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After bootstrapping for 8 years, accounting startup Dougs raises $27 million

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Dougs, a French accounting startup, has been around since 2015. It already generates $16.4 million (€15 million) in annual recurring revenue. And it’s a bootstrapped company, meaning that it hasn’t opened its capital and raised any funding from VC firms. But now, the company has decided to raise its first founding round.

Dougs raised $27 million (€25 million) from Expedition Growth Capital, a British VC firm that is looking for investment opportunities in bootstrapped companies that have reached a certain level of maturity. And Dougs seems to fit the bill quite well as the company has 14,000 clients and is already profitable.

At its core, Dougs is an online chartered accountant service for small and medium companies. It handles your financial statements and generates certified tax filings. Behind the scenes, Dougs works with chartered accountants, legal experts, HR professionals, etc. But the company has also designed its own accounting application to improve the relationship between the Dougs team and its clients.

In particular, clients can connect Dougs with their…

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