In late 2022, Noah Pepper, a former Stripe business lead for the Asia Pacific region, founded Multiplier, a startup that aimed to sell software to tax accountants. But soon after ChatGPT was released, it occurred to him that AI can change how professional service firms use technology. It quickly became apparent that the strategy was working. By eliminating manual work, Multiplier's AI tools helped Citrine more than double its profit margins. So, Pepper decided that instead of building software for accounting firms, Multiplier would acquire existing professional service businesses and outfit them with its AI solution. Today, Multiplier, which is now called Multiplier Holdings, is announcing that it raised a total of $27.5 million in seed and Series A financing. Lightspeed Venture Partners led the Series A funding round for the startup, following Multiplier's seed round, which was led by Ribbit Capital with participation from SV Angel. Multiplier is part of a growing trend: startups...
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