Collective raises $100M to run finances for one-person businesses

San Francisco startup Collective has raised $100M, split between a $40M Series B and $60M from General Catalyst's Customer Value Fund. The service handles bookkeeping, payroll, taxes and insurance for freelancers and solo founders, with AI answering half of support requests. Collective says it is growing 127% a year and has saved members about $350M in taxes.

• The $40M Series B was led by General Catalyst, QED Investors and Gradient Ventures
• Another $60M came from Customer Value Fund, which covers customer acquisition costs
• Collective is growing 127% a year and has saved members about $350M in taxes
• AI handles half of all support requests without a human