Ravical, an AI-powered platform designed to help accounting and tax firms manage their operations, has secured $17 million in seed funding. The investment will support the company’s efforts to help accounting practices scale their operations without increasing headcount at the same pace.
The funding round was led by MMC Ventures, with participation from existing investors Lakestar and Pitchdrive, alongside new investor Shapers. Ravical plans to use the funding to strengthen its market presence in the UK, Belgium, the Netherlands and Germany, expand further across Europe, and enter the US market.
The investment comes at a time when traditional accounting business models are facing growing challenges. Historically, accounting firms have expanded by hiring more professionals and generating revenue through their expertise. However, demand for accounting and advisory services continues to increase while the supply of new graduates declines and experienced professionals become harder to recruit.
At the same time, artificial intelligence is transforming the accounting industry by automating tasks that previously required human involvement. Access to specialist knowledge is also becoming easier for clients and competitors. According to research conducted by Ravical, 70% of UK small and medium-sized enterprises (SMEs) now follow AI-generated advice without first consulting their accountants.
Ravical believes that accounting firms can stand out through the professional judgement, advisory capabilities and service delivery methods of their most experienced employees. However, this valuable expertise often remains with individual team members rather than being shared across the entire organisation.
To address this challenge, Ravical’s platform captures the working methods and expertise of a firm’s top-performing professionals and converts them into a consistent, shared approach. Its AI technology then applies these practices across the firm’s entire client base, helping accounting teams deliver services more efficiently and consistently.
More than 100 accounting firms across Europe are already using the platform. Ravical was founded by CEO Joris Van Der Gucht, CTO Ken Bastiaensen and CPO Benjamin Vandermarliere. Van Der Gucht previously co-founded Silverfin, a cloud-based platform now used by more than 1,000 accounting firms across 18 countries.
