Stuut Reports $52.5 Million Round as SEC Filing Shows $67.6 Million Sale

Stuut reported a $52.5 million Series B round, while a Securities and Exchange Commission filing shows the company sold $67.6 million in equity in a transaction with different disclosed details.

Stuut said Insight Partners led the financing, with participation from Andreessen Horowitz and Microsoft’s M12. The company said the round brought its total funding to $93 million.

A Form D filed with the SEC on Sept. 16 reports $67,597,673 in equity sold to 11 investors. The offering was fully sold, with $0 remaining, and the filing records the first sale on Sept. 3.

The filing identifies the securities as equity issued under Rule 506(b). It does not name the investors, describe the transaction as a Series B or disclose a valuation. The two financing figures remain unreconciled.

Stuut develops software for the order-to-cash process, automating collections, cash application, payments, disputes and deductions across enterprise resource planning systems. Its platform integrates with Microsoft Dynamics 365, SAP, Oracle and NetSuite.

“AI should not give finance teams another dashboard to manage. It should automate 100% of the work for your Tier 3 customers, freeing teams to focus on higher-value, more complex accounts,” co-founder and CEO Tarek Alaruri said.

Stuut said its customers increased cash flow by 40%, reduced days sales outstanding by 47% and eliminated 70% of manual accounts-receivable work.

The company announced on Sept. 2 that M12 had invested in Stuut as the software became available through Microsoft Marketplace and Stuut joined the Microsoft for Startups Pegasus program.

“M12’s investment is powerful validation, but the bigger unlock is distribution,” Alaruri said.