Amex Ventures, the venture arm of American Express, has made an undisclosed investment in Lockstep, a Seattle startup using software and the cloud to improve accounting practices. It follows a $10 million Series A round raised in February. Founded in 2019, Lockstep’s “connected accounting” uses email automation and accounting-specific inboxes for accounts receivable and accounts payable teams, helping to eliminate the cash traps and cash leaks that occur through the human handling of company books. The 70-person startup has doubled headcount in six months and plans to grow to 140 people by next year. Total funding to date is $17 million. Lockstep is led by co-founder and CEO Peter Horadan, who was previously previously EVP of engineering and CTO at tax automation company Avalara.

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