Collective, a platform managing finances raises $50 million

An online back-office platform for solopreneurs called Collective revealed today that it had secured $50 million from a group of investors that included Google’s AI fund, Gradient Ventures, Innovius Capital, The General Partnership, General Catalyst, QED, Expa, and Better Tomorrow Ventures.

Collective is the first ever online back office platform designed for Businesses.  The funding will be used to expand AI implementation into the existing product suite and on the core system. They will specifically deliver internal AI co-pilots to serve members better, including a new bookkeeping dashboard, task tracking, and financial insights. In addition, they will continue to grow their members.

Hooman Radfar mentioned in the blog that 40% of self-employed workers will utilize AI to radically support and improve their productivity and performance. The technology at Collective allows their members to achieve financial independence by taking care of everything from business incorporation to accounting, bookkeeping, tax services and more; all at a single place.