JustPaid, the AI-powered Finance Company, has recently launched its innovative suite of services after successfully raising $3.5M in a seed funding round. JustPaid specializes in providing SMBs with automated bill payment, contract validation, and real-time AI financial auditing solutions, gaining the support and interest of tech figures and reputable funds. Investors include Rebel Fund (Reddit cofounder Steve Huffman, Cruise co-founder Daniel Kan, Instacart cofounder Max Mullen, among others), Leah Culver (formerly building Twitter spaces), Arash Ferdowsi (former CTO/Dropbox cofounder), Jack Abraham (Founding Partner of Atomic), Mamoon Hamid (partner at Kleiner Perkins), Orange Collective, Decacorn Capital, Lab Capital Advisors and Y Combinator – to name a few.
The brand’s mission is to democratize and simplify the professional lives of company operators with their continuous audit between the contracts and bills to pay, and allow small business operators to receive and track payments, understand their finances with analytics, and identify opportunities, all of which is powered by AI, and they already have thousands in ARR and growing.
“We are so thrilled to be bringing JustPaid to market. Founders and their teams need a copilot providing a usable dashboard to make them certain about cash flow visibility into their company, and JustPaid is giving financial insights real time,” says co-founder Daniel Kivatinos, a second-time Y Combinator founder who sold his first company in November 2021.
“Before we launched JustPaid, I was struggling with the lack of workflow. There are so many software solutions, but I had to piece it all together through Excel, and reading PDF documents,” says co-founder Anelya Grant, a second-time founder who built a successful tech-focused accounting firm. “I was spending hours trying to answer a few questions all companies had – what’s our revenue, can we afford to hire more people and when will we run out of money?”
“When founders have enough tools to understand their finances the company’s employees will feel more secure,” says co-founder Vinay Pinnaka. “Before starting JustPaid, I saw the struggles startups have not knowing their spend. I wanted to build a tool to help companies manage their expenses and recognize their revenue.”
The small and mid/large business market size for JustPaid’s FinTech software is a $5B+ dollar market – with large parts of financial controllers’ work being automated by AI.