Tax platform Heru lands $6 million seed round led by Google’s AI fund

AI-based tax platform Heru has raised a $6 million seed round led by Gradient Ventures, Google’s AI-focused venture fund. The round was followed by SOMA Capital, GFC, Moving Capital and Mike Shoemaker, COO of Roofstock, along with continued support from Flourish Ventures and Magma Partners.

Heru leverages AI to automate thousands of rules and streamline the entire tax filing, withholding, and reporting process. The company’s technology provides clients with better financial planning tools and a holistic view of the potential impact of each financial transaction on their taxes. Heru offers a front-end solution and built-in integration for enterprise or enterprise.

“While integrating integrated financial solutions into industries like banking and payments is not a new concept, Latin America is about to witness a new wave of tax innovation. I am really excited to build Heru on the cusp of this technological revolution,” said Mateo Jaramillo, CEO and co-founder of Heru. “We are empowering individuals and businesses with critical financial planning tools so they can stay up to date on evolving regulations and make more informed financial decisions. We believe that this technology is essential to reduce financial inequality in Latin America.”

Heru will use its capital to expand its product suite and improve its core tax automation technology for both its end customers and business partners such as Uber, Rappi, UberEats, Mercado Envios Extra (Mercado Libre), Cornershop, Beat, among others.

“Latin America’s gig economy is undergoing a massive transformation, accelerated by recent regulations and emerging payment technologies,” said Zachary Bratun-Glennon, a partner at Google’s Gradient Ventures. “Heru is in a unique position to capitalize on this opportunity and we look forward to supporting Mateo, Stiven and his team along the way.”

The Mexican platform was co-founded by Mateo Jaramillo and Stiven Rodríguez in 2019, and raised a pre-seed round of $1.7 million in December 2020.

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