Fieldguide, an automation and collaboration platform aimed at audit and advisory firms, announced that it has raised $17 million in Series A funding at a valuation of $100 million.
The round was led primarily by 8VC, which provided $17 million, and supported by Floodgate, the American Institute of CPAs and CPA.com, and several others. The new money brings the company’s total funding to $20 million.
The cloud-based platform facilitates risk assessment and management in a number of areas, including cybersecurity and environmental, social and governance-related issues. Fieldguide plans to use the new funding this year to quadruple their team, and to expand its product offerings and scale its go-to-market initiatives.
“As a former practitioner at a top global firm, I’ve always wanted a platform like Fieldguide to simplify and modernize complex risk and compliance projects. Our team is dedicated to advancing the audit and advisory profession, which serves a noble purpose in ensuring commerce and capital markets run with trust,” said Fieldguide CEO and co-founder Jin Chang in a statement.
“8VC has a long history of building billion-dollar companies by specifically looking for inefficiencies and archaic ways things are done in a sector, researching how technology and innovation can resolve these problems, and backing brilliant and dedicated teams who can bring entire industries into the modern era,” said 8VC partner Alex Moore. “I have complete confidence in Jin’s proven expertise in the field as well as his leadership abilities and have been deeply impressed with his clarity in designing solutions to massive problems; I was proud to be the earliest backer of his company. As we watch the risk and compliance landscape change so dramatically, what Jin and his team are doing in the auditing and advisory space is revolutionary.”
Fieldguide was recently named a member of the AICPA and CPA.com’s 2022 Startup Accelerator.