# Tola

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tola

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.usetola.com
- Total disclosed funding: $10M
- Latest round: Seed (Oct 20, 2024)
- Investors on record: 9

## About

Founded in 2022 and based in California, US Tola Inc. operates as a software company that focuses on providing financial management solutions. The company was founded by its CEO, Alen Cvisic and Guillaume Simard. In October 2024, Tola Inc. raised USD 10.2 million in seed funding led by Sequoia Capital, Cherry Ventures, Creandum, RTP Global, Founders, Y Combinator, Zinal Growth, and Exponent Founders Capital.

Tola offers a suite of financial management tools focused on accounts payable (AP), accounts receivable (AR), and cash flow management. Their core products include features such as automatic bill capture, which allows users to upload vendor invoices in PDF format and extract key details. The platform integrates with accounting software like Quickbooks and Xero, facilitating accounting sync to reconcile business bills and vendor payments. Clients can track their cash flow with a centralized overview of all incoming, pending, and outgoing payments, while approval workflows enable teams to establish payment authority rules. The service is designed to appeal to small to medium-sized businesses across various industries, including retail and services, and is marketed primarily in North America.

The company generates revenue by offering its services on a subscription-based pricing plan. The plans include starter, basic (USD 35/month), and pro (USD 70/month).

The company plans to utilize the October 2024 funding raised to expand its customer base and enhance its product offerings.

## Funding rounds

- Seed, Oct 20, 2024, $10M — Hong Shan, Creandum, Y Combinator, RTP Global, Cherry Ventures, Founders, Halo Labs Inc., Zinal Growth, Exponent Founders Capital

## Investors

- Hong Shan — Seed
- Creandum (https://capitalatlas.ai/funds/creandum) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- RTP Global (https://capitalatlas.ai/funds/rtp-global) — Seed
- Cherry Ventures (https://capitalatlas.ai/funds/cherry-ventures) — Seed
- Founders (https://capitalatlas.ai/funds/founders) — Seed
- Halo Labs Inc. — Seed
- Zinal Growth — Seed
- Exponent Founders Capital — Seed