Sequoia-Backed Pennylane Eyes Funding at $4.3 Billion Valuation

Pennylane, a French startup that sells accounting software, is in talks for a potential investment at a $4.25 billion valuation, nearly double what it was valued at in a round just seven months ago, according to people familiar with the matter.

The company, which has backing from Sequoia Capital and Alphabet Inc.’s growth fund CapitalG, is discussing an investment of $200 million led by TCV, a California-based crossover fund, the people said. Sequoia would also contribute to the new round, said the people, who asked not to be identified because the talks are private.

Representatives for ...