Digits is an AI-powered accounting platform that automates real-time bookkeeping and transaction categorization for small businesses, utilizing machine learning trained on over $750 billion in transactions. The service provides expert CPA oversight to ensure compliance with GAAP standards, streamlining financial operations and tax preparation while reducing the time spent on accounting tasks.
Funding
$97.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
SVFounders
Product
Problem
Startups often struggle with bookkeeping and transaction categorization, leading to inaccurate financials and time-consuming manual processes. Traditional accounting methods can be slow, expensive, and prone to errors, hindering informed decision-making.
Solution
Digits offers an AI-powered accounting platform that automates real-time bookkeeping and transaction categorization for startups. The platform connects to bank and credit card accounts, automatically importing transactions and statements. Digits employs machine learning models, trained on a large volume of transactions, to categorize transactions with high accuracy. Expert CPAs review and verify financials to ensure GAAP compliance, providing a managed service that reduces the burden on internal teams. The platform delivers intuitive, visual financial reports, enabling startups to monitor key metrics like runway and burn rate.
Target Audience
Digits primarily targets startups seeking to automate their accounting processes, improve financial accuracy, and gain real-time insights into their financial performance.
Features
- AI-powered bookkeeping with 24/7 transaction categorization
- Machine learning models trained on over $750 billion in transactions
- Automatic transaction flagging, reviews, and quality checks
- Real-time financial reporting with explorable financial statements
- Managed service with financials verified and reviewed by expert CPAs
- GAAP compliance guarantee
- Integrated bill pay solution
- Automated document collection and tax preparation
- Bank-grade security with advanced envelope encryption