Google-owned AI fund Gradient Ventures has participated in a $50 million Series A fundraise for Collective, the AI-powered platform for freelance workers.

Serving ‘solopreneurs’, the San Francisco-headquartered startup provides business formation services, S-election, payroll, tax, and bookkeeping services for one-person businesses and a personal dashboard to manage their finances.

In providing its service, Collective uses technologies such as large language models which help build AI ‘copilots’ to support its team of tax experts, accountants, bookkeepers, and relationship managers. The company said its professionals can use these copilots to whittle down the time they spend on tasks such as bank reconciliation and expense categorisation, freeing them up to focus on other business activities.

Other investors that participated in the round included Innovius Capital, General Catalyst, QED, and Hollywood actor Ashton Kutcher.

Collective’s chief executive and co-founder Hooman Radfar said Collective would use the funding to accelerate the use of AI in its operations.

“We need to continue to build the platform and scale our operations to handle the demand,” he said. “The space is growing quite dramatically.”

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