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

Digits Overview

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

United StatesUnited States

Website

digits.com

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

Digits valuation by funding round
DateStageValuation
Mar 2022Series 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

Digits funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2022Series CSoftBank Group (lead); GV; Benchmark; 20VC$65M$565MDigits 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 2020Series BGV (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 2019Series ABenchmark (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

Investors in Digits by funding rounds participated
InvestorHQRoundsRoleFirst check
BenchmarkUnited StatesSan Francisco, CA3LeadNov 2019
GVUnited StatesSan Francisco, CA2LeadApr 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions 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

Basis
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 CountryUnited States
HQ City
New York City, NY
Deal Date17 Jun 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

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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

BeraTone
Description
-
HQ Country-
HQ City
-
Deal Date15 Jan 2025
RoundSeed
Raised$2M
InvestorsCitizenX; Yat Siu; wassie lawyer; Metaverse HQ; Avid3; Animoca Brands; Santiago Roel Santos; The Rollup; Metazero Capital; CBB0FE ‎‏‏‎; SNZ Holding
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Digits Competitors

Digits competitors include listed companies like Teamshares and Miroku Jyoho Service, and private ones like Fi.Money, Smart, Datarails and Khatabook.

Public and private companies comparable to Digits
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Fi.MoneyIndiaBangalorePrivate--$565M-
SmartUnited KingdomLondonPrivate$89M-$564M6.3x
DatarailsUnited StatesUnited StatesPrivate$100M-$550M5.5x
TeamsharesUnited StatesUnited StatesPublicly listed$472M($23M)$545M1.4x
KhatabookIndiaBangalorePrivate$9M-$600M66.7x
Miroku Jyoho ServiceJapanJapanPublicly listed$315M$58M$396M1.1x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x
Miroku Jyoho Service$315M$58M1.1x1.1x6.0x-
Nordtech Group$72M$15M5.1x-25.2x-
Baiwang Cloud$109M$433K2.6x2.7x648.3x-
Fujian Boss Software$299M$40M2.8x2.9x21.1x21.0x
Avant Group$181M$35M1.0x0.9x5.3x5.7x
Zaggle Prepaid Ocean$199M$20M1.0x1.0x10.4x10.7x
MCAP------

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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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