Latest news with #RibbitCapital
National Post
9 hours ago
- Business
- National Post
Multiplier Holdings Launches With $27.5 Million in Funding to Accelerate the AI Journey for Professional Services Firms
Article content Funding led by Lightspeed Venture Partners will help Multiplier acquire high-growth firms to improve client experience, growth, and productivity with AI Article content SINGAPORE — Today, Multiplier Holdings, a technology company building AI-native professional services firms, publicly launched with $27.5 million in Seed and Series A funding. The Series A round was led by Lightspeed Venture Partners with participation from Ribbit Capital (led the Seed), EDBI, and SV Angel. Multiplier is helping to overcome the AI adoption hurdle by acquiring specialized professional services firms and integrating custom AI automation to deliver better results for clients, drive efficiency and fuel growth. Article content Globally, the professional services market is valued at over $6 trillion, and is projected to grow significantly in the coming years (e.g., tax advisory services are forecasted to grow at 11.2% CAGR). Tax, accounting, specialized advisory and other high-stakes professional services firms face more demand than they can supply with a declining workforce, alongside high labor costs and legacy technologies. Article content Multiplier acquires ambitious boutique services firms, onboards them to its AI-driven practice management platform, and then iteratively and diligently works with the firms' domain experts to uplevel the client experience and improve the scalability of the business. Article content 'Vertical SaaS might not be the best path to modernize an industry. Building an AI-native professional services platform from the ground up creates the most technological leverage and captures more incentive alignment between domain and technology experts than traditional SaaS,' said Justin Overdorff, Partner at Lightspeed Venture Partners. 'The Multiplier approach—an AI-first software company acquiring existing service firms to compete directly in the services business by using proprietary technology—allows us to elevate the client and staff experience in a radical way. As it scales, Multiplier can become the preferred buyer in these categories by underwriting the largest and most repeatable post-acquisition improvements to the business while ensuring firm owners and staff participate in the upside.' Article content Multiplier partners with the firms it owns to directly embed its technology, iteratively developing new features and offering hands-on technical support as a long-term owner, working alongside the firm's staff to create customized AI-driven solutions to fit the exact needs of each specialized firm. This approach enables Multiplier to build customizable solutions to automate critical but time-consuming tasks and free up time to deliver better outcomes for clients. Article content 'We believe the market will reward players who compete on technology-enabled client service through an integrated platform of people and tech. While our portfolio firms maintain operational independence, we align incentives across all stakeholders—from Multiplier leadership to firm leaders and staff—creating hybrid technology firms with exceptional client service, automation, and quality that traditional firms using off-the-shelf AI solutions simply cannot match,' said Noah Pepper, CEO of Multiplier Holdings and former Stripe executive. Article content The model is working. Within the first eight months since starting their tech build-out, Multiplier's AI-powered platform helped Citrine International Tax multiply cash flows by approximately 2.5 times and eliminate large swaths of highly manual work. A significant portion of this lift was shared back with the staff of the firm in the form of performance bonuses while delivering enhanced service to clients. Article content 'When Noah approached us, we saw Multiplier as a unique opportunity to become part of a technology firm and deliver a truly differentiated level of client service– all while growing the business together,' said Gregory Trotman, founder of Citrine International Tax. 'The Multiplier team immersed themselves in our workflows, built a custom end-to-end technology platform and worked with our staff to streamline everything from client onboarding to billing, resulting in a huge lift in productivity.' Article content Clients are noticing the impact of the technology too: 'Citrine has been a major upgrade compared to prior firms we used. Emily, our advisor at Citrine, is more responsive and easier to work with, and the tools she's using help us gain clarity and confidence about where our return is in the workflow – and rapidly confirm when things have been submitted to the authorities,' said Keith Robinson, an American technology investor and former C-level executive living in London who became a Citrine client in the last year. Article content About Lightspeed Venture Partners Article content Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in AI, Enterprise, Consumer, Health, and Fintech. Over the past 25 years, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Abridge, Affirm, Anthropic, Cato Networks, Epic Games, Glean, Mistral, Moveworks, Navan, Netskope, Rubrik, Snap, Wiz, and more. Lightspeed and its global team currently manage over $30B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. About Multiplier Holdings Multiplier Holdings scales high-impact professional services firms through the power of AI. Multiplier's unique model entails acquiring professional services firms, like specialized tax and accounting practices, and transforming them into more scalable, profitable businesses by systematically integrating custom AI solutions. Multiplier holds a library of AI and workflow components developed in-house that can be configured to fit the needs of each acquired firm. This allows Multiplier to automate critical, time-consuming tasks to increase firm efficiency and productivity and drive growth, while improving both the customer and employee experience. To learn more, visit Article content Article content
Yahoo
10 hours ago
- Business
- Yahoo
Multiplier Holdings Launches With $27.5 Million in Funding to Accelerate the AI Journey for Professional Services Firms
Funding led by Lightspeed Venture Partners will help Multiplier acquire high-growth firms to improve client experience, growth, and productivity with AI SINGAPORE, June 18, 2025--(BUSINESS WIRE)--Today, Multiplier Holdings, a technology company building AI-native professional services firms, publicly launched with $27.5 million in Seed and Series A funding. The Series A round was led by Lightspeed Venture Partners with participation from Ribbit Capital (led the Seed), EDBI, and SV Angel. Multiplier is helping to overcome the AI adoption hurdle by acquiring specialized professional services firms and integrating custom AI automation to deliver better results for clients, drive efficiency and fuel growth. Globally, the professional services market is valued at over $6 trillion, and is projected to grow significantly in the coming years (e.g., tax advisory services are forecasted to grow at 11.2% CAGR). Tax, accounting, specialized advisory and other high-stakes professional services firms face more demand than they can supply with a declining workforce, alongside high labor costs and legacy technologies. Multiplier acquires ambitious boutique services firms, onboards them to its AI-driven practice management platform, and then iteratively and diligently works with the firms' domain experts to uplevel the client experience and improve the scalability of the business. "Vertical SaaS might not be the best path to modernize an industry. Building an AI-native professional services platform from the ground up creates the most technological leverage and captures more incentive alignment between domain and technology experts than traditional SaaS," said Justin Overdorff, Partner at Lightspeed Venture Partners. "The Multiplier approach—an AI-first software company acquiring existing service firms to compete directly in the services business by using proprietary technology—allows us to elevate the client and staff experience in a radical way. As it scales, Multiplier can become the preferred buyer in these categories by underwriting the largest and most repeatable post-acquisition improvements to the business while ensuring firm owners and staff participate in the upside." Multiplier partners with the firms it owns to directly embed its technology, iteratively developing new features and offering hands-on technical support as a long-term owner, working alongside the firm's staff to create customized AI-driven solutions to fit the exact needs of each specialized firm. This approach enables Multiplier to build customizable solutions to automate critical but time-consuming tasks and free up time to deliver better outcomes for clients. "We believe the market will reward players who compete on technology-enabled client service through an integrated platform of people and tech. While our portfolio firms maintain operational independence, we align incentives across all stakeholders—from Multiplier leadership to firm leaders and staff—creating hybrid technology firms with exceptional client service, automation, and quality that traditional firms using off-the-shelf AI solutions simply cannot match," said Noah Pepper, CEO of Multiplier Holdings and former Stripe executive. The model is working. Within the first eight months since starting their tech build-out, Multiplier's AI-powered platform helped Citrine International Tax multiply cash flows by approximately 2.5 times and eliminate large swaths of highly manual work. A significant portion of this lift was shared back with the staff of the firm in the form of performance bonuses while delivering enhanced service to clients. "When Noah approached us, we saw Multiplier as a unique opportunity to become part of a technology firm and deliver a truly differentiated level of client service– all while growing the business together," said Gregory Trotman, founder of Citrine International Tax. "The Multiplier team immersed themselves in our workflows, built a custom end-to-end technology platform and worked with our staff to streamline everything from client onboarding to billing, resulting in a huge lift in productivity." Clients are noticing the impact of the technology too: "Citrine has been a major upgrade compared to prior firms we used. Emily, our advisor at Citrine, is more responsive and easier to work with, and the tools she's using help us gain clarity and confidence about where our return is in the workflow - and rapidly confirm when things have been submitted to the authorities," said Keith Robinson, an American technology investor and former C-level executive living in London who became a Citrine client in the last year. About Lightspeed Venture Partners Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in AI, Enterprise, Consumer, Health, and Fintech. Over the past 25 years, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Abridge, Affirm, Anthropic, Cato Networks, Epic Games, Glean, Mistral, Moveworks, Navan, Netskope, Rubrik, Snap, Wiz, and more. Lightspeed and its global team currently manage over $30B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. About Multiplier Holdings Multiplier Holdings scales high-impact professional services firms through the power of AI. Multiplier's unique model entails acquiring professional services firms, like specialized tax and accounting practices, and transforming them into more scalable, profitable businesses by systematically integrating custom AI solutions. Multiplier holds a library of AI and workflow components developed in-house that can be configured to fit the needs of each acquired firm. This allows Multiplier to automate critical, time-consuming tasks to increase firm efficiency and productivity and drive growth, while improving both the customer and employee experience. To learn more, visit View source version on Contacts For press inquiries contact Chelsea Corona ccorona@ Sign in to access your portfolio
Finextra
17 hours ago
- Business
- Finextra
Juniper Square completes $130 million Series D
Juniper Square, the pioneer of connected fund software and services for private markets, today announced it closed its Series D round and secured $130 million in new funding led by Ribbit Capital, with significant strategic investment from Fifth Wall, and additional participation from Redpoint Ventures, HighSage Ventures, Blue Owl Capital and others. 0 Juniper Square will use the capital to accelerate investment in JunieAI—the first enterprise-grade AI built specifically for the needs of private markets GPs. JunieAI combines the power of modern large language models (LLMs) with critical enabling components—Juniper Square's fund system of record for GPs and LPs, a scaled data model, comprehensive workflows coupled with managed services, industry integrations, and robust measures for security, control, and permissioning—to help GPs move faster, work smarter, and operate more efficiently. Juniper Square announces $130 million Series D financing round and the launch of JunieAI As an agentic AI platform, JunieAI provides: Agents supporting the work of investor relations, fund administration, portfolio management, and investment decisions Model-agnostic orchestration across agents, tools, workflows, and systems Precision tools for the accuracy demands of accounting and reporting, fused with the ease of use and power of generative AI Secure, enterprise-grade permissioning and control Deep domain expertise in private markets AI workflows wrapped with full service solutions Unified structured and unstructured data—including from emails and documents Seamless integration with existing GP tools Fine-grained agent governance, empowering GPs to define how AI agents behave, respond, and defer across use cases "The private markets are undergoing a once-in-a-generation transformation driven by two tsunamis of change: the rise of the retail investor and the breakthrough potential of AI," says Alex Robinson, CEO and Co-Founder at Juniper Square. "Our mission is to equip GPs with the technology and services they need to thrive in this new era. With JunieAI, we're helping our customers stay ahead—turning disruption into opportunity across every facet of work inside of the modern GP." "Juniper Square is uniquely positioned to lead the private markets into the AI era," says Nick Shalek, General Partner at Ribbit Capital. "Few companies have the combination of enterprise-grade trust, enabling infrastructure, deep domain expertise, and structured data at scale that Juniper Square brings to bear. With JunieAI, they're harnessing these strengths to build AI solutions that are purpose-built for private markets—not just bolted on. We're thrilled to support Juniper Square as it sets the standard for how this industry will evolve." This fundraise follows a period of rapid growth for Juniper Square including >100% 3-year CAGR in its fund administration business, which today manages over 2,000 fund entities globally across an extensive range of strategies and complex fund structures. Growth has been especially strong in the private equity and venture capital verticals, which now represent four of the five largest customers by revenue. In May, Juniper Square expanded into Luxembourg, unlocking integrated fund administration and efficient cross-border operations for private markets GPs at a global scale. "Juniper Square stands out as a frontrunner to lead the private markets as the world moves toward an AI-driven future," says Jay Maher, Global Chief Operating Officer at H.I.G. Capital. "Juniper Square's focus on AI innovation will deliver transformative benefits across the industry—empowering organizations to better serve investors and drive long-term growth." Over the past decade, Juniper Square has built the connected infrastructure that powers private markets, helping make the industry more efficient, transparent, and accessible. With retail investors reshaping the landscape and the market on track to exceed $60 trillion within a decade, GPs need innovations like JunieAI to keep pace and capture new opportunities.
Bloomberg
3 days ago
- Business
- Bloomberg
Unicorn Juniper Square Sells Picks and Shovels of Private Market Boom
Venture capitalists are betting on a product that's close to their hearts: software for venture capitalists. Juniper Square Inc., a software provider for VCs and other private investors, has raised $130 million in a deal that values the company at $1.1 billion. The new funding round, which the company plans to announce Monday, was led by Ribbit Capital, with participation from Fifth Wall, Redpoint Ventures and others. The cash infusion will go toward expansion, and building out the startup's artificial intelligence capabilities.
Yahoo
14-05-2025
- Automotive
- Yahoo
GDM's Silicon Valley HQ: Powering the Future of Safe Driving
SAN FRANCISCO, CALIFORNIA / / May 14, 2025 / At the start of 2025, Good Driver Mutuality (GDM) embarked on an exciting new chapter in the heart of Silicon Valley. Our office was officially established on Waverley Street in Palo Alto, California - a hub of technological innovation. This exciting milestone marks a fresh chapter for GDM: expanding our repair network, strengthening brand trust, and taking another significant step forward in the U.S. market, following the establishment of our service center office in Virginia. A New Chapter: Silicon Valley and Beyond GDM has secured investments from leading global venture capital firms, including Ribbit Capital and Hedosophia, and - through partnerships with industry leaders - our network has grown to over 5,000 partner repair shops, offering members reliable, cost-effective repair options across the country. Thanks to these achievements, we now have an official home in Silicon Valley. The opening of GDM's Silicon Valley office is a major milestone. This new hub for research, development, and customer support will drive our next wave of growth and innovation. This isn't just about a new office; it marks the beginning of a transformative chapter for GDM and its members. The Stanford Dream: Pioneering Road Safety for Everyone GDM's story began with its founder, William. William is a 15-year accident-free driver frustrated by traditional insurance. "I bought a 14-year-old car, but ended up paying over 20% of its value every year just for insurance." William recalls. A conversation with a friend in the insurance industry revealed a glaring issue: good drivers often subsidize the costs of riskier drivers. Despite spotless accident records, good drivers often see no opportunity for savings on their premiums. When William voiced his frustration, his friend joked, "If you don't like it, why not make a change in your own way?" What started as a casual remark became the foundation of GDM. With his Stanford MBA and entrepreneurial spirit, William turned this idea into reality. We've established a club specifically for safe drivers. Members share the cost of accidents, and those who remain accident-free keep the unused funds, thus lowering their overall expenses. We've developed a mechanism that rewards safe driving behaviors to help reduce accidents and lower costs further. We've also partnered with repair shop associations to secure discounts that will grow as our membership expands, benefiting everyone. These are the fundamental principles behind our design, and positions Good Driver Mutuality uniquely - we're not insurance! A Modern Take on an Ancient Idea The concept of Mutuality is not new. It is a time-tested method of people supporting one another by sharing losses during difficult times. Long before insurance companies or government aid, communities practiced mutual support. When disaster struck - whether it was fires, floods, or illness - neighbors didn't wait for outside help. They pooled resources, labor, and supplies because survival depended on it. This was not charity; it was a way of life that fostered resilience and trust. Historically, mutual support was limited to close-knit communities - like your town, neighborhood, or church. Today, technology expands those boundaries, allowing more people to connect and engage seamlessly. With digital platforms, AI, and real-time connectivity, we can extend that same principle of shared responsibility to a much broader scale. This is where GDM steps in. We are modernizing mutual support, making it smarter, fairer, and more transparent. The foundational values of trust and community remain, but they are now supported by advanced technology that enhances efficiency and accountability. Here's how it works: If a GDM member is involved in an accident, they report it through the Good Driver Mutuality app. If the incident is eligible, it is assigned to one of our certified repair partners. Every Monday, we publish all the relevant details - sharing amounts, incident reports, invoices, and receipts. -to ensure complete transparency for all members. No hidden fees, no fine print - just a clear, fair system where people help one another. This is not insurance. It's something better. It's a community-driven, tech-powered approach to handling repair expenses - designed for safe drivers who believe in fairness, transparency, and mutual responsibility. Of course, these things take time. Helping members save on costs takes time. While GDM is constantly advancing with tech innovation, lean operations, and supply chain optimization, the success of our mutuality model ultimately depends on one thing: our members' commitment to safe driving. At GDM, we see safe driving as more than just a personal choice - it's a shared social responsibility. According to the 2025 Roadmap for Highway and Auto Safety report by Advocates for Highway and Auto Safety, motor vehicle accidents in the United States resulted in a staggering $417 billion in economic losses in 2024 - equivalent to about $1,200 per person in related costs. Moreover, accelerating more slowly can reduce fuel consumption by 10-20%, and avoiding a collision could save you thousands in repair costs. The financial impact, though, is secondary to the far more significant consequence: the loss of human life. According to the National Highway Traffic Safety Administration's (NHTSA) statistics, in 2023, traffic accidents claimed over 40,000 lives in the U.S., or roughly one in every 5,700 drivers. Behind each statistic is a family shattered by tragedy - a tragedy that could have been prevented. At GDM, we believe that through the collective efforts of our members to maintain safe driving habits and encourage others to do the same, these losses can be minimized. If you know responsible drivers, this is the perfect community for them - an exclusive space for safe drivers to save. Research shows that one driver with good habits can influence at least 10 others (family and friends), creating a ripple effect that contributes to safer roads for everyone. The ultimate vision of Good Driver Mutuality is to foster safe driving, reduce accidents, and inspire every member to take responsibility for their own safety, as well as that of their families and communities. Core Values That Drive Us What an entrepreneur believes shapes the values a company is built on. We welcome every good driver who shares these values to join us: · Integrity and Honesty: We believe that integrity and honesty are essential human virtues, and we are fully committed to upholding these principles, rejecting any form of deceit or fraud. This commitment applies not only to the application process for mutuality sharing but also to how we promote our product and in all our interactions with family, partners, and everyone we engage with. · Mutual Support and Kindness: We are a community of good drivers who support one another, always ready to help fellow members who have experienced losses. We're grateful for those who have supported us in our times of need, valuing their trust and kindness. At the same time, we're dedicated to helping new members integrate smoothly into the community, extending the benefits of good driver mutuality to more people we care about. · Responsibility: Every one of us holds a strong sense of responsibility. We prioritize safe driving, work to prevent accidents whenever possible, and take accountability for ourselves, our families, and our communities. Through our dedication to safe driving, we aim to make the world a better place. Additionally, we feel it is our duty to share the importance of safe driving with those we care about. · Embracing Innovation: We see innovation as a catalyst for social progress. Each of us is dedicated to continual learning and skill development, embracing the opportunities and lifestyles technology offers, and taking pride in our personal growth each day. · Benefit others and oneself: We cherish the beautiful aspects of life and take joy in sharing them with others. By promoting mutuality products that benefit our community, we receive the rewards we deserve and take pride in using those rewards to enrich our own lives and those of our families. With these values in mind, William teamed up with resourceful minds to connect with users, understand their needs, and improve the platform. Based on this feedback, consecutive upgrades were made, earning the trust and goodwill of our early users. This is what drives the GDM team to provide better service every day. The Road Ahead We're entering a market valued in the hundreds of billions of dollars. When including the automotive aftermarket industry along with new and used car trading, the potential expands into a trillion-dollar opportunity ripe for transformation. Well-prepared companies and partners are poised to capture this immense opportunity. The opening of our Silicon Valley office is just the beginning. Together, we're building a safer, more connected world for drivers everywhere. Contact Information: contact@ SOURCE: Good Driver View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
