About Teal
Teal is a company based in Vancouver (Canada) founded in 2023 by Ian Crosby and Adam Saint was acquired by Mercury in September 2024. It operates as a SaaS (Software-as-a-Service), and B2B2C. Teal has raised $8 million across 1 funding round from investors including Mercury, Torch Capital and Basis Set Ventures. Teal offers products and services including Teal Accounting Suite and Whitelabelled Accounting Services. Teal operates in a competitive market with competitors including NayaOne, Chift, Hyperseed, Intuitive Associates and Taxtronix, among others.
- Headquarter Vancouver, Canada
- Founders Ian Crosby, Adam Saint
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Sectors
Technology
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Phone
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Website
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Social
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- Legal Name Teal Platforms
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Products & Services of Teal
Teal offers a comprehensive portfolio of products and services, including Teal Accounting Suite and Whitelabelled Accounting Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Accounting software is provided for SMB software platforms.
Whitelabelled accounting support is offered for growing businesses.
Funding Insights of Teal
Teal has successfully raised a total of $8M through 1 strategic funding round. The most recent funding activity was a Seed round of $8 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $8.0M
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First Round
First Round
(20 May 2024)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| May, 2024 | Amount | Seed - Teal | Valuation | Torch Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Teal
Teal has secured backing from 5 investors, including venture fund and institutional investors. Prominent investors backing the company include Mercury, Torch Capital and Basis Set Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech-enabled companies are supported through venture capital investments.
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Founded Year | Domain | Location | |
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Early-stage technology investments are managed by Basis Set Ventures.
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Limited information is provided about General Advance's operations.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Teal
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Teal
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Teal Comparisons
Competitors of Teal
Teal operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as NayaOne, Chift, Hyperseed, Intuitive Associates and Taxtronix, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Provider of tools for streamlining POCs, third party tech evaluations and synthetic data access
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| domain | founded_year | HQ Location |
API-based application development platform
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| domain | founded_year | HQ Location |
Offers a no-code application development platform for finance professionals.
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| domain | founded_year | HQ Location |
Develops custom software for financial planning, accounting, taxes, and insurance services.
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| domain | founded_year | HQ Location |
Offers tax preparation, payroll management, business incorporation, and client support services.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Teal
Frequently Asked Questions about Teal
When was Teal founded?
Teal was founded in 2023 and raised its 1st funding round 1 year after it was founded.
Where is Teal located?
Teal is headquartered in Vancouver, Canada. It is registered at Vancouver, British Columbia, Canada.
Who is the current CEO of Teal?
Ian Crosby is the current CEO of Teal. They have also founded this company.
Is Teal a funded company?
Teal is a funded company, having raised a total of $8M across 1 funding round to date. The company's 1st funding round was a Seed of $8M, raised on May 20, 2024.
What does Teal do?
Teal is engaged in developing accounting software tailored for SMB software companies. Solutions are provided to integrate financial hubs within platforms, enhancing customer engagement with financial services. The company offers rapid implementation through modular code snippets and live support. Additionally, whitelabelled accounting services such as bookkeeping and tax filing are facilitated through a partner network. The technology sector, specifically financial software, is primarily targeted to support business operations and growth.
What products or services does Teal offer?
Teal offers Teal Accounting Suite and Whitelabelled Accounting Services.
Who are Teal's investors?
Teal has 5 investors. Key investors include Mercury, Torch Capital, Basis Set Ventures, General Advance, and Dash Fund.
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