Dougs Raises $27 Million After 8 Years Of Growth

Even with startup funding hard to come by, those who are lucky enough to secure cash generally do so early in their lifespan. But that's not always the case. 

Dougs, a well-known French accounting startup, launched in 2015. Even with roughly $16.4 million in annual recurring revenue and 14,000 clients, the company was fully bootstrapped. That's all changed now that the company has secured $27 million from British venture capital (VC) firm Expedition Growth Capital.

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What Is Dougs?

Dougs is a comprehensive online chartered accountant service tailored for small to medium-sized enterprises. The platform efficiently manages financial statements and produces certified tax filings. 

The company employs a team of chartered accountants, legal experts, HR professionals and others behind the scenes. The firm also has developed its proprietary accounting application to enhance interactions between its internal team and its clients.

The innovative platform allows clients to link their bank accounts directly to Dougs. The integration enables the system to automatically fetch transaction data. 

Through a user-friendly customer portal, clients can upload various documents, including receipts and more. The platform also offers services for expense reports and invoices, offering users an in-depth view of their company's revenue across different timelines — past, present and projected.

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Dougs offers additional value by aiding the incorporation process and managing client payroll. It extends its services to provide legal advice when necessary. Essentially, Dougs assumes all the typical responsibilities of an accountant, encapsulating these functions on its digital platform.

Dougs has 250 employees. With the infusion of fresh capital from the recent funding round, it aims to scale its operations and double its team size by 2025. 

Moving forward, Dougs has ambitions of expanding its services into new markets, including Germany and the United Kingdom.

Dougs' story is proof that startups don't have to secure funding in their infancy to make waves. Slow and steady can win the race, and for Dougs, that meant waiting eight years before their record $27 million venture capital raise to accelerate future growth. 

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