AI startup Ravical bags £12m to power accountancy’s private equity boom

AI startup Ravical, serving accounting and tax firms, has raised over £12m in its latest seed round as it positions itself as the tech infrastructure for the sector s current wave of private equity roll-ups. The tech business secured £12.75m in a funding round led by European venture capital firm MMC, City AM can reveal, along with Lakestar, Pitchdrive Shapers, bringing its total funding raised to $25m (£18.7m) in its first year. Ravical has over 100 European accounting firms using the platform and plans to strengthen its position in the UK, Belgium, the Netherlands and Germany, continue its roll-out across the rest of Europe and plans to enter the US market. It targets mid-tier accountancy firms and private equity-backed consolidators, pitching its software as a way to sever the traditional link between revenue growth and headcount. Private equity activity has been surging in the accountancy sector over the last couple of years, with external funders buying big names such