How an AI Company Prepares for Fundraising with Digits
Thoughtly helps businesses build and deploy human-like AI voice agents in just 17 minutes. Like many founders, Torrey is an engineer who started a company to build products, not to do finances.
Thoughtly needed accurate accounting to enhance their cash flow forecasting, crucial for presenting to investors in an upcoming fundraising round.
Digits Impact TL;DR:
- Improved cashflow forecasting
- Shared financial understanding with co-founder
- Clarity on where the company was spending
The problem: it’s hard to tell the difference between all these “AI accounting startups”
Before Digits, Torrey experimented with several "ai accounting startups," many from YCombinator's recent cohorts. Their sales pitches sounded similar—they all promised QuickBooks setup, a proprietary platform, and tax assistance. However, these solutions fell short of expectations. The data was frequently inaccurate and failed to address Torrey's specific questions. While they all offered self-serve and AI capabilities, their execution of these claims left much to be desired.
After exhausting these options, Torrey sought advice from his investor, Afore, who recommended Digits.
The solution: Digits ai-powered accounting
Onboarding was easy for Thoughtly. They connected their existing bank and credit accounts, and were even able to link their treasury accounts well after onboarding. The entire process, including connecting Stripe, took just five minutes.
Beautiful financials
Thoughtly received its first accountant-verified report in a couple of weeks.
This is what I’ve been looking for. This is an accounting team. Now I can understand what I want out of a modern accounting solution — I don’t want to look at all the transactions and categorize everything myself. I want to look at a balance sheet that has been reconciled and verified.
Real-time runway
Before Digits, Torrey struggled to track his team's marketing spend accurately. QuickBooks proved unreliable, while Brex and Mercury offered only partial insights. It wasn't until Digits comprehensively categorized Thoughtly's transactions that they gained a true understanding of their financial landscape.
It was eye-opening for Torrey and his co-founder to observe the impact of their key decisions — such as closing sales and making hires — on their runway metric in Digits in real time.
This is exactly what we and other founders need.
Digits has empowered Thoughtly with the tools and experts needed to navigate its finances with confidence. Are you ready to upgrade your accounting to Digits for complete peace of mind? Book a demo with our team today.
Switch to Digits today
Experience accounting, reimagined.
