About Teal
Teal is a Technology company based in Vancouver (Canada) founded in 2023 by Ian Crosby and Adam Saint, and was acquired by Mercury in September 2024. Teal is focused on building accounting solutions for SMB software companies. It operates on a SaaS (Software-as-a-Service) and B2B2C model. Teal has raised $8 million across 1 funding round from investors including Mercury, Torch Capital and Basis Set Ventures. Its chief executive, as recorded, is Ian Crosby. Teal offers products and services including Teal Accounting Suite and Whitelabelled Accounting Services. Its focus areas include Software and Financial Software. Its legal entity is Teal Platforms.
Company details
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.
Products & Services of Teal
Teal offers a comprehensive portfolio of products and services, including Teal Accounting Suite and Whitelabelled Accounting Services.
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 $8M
- Total Rounds 1
- Last Round Seed — $8M
- First Round $8M
(May 2024)
- Investors Count 4
All 1 funding rounds of Teal with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2024 | $8M | Seed | – | Torch Capital |
5 investors in total: 5 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Tech-enabled companies are supported through venture capital investments. | torchcapital.vc | New York, United States | ||
Early-stage technology investments are managed by Basis Set Ventures. | basisset.com | San Francisco, United States | ||
Limited information is provided about General Advance's operations. | generaladvance.com | |||
Dash Fund is focused on backing FinTech startups. | dashfund.co | San Francisco, United States | ||
Online business banking and financial workflow tools are provided. | 2010 | mercury.com | San Francisco, United States |
Investor details for Teal
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Teal
2 people are tracked at Teal (2 in leadership).
| Name | Role | Group |
|---|---|---|
Ian Crosby | Co-Founder & CEO | Leadership |
Adam Saint | Co-Founder | Leadership |
Complete people profiles for Teal
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Teal
3 dated milestones of Teal across 1 years, from founding to its latest funding, stage changes and deals.
- Founded Teal is founded.
- Funding First funding round of $8.0M.
- Exit Acquired by Mercury.
Web traffic of Teal
The website of Teal (teal.dev) receives about 2.7K visits a month.
- Monthly visits2.7K
▼ 70.8% vs previous month
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Frequently Asked Questions about Teal
Teal was founded in 2023 and raised its 1st funding round 1 year after it was founded.
Teal is headquartered in Vancouver, Canada. It is registered at Vancouver, British Columbia, Canada.
Ian Crosby is the CEO of Teal, as recorded in our data. They have also founded this 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 2024.
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.
Teal offers Teal Accounting Suite and Whitelabelled Accounting Services.
Teal has 5 investors. Key investors include Mercury, Torch Capital, Basis Set Ventures, General Advance, and Dash Fund.
Teal operates through Teal Platforms.
Yes. Teal was acquired by Mercury in September 2024.