Puzzle is building a modern accounting package for today’s API-enabled startups
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Puzzle is building a modern accounting package for today’s API-enabled startups
A company starting from scratch today is probably going to use a stack of financial software with the most modern fintech tools. These could be things like Stripe for payments, Brex for corporate credit cards and Gusto for payroll and benefits, among others that when combined can provide a unique view into a company’s financial health.
Puzzle, an early-stage startup, is building an accounting package aimed at taking advantage of the data streaming from these tools. Today, the company is making its public debut, while announcing a $15 million Series A.
Sasha Orloff, CEO and co-founder of Puzzle, calls his company “the first smart accounting software,” which combines a streaming financial data platform that's connected to a general accounting ledger.
“By combining these two things, we can create a whole new set of capabilities for an organization across fundraising, taxes and understanding the complete picture of financial health [at a startup], Orloff told TechCrunch.
The streaming piece is possible because of the ability to connect to things like payment and payroll data in real time and update the ledger with the most recent information. Instead of compiling this data on a monthly basis, the company can have the most current information at its fingertips at all times, and that can be a real advantage, according to Orloff.
“We pull natively off of that modern stack to create this single place where a company can see all of their data and how these things kind of fit together to then create a picture of your financial health. So it's like a complement to all of the modern innovation that has been happening,” he said.
Ultimately, Orloff wants to be more than an accounting software service for startups, but he calls that a starting point for the company. He says that the goal is eventually to replace traditional ERP (enterprise resource planning) software with this “API-enabled data platform that's connected to all of the best solutions in the market, not just what happens to be bundled together in the [vendor’s] API.”
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