Intuit has acquired the British AI start-up Sequence for an estimated $200 million, according to a source close to the deal.
Sequence, founded in 2021, is a business-to-business revenue management and billing platform. Riya Grover, who co-founded the company and holds over a 45 per cent stake, is expected to make tens of millions of dollars from the sale. This acquisition marks one of the largest exits by a UK artificial intelligence start-up led by a female co-founder.
"Revenue management has long been the most fragmented workflow in the back office. As businesses adopt usage-based and hybrid pricing, that complexity is only growing," said Grover, 38.
"We built Sequence to automate the entire process, from contract to revenue recognition, with AI agents automating daily tasks and working securely alongside finance teams. With Intuit’s platform and reach, and our shared alignment on serving mid-market businesses and creating AI-driven financial workflows, this is a natural fit for both companies."
Grover co-founded Sequence with Eamon Jubbawy, 34, who previously co-founded Onfido, an ID verification software provider that was acquired by a US group in 2024 for $650 million. Jubbawy owns more than a 15 per cent stake in Sequence.
Grover and Jubbawy established the company after observing the significant costs businesses incurred in building their own billing systems.
Other notable UK AI software acquisitions include Darktrace, acquired by Thoma Bravo in October 2024 for $5.3 billion, and Faculty AI, sold to Accenture this year for a reported $1 billion.
The acquisition will provide Intuit with a single platform for mid-market businesses and their accounting firms, enabling the Nasdaq-listed company to enter new industries such as business-to-business software and professional services.
Sequence employees, including Grover, will join Intuit's mid-market product organization as part of the acquisition.
In 2022, Sequence raised $19 million in its initial funding round, supported by venture capital firm Andreessen Horowitz.
Grover's previous software business, Feedr, was sold to Compass, the global catering group, in 2020 for a reported $24 million.
Research from The ScaleUp Institute indicates a significant rise in female founders, with 333 women having built businesses with revenues exceeding £50 million, up from 80 two years ago. This trend has led to the declaration that "we are in the decade of the female founder."
