India-based SaaS accounting platform HostBooks has raised $5 million from Orange Orbit LLP as part of its ongoing $15 million Series B funding round. This follows an earlier disbursement of $2.5 million during the round.
HostBooks plans to leverage the fresh funding to enhance its AI-driven product offerings, expand its global footprint, and scale its sales, marketing, and operations teams to meet increasing demand.
Founded in 2009 by Kapil Rana, HostBooks provides cloud-based accounting solutions aimed at helping businesses manage compliance, finance, and operational challenges. The company integrates AI and machine learning to improve operational efficiency and control, positioning itself as a comprehensive platform for accounting and financial management.
By combining automation and advanced analytics, HostBooks addresses critical pain points for businesses looking to streamline accounting processes and remain compliant with regulations. The investment signals strong confidence in the company’s technology-driven approach to modernizing accounting systems.
With this funding, HostBooks aims to accelerate its product development and strengthen its position in the global SaaS accounting market.
