American Express Venture arm invests in Seattle accounting Startup Lockstep

American Express Venture arm invests in Seattle accounting
Startup Lockstep

Amex Ventures, the venture arm of American Express, has made an undisclosed investment in Lockstep, a Seattle startup using software and the cloud to improve accounting practices. It follows a $10 million Series A round raised in February. Lockstep was founded in 2019. It uses “connected accounting”, which is email automation, and has accounting-specific mailboxes for the accounts payable and accounts receivable teams. This helps to avoid cash traps or cash leaks caused by human management of company books. In six months, the startup’s headcount has increased by 70 people and is expected to reach 140 employees next year. The total funding is currently $17 Million. Lockstep is led by co-founder and CEO Peter Horadan, who was previously previously EVP of engineering and CTO at tax automation company Avalara.

Publiated at Wed 11 August 2021, 17:29.04 +0000

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.