Announcing our Series B
We are excited to announce that Found has raised $60M in equity financing led by Founders Fund with participation from new investors, Lightspeed Venture Partners and participation from our existing investor, Sequoia Capital. Keith Rabois will be joining the Found Board of Directors, alongside Sequoia’s Alfred Lin.
Over the past year, it has become abundantly clear that the movement to self-employmentis here to stay. Today there are 60M Americans who earn income independently, and by 2027 the majority of Americans will be self-employed.
This movement has been accelerated by COVID, but at its core represents a sustained shift towards flexibility, financial control, and quality of life. We are proud to support these individuals to achieve financial freedom and purpose in their work.
We built Found because we believe self-employed individuals deserve a better tool set. Our goal is to save self-employed people time and money, giving them energy back to do what they truly love: run their business. We are building a seamless foundation for self-employed individuals, from business banking and taxes to bookkeeping and invoicing. Over the past year, our customer base has grown over 20x, across a broad range of business types. We support everyone from photographers and shop owners to ride-share drivers and Etsy creators. We help our customers navigate the unique challenges that come with being self-employed:
- Tax withholding, tax forms and quarterly tax payments
- Tracking business income and expenses
- Maintaining financial reports
- Sending and tracking invoices
We are extremely proud of the progress we have made in the last year. We have added powerful business tools to the Found app, including invoicing and easy business payments. Our customers tell us that we have solved an important problem in their lives, and we consistently garner rave reviews in the app store
. We have grown our team to 40 people, recently adding our COO Nick Adler from The Athletic, Head of Engineering Aabhas Sharma from Uber, and Head of Growth Abbie Hale from Pinterest. With this new funding, we will continue to invest in tools that give self-employed businesses the clarity and confidence they need to be successful. We plan to partner with platforms with large numbers of self-employed people to distribute these tools to those who need them most. We will also continue to grow our team, and are hiring across all functions; come join us!
Thank you to our customers, investors, and supporters. We are just getting started.