Layer Secures $6.6 Million in Seed Funding to Revolutionize SMB Accounting

Layer, an innovative embedded accounting platform designed for small and medium-sized businesses (SMBs), has announced a successful $6.6 million seed funding round. This investment, led by Emergence Capital with participation from Better Tomorrow Ventures, is set to enhance Layer's mission of embedding accounting functionalities directly into the software platforms SMBs use daily, thereby simplifying their financial management processes.

The digital transformation era has encouraged SMBs to adopt various software solutions for operational tasks, yet accounting has often remained a manual and fragmented process. Layer's solution integrates accounting and bookkeeping services into platforms like Moxie, Nav, and Dripos, eliminating the reliance on external accounting tools or complex spreadsheets. Justin Meretab, CEO and co-founder of Layer, highlighted the platform's ability to seamlessly incorporate accounting into SMBs' workflows, offering financial clarity and saving valuable time for business owners.

Layer's AI-powered bookkeeping service automates the categorization and recording of transactions, provides monthly reconciled financial reports, and enables SMBs to consult with an AI-supported bookkeeper within their familiar software environment. Kevin Spain of Emergence Capital praised Layer's innovative approach, emphasizing its potential to fundamentally alter how SMBs manage and comprehend their financial operations.

With a fourfold increase in its SMB platform customer base over the past year and support for over 30,000 SMBs, Layer is leveraging this new funding to expand into additional SMB verticals and refine its AI-powered platform. This strategic move aims to customize Layer's services to meet the unique demands of various industries, further solidifying its position as a transformative force in SMB financial management.