Accounting Firms

Pilot reaches $1.2bn value after Jeff Bezos-led funding round

The cash injection will be used by the San Francisco-based group to further support small businesses outsource their back-office tasks

Pilot, an accounting start-up, has expanded its series C funding round to $100m, bringing the total valuation of the firm to $1.2bn.

The investment round was led by Bezos Expeditions, the personal investment company of Jeff Bezos, and the hedge fund Whale Rock Capital, with participation from Sequoia and Index Ventures.

The cash injection will be used by the San Francisco-based group to further support small businesses outsource their back-office tasks.

Pilot claimed that Bezos’ “customer obsession” fits with its consumer-focused business model, with the firm acting on its guiding principle of “how can we make the back office experience even better?”

Waseem Daher, co-founder and CEO at Pilot, spent a period as an intern at Amazon 16 years ago, before forming two other companies that have since been acquired by Oracle and Dropbox.

He told CNBC: “There’s all of this annoying, tedious, scary and important back-office stuff that you need to do as a small business owner.

“Owners should focus on running a company at scale, and Pilot should be doing the back office stuff for you.”

Pilot provides support in administrative tasks such as payroll, bookkeeping, taxes, and bills for small businesses.

The “tech-enabled” firm has already formed partnerships with American Express, Bill.com, Gusto, and Stripe.

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