About CFO Stack sector in San Francisco, United States
The CFO Stack sector in San Francisco, United States comprises 449 companies, including 273 funded companies having collectively raised $16.3B in venture capital money and private equity. Out of these, 152 are Series A+ funded, and 8 have achieved unicorn status.
CFO Stack sector in San Francisco, United States has seen 55 acquisitions and 1 IPO. This represents almost 12.5% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes a collection of specialized tools and necessary systems/software that enable finance teams to effectively handle their daily tasks.
CFO Stack sector is also known as Tech Stack for Office of the CFO.
It includes software to automate major functions in CFO office like Financial Planning and Analysis, Budgeting, forecasting, treasury management, accounting, etc. It excludes all the Non-financial tools that do not integrate seamlessly with financial operations,.
Top CFO Stack Companies in San Francisco, United States
There are 449 CFO Stack startups in San Francisco, United States which include Gusto, Carta, Modern Treasury, Taulia, Recurly. Out of these, 273 startups are funded, with 152 having secured Series A+ funding, and 8 achieving unicorn status.
Over the past 10 years, an average of 28 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Stanford University, University of California (Berkeley) and Harvard University.
Here is the list of top CFO Stack startups in San Francisco, United States
1. Gusto
Provider of a cloud-based platform offering payroll, benefits, and HR solutions. It is a SaaS-based platform offering payroll, benefits, and human resource management solutions for growing businesses, aiming to simplify complex tasks for its clients.
Key facts about Gusto
- Founded Year: 2012
- Location: San Francisco (United States)
- Stage: Series E
- Total Funding till date: $718M
- Investors: CapitalG, T. Rowe Price and 81 Others
- Latest Funding Round: Series E, May 13, 2022, $*****
- Tracxn Score: 86/100 What is this?
- Competitors Rank: 1 of 2,355 Competitors
2. Carta
Software-based equity management solutions. It offers features solutions for valuation, equity planning, transfer agents, electronic securities, scenario modeling, fund administration, portfolio data collection, and more. It offers solutions to multiple sectors including private companies, investors, and public companies. It also offers ESOP management solutions.
Key facts about Carta
- Founded Year: 2012
- Location: San Francisco (United States)
- Stage: Series G
- Total Funding till date: $1.16B
- Investors: Menlo Ventures, Kima Ventures and 132 Others
- Latest Funding Round: Series G, Aug 13, 2021, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 1 of 90 Competitors
Diversified payment processing and treasury management solutions for businesses. It offers a cloud-based payment platform that enables businesses to accept and send online payments. It also offers notifications of real-time changes with webhooks, including ACH returns or failures, bank integrations, payment reconciliation solutions, financial data management, and more.
Key facts about Modern Treasury
- Founded Year: 2018
- Location: San Francisco (United States)
- Stage: Series C
- Total Funding till date: $183M
- Investors: Altimeter Capital, SVB and 13 Others
- Latest Funding Round: Series C, Mar 30, 2022, $*****
- Tracxn Score: 75/100 What is this?
- Competitors Rank: 8 of 1,858 Competitors
4. Taulia
AI-based electronic invoicing and supply chain management solution for businesses. It features solutions to provide dynamic discounting, supply chain finance, cash forecasting, invoice automation, supplier management, and more. It offers a web-based invoice management solution that allows you to choose an early payment option using their working capital or third-party funds.
Key facts about Taulia
- Founded Year: 2009
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $220M
- Investors: Trinity Ventures, Zouk Capital and 25 Others
- Latest Funding Round: Conventional Debt, Mar 11, 2021, $*****
- Tracxn Score: 75/100 What is this?
- Competitors Rank: 1 of 538 Competitors
5. Recurly
Subscription billing automation for businesses. It offers solutions for subscription management, payment optimization, billing and accounting, subscriber retention, security and compliance, analytics and insights, revenue optimization, and more. Its subscription is categorized into the core, professional and elite plans based on the requirement and offerings.
Key facts about Recurly
- Founded Year: 2009
- Location: San Francisco (United States)
- Stage: Series C
- Total Funding till date: $39.2M
- Investors: F-Prime Capital, Polaris Partners and 11 Others
- Latest Funding Round: Series C, Aug 12, 2020, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 2 of 99 Competitors
Companies founded year-on-year in the CFO Stack sector in San Francisco
43 CFO Stack startups in San Francisco were founded in 2023 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | 11 |
2024 | 30 |
2023 | 43 |
2022 | 33 |
2021 | 31 |
2020 | 32 |
2019 | 36 |
2018 | 23 |
2017 | 16 |
2016 | 26 |
Stage-wise distribution of CFO Stack sector companies in San Francisco
Out of the total 449 CFO Stack companies in San Francisco, 273 have secured funding. Among them, 152 have reached Series A or higher, and 102 to Series B or beyond.
Founded - 449
Funded - 273
Series A+ - 152
Series B+ - 102
Series C+ - 73
Company Stage | No. of companies |
|---|---|
Founded | 449 |
Funded | 273 |
Series A+ | 152 |
Series B+ | 102 |
Series C+ | 73 |
Let us walk you through our Sectors and other offerings
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Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the CFO Stack sector in San Francisco
Total funding year-on-year in the CFO Stack sector in San Francisco
The CFO Stack sector in San Francisco saw a total funding of more than $14.8B in the last 10 years. The most amount of funding was in 2021 at more than $8.17B.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $838M |
2024 | $723M |
2023 | $1.16B |
2022 | $1.26B |
2021 | $8.17B |
2020 | $718M |
2019 | $695M |
2018 | $680M |
2017 | $191M |
Recent Funding Rounds in CFO Stack in San Francisco
In the year 2025, till December 2025, CFO Stack companies in San Francisco have raised $838M in equity funding across 53 rounds.
In the same period last year (i.e. till December 2024), CFO Stack companies in San Francisco had raised $723M across 48 rounds.
So, 2025 has seen a 15.88% rise in funding in CFO Stack companies in San Francisco as compared to 2024.
Here are some recent, important funding rounds in CFO Stack companies in San Francisco:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 9098 | Dec 22, 2025 | - | |
Seed | 5151 | Dec 18, 2025 | and 3 more | |
Seed | 3667 | Dec 10, 2025 | ||
Series A | 6371 | Dec 05, 2025 | ||
Seed | 3092 | Nov 25, 2025 | and 3 more |
Top Investors in CFO Stack in San Francisco
500 Global is the top investor in CFO Stack companies in San Francisco based on number of companies invested.
Here are some top investors in CFO Stack companies in San Francisco:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Ho Chi Minh City (Vietnam) | ||
Palo Alto (United States) | ||
Cambridge (United States) | ||
Redwood City (United States) | ||
San Francisco (United States) |
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M&A activity in CFO Stack sector in San Francisco
In the year 2025, till November 2025, 6 acquisitions happened in CFO Stack sector in San Francisco. Last year, in 2024, a total of 7 acquisitions happened in CFO Stack sector in San Francisco.
Here are some recent, important acquisitions in CFO Stack sector in San Francisco:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Nov 07, 2025 | ||
Business Acquisition | Oct 29, 2025 | ||
Business Acquisition | Aug 19, 2025 | ||
Business Acquisition | Jul 2025 | ||
Business Acquisition | Feb 19, 2025 |
Acquisition trends in CFO Stack sector in San Francisco
Here are the acquisition trends in CFO Stack sector in San Francisco:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 6 |
2024 | 7 |
2023 | 2 |
2022 | 5 |
2021 | 7 |
2020 | 4 |
2019 | 7 |
2018 | - |
2017 | 5 |
IPOs in CFO Stack in San Francisco
In the year 2021, till November 2021, 1 IPO happened in CFO Stack sector in San Francisco.
Here are some recent, important IPOs in CFO Stack sector in San Francisco:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Nov 10, 2021 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Oct 12, 2018 | New York Stock Exchange (NYSE) |
Colleges which produce the most CFO Stack companies in San Francisco
Companies founded by alumni from top colleges in the CFO Stack in San Francisco
Most number of CFO Stack startups in San Francisco have been founded by alumni from Stanford University, University of California (Berkeley) and Harvard University.
College | No. of companies |
|---|---|
Stanford University | 41 |
University of California (Berkeley) | 20 |
Harvard University | 17 |
Massachusetts Institute of Technology | 16 |
University of Pennsylvania | 15 |
Harvard Business School | 10 |
Stanford Business School | 9 |
Cornell University | 8 |
University of California (Los Angeles) | 8 |
Wharton School | 8 |
Total funding in CFO Stack companies founded by alumni from top colleges in San Francisco
In the last 10 years, INSEAD graduates' CFO Stack companies in San Francisco have raised the most funding among top colleges. Stanford University alumni are second, and University of California (Berkeley) alumni are third.
College | Total Funding |
|---|---|
INSEAD | $6.22B |
Stanford University | $3.27B |
University of California (Berkeley) | $1.18B |
Carnegie Mellon University | $1.16B |
Technion Israel Institute Technology | $965M |
Harvard University | $789M |
Wharton School | $743M |
Massachusetts Institute of Technology | $483M |
Imperial College London | $476M |
University of Oxford | $438M |
Top News in CFO Stack in San Francisco
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SAP Taulia becomes first fintech to launch Supply Chain Finance SPV in ItalyGlobal Legal Chronicle•Nov 26, 2025•Taulia
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American Express Expands Virtual Card Partnership with EmbursePYMNTS.com•Nov 07, 2025•Emburse, American Express
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Emburse Recognized with IDC 2025 SaaS CSAT Award for Customer Satisfaction in Travel ExpenseBusiness Wire•Sep 25, 2025•Emburse
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Venture Capitalists Cautiously Optimistic for Startups Raising Funds in Private MarketsCrowdfund Insider•Aug 24, 2025•Carta
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Coborn's teams with DIGITS to launch retail media network in 2025Retail Technology Innovation Hub•Jul 11, 2025•Coborn’s, Digits
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SAP Taulia partners with PayMate for improved business payments
The Paypers•Jun 23, 2025•Taulia, PayMate
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Firstup Appoints Bill Schuh as CEO for Growth; Nicole Alvino to ChairwomanPR Newswire•Jun 18, 2025•Firstup, Anaplan
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Aria Systems to Unveil AI-Powered Usage Monetization Engine Aria Allegro at DTW Ignite 2025Global FinTech Series•Jun 11, 2025•Aria
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Gusto Partners with Elevate to Enhance Consumer Benefit Account OfferingsPR Newswire•Jun 11, 2025•Elevate, Gusto
