario modeling for strategic decision-making in enterprises. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 17 Jun 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Digits acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by Digits
Digits has invested in 1 company to date.
Latest investment by Digits was on January 15th 2025. Digits invested in BeraTone in their $2M Seed round.
Latest Investments by Digits
| Description | - |
| HQ Country | - |
| HQ City | - |
| Deal Date | 15 Jan 2025 |
| Round | Seed |
| Raised | $2M |
| Investors | CitizenX; Yat Siu; wassie lawyer; Metaverse HQ; Avid3; Animoca Brands; Santiago Roel Santos; The Rollup; Metazero Capital; CBB0FE ; SNZ Holding |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Digits investments and their VC round multiples. Start Free Trial | |
Digits Competitors
Digits competitors include listed companies like Teamshares and Miroku Jyoho Service, and private ones like Fi.Money, Smart, Datarails and Khatabook.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $565M | - | ||
| Private | $89M | - | $564M | 6.3x | ||
| Private | $100M | - | $550M | 5.5x | ||
| Publicly listed | $472M | ($23M) | $545M | 1.4x | ||
| Private | $9M | - | $600M | 66.7x | ||
| Publicly listed | $315M | $58M | $396M | 1.1x |
Digits Public Comps
Digits is still privately-owned, but its public comps include Teamshares, Miroku Jyoho Service, Nordtech Group, Baiwang Cloud, Fujian Boss Software, Avant Group, Zaggle Prepaid Ocean, MCAP, Expensify and 74Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $315M | $58M | 1.1x | 1.1x | 6.0x | - | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $109M | $433K | 2.6x | 2.7x | 648.3x | - | |||
| $299M | $40M | 2.8x | 2.9x | 21.1x | 21.0x | |||
| $181M | $35M | 1.0x | 0.9x | 5.3x | 5.7x | |||
| $199M | $20M | 1.0x | 1.0x | 10.4x | 10.7x | |||
| - | - | - | - | - | - | |||
This data is available for Pro users. Sign up to see all Digits competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Digits
| When was Digits founded? | Digits was founded in 2018. |
| Where is Digits headquartered? | Digits is headquartered in United States. |
| Is Digits publicly listed? | No, Digits is a private, VC-backed company. |
| What is Digits' valuation? | Digits was last valued at $565M in its Series C in March 2022. |
| How much funding has Digits raised? | Digits has raised $98M across 3 funding rounds. |
| What was Digits' last funding round? | Digits' last funding round was a $65M Series C in March 2022, led by SoftBank Group. |
| Who are Digits' investors? | Digits' investors include Benchmark, GV, SoftBank Group and 20VC. |
| Which companies are comparable to Digits? | Companies comparable to Digits include Fi.Money, Smart, Datarails, Teamshares, Khatabook and Miroku Jyoho Service. |
| How many companies has Digits acquired? | Digits has acquired 1 company, including Basis. |
| How many companies has Digits invested in? | Digits has invested in 1 company, including BeraTone. |
| What was Digits' last investment? | In January 2025, Digits invested in BeraTone's $2M seed round alongside CitizenX, Yat Siu, wassie lawyer and 8 other investors. |
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