According to Sifted, London and New York-based startup Sequence has raised $20 million in funding to build its revenue platform for finance teams. The round was led by 645 Ventures and included participation from Andreessen Horowitz, Firstminute Capital, Passion Capital, Dig Ventures, and Vor Capital. The company was founded in 2022 by CEO Riya Grover, Eamon Jubbawy, and Enda Cahill, all of whom have prior startup founding experience. Sequence’s platform offers billing automation, contract processing, and invoice issuing, and it already counts over 100 customers like Legora, Moonpay, and Incident.io. The fresh capital will be used to accelerate AI agent development and expand engineering and go-to-market teams. This comes as the CFO tech stack vertical has seen over €1.3 billion in funding this year alone.
CFO Tech Stack Gold Rush
Here’s the thing: Sequence’s raise isn’t an isolated event. It’s a symptom of a massive, ongoing land grab. Investors are pouring money into tools that serve the office of the CFO, and the numbers are staggering. Over €1.3 billion has gone into this vertical so far this year. That’s up from €943 million in the same period last year, which itself was a huge sum. We’re talking about a sector that’s heating up, fast. Alongside Sequence, you’ve got rounds like Xelix’s €137 million and Vertice’s $50 million. So what’s driving this? Basically, after years of funding flashy consumer apps and marketplaces, VCs have decisively pivoted to “boring” B2B software. And finance software, especially tools that automate complex, manual revenue operations, is about as enterprise-ready as it gets. The pain point CEO Riya Grover described—finance teams drowning in manual work or using broken systems—is apparently a very expensive and widespread problem.
Founder Pedigree and Product Positioning
Now, Sequence isn’t just riding a wave. The founder pedigree here is a classic VC sweet spot. Grover (ex-Feedr), Jubbawy (co-founder of Onfido), and Cahill (founding team at Choco) have all “done it before.” That built-in credibility is a huge advantage when selling to other startups and scale-ups, which seems to be their initial beachhead with clients like Incident.io and Moonpay. Their product positioning is also smart. They’re not just another invoicing tool. They’re calling it a “revenue platform,” which bundles billing, contracts, and invoicing into one system designed to handle the messy, custom deals that sales teams love to close. That’s a direct shot at the rigidity of legacy ERP systems. The promise is to be the flexible, modern spine for a company’s revenue operations, which is a compelling—and potentially very sticky—proposition.
The AI Angle and What’s Next
And of course, there’s the AI angle. The funding is earmarked partly for “AI agents.” That’s the obligatory buzzword for 2024, but in this context, it probably makes sense. Think about automating contract review, intelligently routing approval workflows, or predicting revenue recognition issues. That’s the kind of value-add that could move them from a workflow tool to an essential intelligence layer. But the real challenge now is execution. They’ve got the cash and the market tailwind. The question is, can they scale their go-to-market engine fast enough to capture market share before the dozens of other well-funded players in this space do the same? The CFO tech stack is getting crowded, and while the funding boom is great for startups, it’s going to lead to a brutal consolidation phase down the line. For now, Sequence has secured a serious war chest to fight that battle.
