doggersis a French accounting startup that has generated $16.4 million (€15 million) in annual recurring revenue since its founding in 2015. And it’s a bootstrapped company, which means it hasn’t opened capital or raised any money from venture capital firms. But now, the company has decided to raise its first round of founding funding.
Dougs raises $27 million (€25 million) Expedition Growth Capitala British venture capital firm looking for investment opportunities In self-reliant companies that have reached a certain level of maturity. Dougs seemed like a good fit for the request, as the company had 14,000 customers and was already profitable.
At its core, Dougs is an online Chartered Accountant service for small and mid-sized companies. It processes your financial statements and generates certified tax returns. Behind the scenes, Dougs works with chartered accountants, legal experts, HR professionals and more. But the company also designed its own accounting application to improve the relationship between Dougs’ team and its customers.
In particular, customers can link Dougs to their bank accounts so that the accounting platform can automatically capture transactions. Customers can upload documents, receipts, etc. from the customer portal. Dougs can also handle expense reports and invoices, which means you can use Dougs to get an overview of your company’s revenue – past, present and future.
Additionally, Dougs can facilitate the merger process. It can also be used for your company’s payroll. Dougs also provides legal advice where required. In other words, startups handle all the usual tasks accountants handle.
Dougs has 250 employees. With today’s financing, the company expects to reach new heights by doubling the size of its team by 2025.Next, the startup plans to expand to new countries such as Germany and the UK
Dodgers competes with other online chartered accountants services such as Kobez, Lively, wittyetc.some tech companies like Pennyland They took a different approach when working with existing accounting firms, taking them from traditional accounting software solutions to modern software-as-a-service platforms.
But since accountancy firms in France are still extremely fragmented, there is room for a lot of companies in this space. Existing accounting firms using old-school accounting applications are still the default choice for many small and medium-sized companies.