Intuit buys London AI billing startup Sequence in a deal reportedly worth about $200M

Intuit announced on October 15 that it signed an agreement to acquire Sequence, a Series A company founded in 2021 with offices in London and New York. The companies did not disclose terms, but The Times reported a price near $200M, per Tech.eu. Sequence has raised around $40M from backers including Andreessen Horowitz, Passion Capital, firstminute capital and 645 Ventures. CEO Riya Grover is reported to hold more than 45 percent. No closing date was given. Sequence uses AI agents to automate quote-to-revenue work: contract setup, pricing, usage-based billing, invoicing, collections and revenue recognition. Its customers include AI companies such as Legora and Cognition. Intuit plans to fold it into Intuit Enterprise Suite and QuickBooks Online Advanced to move further into mid-market ERP. For founders selling usage-based or hybrid AI pricing, billing is now a category incumbents will pay for. Buyers want metering and revenue recognition handled natively, and a roughly $200M outcome for a Series A startup shows the price of owning that layer. Competing AI billing startups now face a better-resourced Intuit.