Pilot’s Valuation Soars To $1.2 Billion In Extended Series C Round

Pilot has extended its Series C funding round to bring in a total of $100 million with further funding from Whale Rock Capital and Bezos Expeditions, becoming a unicorn with a $1.2 billion valuation, according to an announcement from the company.

“That’s $100 million to put toward fixing more areas of the back office, for more companies than ever before. We couldn’t be more excited for what comes next – or grateful to the customers and partners who’ve helped us get here,” Pilot CEO and Co-founder Waseem Daher said in the announcement.

Pilot focuses on bookkeeping, chief financial officer (CFO) and tax services for technology upstarts, according to the announcement. The company’s website says that it “powers the financial back office for startups and small businesses,” adding that “when you work with Pilot, you get a team of finance experts who take the work off your plate – so you can focus on your business.”

Daher, who holds a computer science degree from the Massachusetts Institute of Technology (MIT), is a three-time entrepreneur. Oracle acquired one of his companies, Ksplice, in 2011, while Dropbox purchased another of his companies, Zulip, in 2014.

Bezos Expeditions is the personal investment company of Jeff Bezos, while Whale Rock Capital “is a top $10 billion public fund, with an evergreen mandate,” according to the announcement.

The news comes as PYMNTS reported in January that Pilot had landed $60 million via a new Series C funding round that was led by Sequoia Capital. At the time, it was reported that Pilot would use that infusion to bolster its back-office services to eliminate distractions and help firms concentrate more on business. Pilot has long been working to help small to medium-sized businesses (SMBs) access the types of financial capabilities available to larger firms.

“Through our partnership with Sequoia, we will be able to make the solution of a better back office a reality for more companies than ever,” Daher said at the time.