Sumary raises $25m seed led by Singular
The AI accounting company will expand in Europe and grow its commercial, implementation and research teams.
Sumary announced a $25 million seed round on November 9, led by Singular. Existing backers byFounders, Partech and Tenity participated, together with Steve Anavi, Tuomas Artman, Stanislas Polu, Steffen Tjerrild, Jannick Malling and Ben Freeman.
The company will use the funding to reach more accounting firms across Europe, with Benelux next after the Nordics and UK. It plans to grow its commercial team and the accountants who help customers implement the software, alongside further investment in AI research.
Sumary prepares monthly closes, VAT returns and year-end work across clients’ existing ledgers for accountants to review and sign off. Its customers include Deloitte, Grant Thornton and Baker Tilly; Copenhagen remains its technology base and London its commercial hub.
Use of funds
Expand across Europe beginning with Benelux
Grow commercial and implementation teams
Invest in AI accounting research