Multiplier has raised $35 million in Series B funding to expand its AI-powered professional services platform. The round was led by The General Partnership, with participation from existing investors Ribbit Capital and Lightspeed Venture Partners. The capital will fund additional acquisitions of specialist professional services firms and support the growth of the company’s technology and operations teams as demand for AI-enabled business services increases.
Multiplier operates a permanent holding company model. It acquires existing firms but allows them to retain their names, management teams, and significant autonomy. Rather than replacing professionals with artificial intelligence, the company builds AI-powered products designed to boost efficiency and improve client service. Founder and Chief Executive Noah Pepper has argued that AI should empower working professionals, not displace them. In a company blog post, he said AI tools enable practitioners to allocate time to judgment-based work while automating menial tasks.
The company embeds its engineering teams directly within acquired firms and employs more than 30 technologists who collaborate with subject matter experts to develop AI tools tailored to specific business needs. Because the acquired businesses are not solely owned by third-party software providers, Multiplier’s teams gain access to customer and supplier databases, as well as direct visibility into products and processes. The model targets industries where expert capacity constrains growth, such as accounting and other professional services that rely heavily on experienced practitioners and manage information across disconnected systems. Multiplier believes AI can automate preparation and routine tasks while leaving final decisions to qualified professionals.
Since its launch, Multiplier has completed eight acquisitions, five of which closed in the past year. Four additional firms are under signed term sheets. Together, its network now serves clients in more than 10 countries.
The funding coincides with a significant executive appointment. Allen Shim, former chief financial officer of Slack, has joined Multiplier as President and Chief Financial Officer. He will oversee finance, operations, partnerships, people, and the company’s expanding San Francisco office. Shim previously guided Slack through its initial public offering before its acquisition by Salesforce. The company said his experience will help build scalable technology, people, and operational process architecture.
The General Partnership noted that accounting and other professional services markets continue to face capacity challenges despite growing demand. The investment firm believes Multiplier’s approach enables trusted professionals to serve more clients without reducing service quality.
Multiplier’s investment strategy differs from traditional buy-and-build models that typically replace founders after acquisition. Instead, founders remain in senior leadership positions while receiving long-term capital and operational management expertise. The new capital will primarily fund further acquisitions and continued development of proprietary AI solutions, positioning the company to grow its specialist firms and enhance its technological capabilities.
