Hubdoc raises $6.4 mln in BDC, Round13-led seed round

Toronto cloud accounting platform Hubdoc Inc has secured about $6.4 million (US$4.85 million) in a seed-stage financing. The round was led by Canadian venture capital firms BDC Capital and Round13 Capital and joined by Hyde Park Venture Partners and other investors. Founded in 2011, Hubdoc has developed an accounting application that uses cloud computing and machine learning to collect and analyze documents for financial reporting, reconciliation and audit proofing. It will use the funds raised to scale growth globally, accelerate innovation and hire new team members. Hubdoc is led by co-CEOs Jamie Shulman and Jamie McDonald.

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