Aiwyn Secures $113M in Funding from KKR and Bessemer Venture Partners to Revolutionize Firm Operations and Tax Technology for Leading CPA Firms
Aiwyn, a technology provider for CPA firms, has secured a $113M funding round led by KKR and Bessemer Venture Partners. The company currently serves 130 of the top 500 CPA firms with automation software for revenue management. The funding will support Aiwyn's expansion from its current payments and collections suite into a comprehensive practice management platform, including the development of the industry's first universal client experience portal and a new tax solution.
The investment, primarily funded through KKR's Next Generation Technology III Fund, recognizes Aiwyn's strong market position and high Net Promoter Score. The company aims to transform how CPA firms manage operations from CRM to General Ledger while improving client experiences.
Aiwyn, un fornitore di tecnologia per studi CPA, ha ottenuto un
L'investimento, principalmente finanziato attraverso il Next Generation Technology III Fund di KKR, riconosce la forte posizione di mercato di Aiwyn e il suo elevato punteggio di Net Promoter. L'azienda punta a trasformare il modo in cui gli studi CPA gestiscono le operazioni, dal CRM al libro mastrale, migliorando al contempo l'esperienza dei clienti.
Aiwyn, un proveedor de tecnología para firmas de CPA, ha asegurado una
La inversión, financiada principalmente a través del Next Generation Technology III Fund de KKR, reconoce la sólida posición de mercado de Aiwyn y su alto Net Promoter Score. La empresa tiene como objetivo transformar la forma en que las firmas de CPA manejan las operaciones, desde CRM hasta el libro mayor, mientras mejora las experiencias de los clientes.
Aiwyn, CPA 회사들을 위한 기술 제공업체가 1억 1300만 달러의 자금 조달 라운드를 KKR과 Bessemer Venture Partners의 주도로 확보했다. 이 회사는 현재 수익 관리 자동화 소프트웨어를 사용하는 500대 CPA 회사 중 상위 130곳을 지원하고 있다. 이번 자금 조달은 Aiwyn이 현재의 결제 및 수금 서비스를 포괄적인 실무 관리 플랫폼으로 확장하는 데 지원하며, 업계 최초의 보편적인 고객 경험 포털 및 새로운 세금 솔루션 개발을 포함한다.
이번 투자는 KKR의 Next Generation Technology III Fund를 통해 주로 자금이 조달되며, Aiwyn의 강력한 시장 위치와 높은 넷 프로모터 점수를 인정한다. 이 회사는 CPA 회사들이 CRM에서 일반 장부에 이르는 운영을 관리하는 방식을 혁신하고 고객 경험을 개선하는 것을 목표로 하고 있다.
Aiwyn, un fournisseur de technologie pour les cabinets d'expertise comptable (CPA), a obtenu un financement de 113 millions de dollars dirigé par KKR et Bessemer Venture Partners. L'entreprise sert actuellement 130 des 500 meilleurs cabinets CPA avec un logiciel d'automatisation pour la gestion des revenus. Ce financement soutiendra l'expansion d'Aiwyn de sa suite de paiements et de recouvrements actuels vers une plateforme complète de gestion de cabinet, y compris le développement du premier portail d'expérience client universel dans l'industrie et une nouvelle solution fiscale.
L'investissement, principalement financé par le Next Generation Technology III Fund de KKR, reconnaît la forte position de marché d'Aiwyn et son score Net Promoter élevé. L'entreprise vise à transformer la façon dont les cabinets CPA gèrent leurs opérations, du CRM au grand livre, tout en améliorant l'expérience client.
Aiwyn, ein Technologieanbieter für CPA-Firmen, hat eine Finanzierungsrunde über 113 Millionen US-Dollar gesichert, die von KKR und Bessemer Venture Partners geleitet wurde. Das Unternehmen bedient derzeit 130 der besten 500 CPA-Firmen mit Automatisierungssoftware für das Umsatzmanagement. Die Finanzierung wird Aiwyn dabei unterstützen, sich von der aktuellen Suite für Zahlungen und Inkasso zu einer umfassenden Praxisverwaltungsplattform zu entwickeln, einschließlich der Entwicklung des ersten universellen Kundenportals der Branche und einer neuen Steuersoftware.
Die Investition, die hauptsächlich über KKR's Next Generation Technology III Fund finanziert wird, erkennt die starke Marktposition von Aiwyn und ihren hohen Net Promoter Score an. Das Unternehmen zielt darauf ab, die Art und Weise, wie CPA-Firmen ihre Operationen vom CRM bis zur Hauptbuchhaltung verwalten, zu transformieren und gleichzeitig die Kundenerfahrungen zu verbessern.
- Secured substantial $113M funding from major investors KKR and Bessemer
- Strong market presence with 130 of top 500 CPA firms as clients
- High Net Promoter Score indicating strong customer satisfaction
- Expanding product offering into comprehensive practice management platform
- None.
Insights
This
The investment thesis appears to be built on three key pillars: market opportunity in modernizing legacy accounting systems, proven product-market fit evidenced by high NPS scores and scalable revenue potential through expansion into practice management and tax solutions. For KKR shareholders, this represents a calculated bet on the digital transformation of professional services, with potential for strong returns given the fragmented nature of the accounting software market.
The technical strategy here is compelling - Aiwyn's expansion from payment automation into a comprehensive practice management platform represents a classic land-and-expand SaaS playbook. The development of a universal client experience portal addresses a critical pain point in the accounting industry where fragmented systems create operational inefficiencies. The mention of AI and cloud technologies isn't just buzzword compliance - it's essential for modernizing the accounting workflow.
The focus on reducing days sales outstanding through automation is particularly noteworthy, as it directly impacts cash flow for accounting firms. This practical application of technology to solve concrete business problems, combined with the planned tax solution development, positions Aiwyn to potentially disrupt established players like Thomson Reuters and Wolters Kluwer in the professional services software market.
Today, Aiwyn serves 130 of the top 500 CPA firms as a leading provider of automation software designed to streamline the full revenue management lifecycle for accounting firms. Aiwyn’s current product creates an exceptional client experience for CPA firms by automating manual payments and collections workstreams and reconciling payments and invoices for both CPAs and their end-clients.
“Aiwyn is committed to empowering CPA firms to elevate their operations and client relationships,” said Justin Adams, Chairman & CEO of Aiwyn. “With this investment, we are poised to redefine how firms manage their operations from the CRM to the General Ledger while setting a new benchmark for client experiences. For too long, firms have had to decide between a legacy vendor or modern point solutions. We are proud that Aiwyn is a trusted platform for CPA firms.”
The new funding will support Aiwyn’s vision to evolve its payments and collections suite into a comprehensive practice management platform. This includes the creation of the industry's first universal client experience portal, enabling CPA firm clients to access all their engagements in one seamless interface. The investment will also enable Aiwyn to accelerate product development, bringing the full capabilities of AI and cloud technologies to the sector by building out both a comprehensive practice management platform as well as a cutting-edge tax solution that is currently in development.
“The accounting industry represents a large market that has long been served by legacy players. Aiwyn is solving a clear functionality gap in the market with a solution that is easily adopted and rapidly delivers tangible enhancements to the customer experience, most noticeably through significant reductions in days sales outstanding,” said Jackson Hart, a Principal on KKR’s Technology Growth team.
“We were also impressed by Aiwyn’s Net Promoter Score, which is a testament to the unmatched value Aiwyn delivers to their clients, as well as the deep trust they’ve earned in the market. We believe Aiwyn is well-positioned to continue to improve the lives and operations of their customers as they transform the way leading CPA firms do business,” added Ben Pederson, a Director on KKR’s Technology Growth team.
Jeremy Levine, Partner at Bessemer, said: “Aiwyn's product suite is already quite impressive, but the company is really just getting started on its quest to deliver compelling technology to the accounting industry.“
This funding round highlights the alignment of Aiwyn’s mission to empower accountants with the tools they need to thrive. By offering scalable, future-proof solutions, the company aims to shape the future of firm operations and tax technology and put trust into technology for firms and their clients.
KKR is funding this investment primarily from its Next Generation Technology III Fund.
Cooley LLP served as legal advisor to Aiwyn, Latham & Watkins LLP served as legal advisor to KKR and Arnold & Porter Kaye Scholer LLP served as legal advisor to Bessemer.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241219022365/en/
Media
Aiwyn
Lauren Jennings
lauren.jennings@aiwyn.ai
KKR
Liidia Liuksila or Emily Cummings
media@KKR.com
Bessemer
Amie Rubenstein
press@bvp.com
Source: Aiwyn
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