News Summary

Multiplier, a startup founded in late 2022 by Noah Pepper, a former Stripe executive, has secured $27.5 million in seed and Series A funding. The funding rounds were led by Lightspeed Venture Partners and Ribbit Capital, with participation from SV Angel. Multiplier aims to transform the accounting industry by acquiring existing service businesses and enhancing them with AI solutions. This strategy has already proven effective; after acquiring Citrine International Tax, Multiplier’s AI tools more than doubled the firm’s profit margins. The company plans to expand its offerings to rival the Big Four accounting firms by continuing to purchase high-recurring-revenue service firms and integrating AI to boost their operations.