Financial automation platform Trullion has secured $15 million in Series A funding, the startup announced on Wednesday. The startup will use funds to hire people in engineering, sales and marketing roles.
Trullion, which takes data that is unstructured, such as PDFs, "translates them into real-time financial images." The startup will use the funding to reach its and its funding " to accelerate its vision of modernizing the accounting and financial services industry," the company stated, with its funding to be co-led by Aleph and Third Point Ventures.
An Israeli startup, Trullion has offices in New York and in Tel Aviv.
With an AI-powered platform, Trullion can extract data from documents and help accounting teams to collaborate with their auditors in real-time.
“Trullion is at the vanguard of bringing accounting into the 21st century. A shared data exchange should enhance audits and make accounting more real-time,” said Michael Eisenberg, General Partner at Aleph.
“Accounting errors due to incorrect data entry, omissions, and compliance oversights can cost organizations millions of dollars and harm their brand reputations, yet it’s still all too commonplace for manual, laborious practices to pervade,” says Trullion co-founder and CEO Isaac Heller.