Argilla is a Spanish artificial intelligence startup specialized in collaborative tools for natural language processing. Its open source platform enables teams to create and improve high-quality datasets for training AI models, and was used by international companies before its acquisition by Hugging Face in 2024.
| Startup | Argilla |
| Sector | SaaS · Artificial intelligence · Open source NLP |
| Founded | Madrid · Spain |
| Stage | Seed · international acquisition |
| TSCFO services | External CFO · Accounting |
| Main challenge | Organizing the finance function after a funding round and preparing the company for a potential transaction |
| Solution | Monthly closings · investor reporting · accounting · due diligence · financial coordination |
| Key result | Acquisition by Hugging Face in 2024 |
— 01 · STARTING POINT
From funding round to financial order
Argilla started working with The Startup CFO in October 2022, shortly after closing a €1.5M round led by Caixa Capital Risc and Zetta Venture Partners.
At that time, the company was focused on improving its open source NLP platform, launching Argilla Cloud and moving from early commercial traction toward a more scalable structure.
The challenge was clear: outsourcing accounting, adding external CFO support and building an organized financial base that could provide visibility to investors, control burn and support the next stages of growth.
— 02 · WHAT WE DID
Building a financial base ready to grow
At The Startup CFO, we worked with Argilla to professionalize the finance function from an early revenue stage, but with high investor expectations and an international structure.
We implemented monthly closing processes, financial reporting for investors and tracking of KPIs, burn and cash position. The goal was to allow the company to make decisions with clear information and always meet the expected reporting deadlines.
We also provided structure for both the Spanish subsidiary and the US parent company, centralizing accounting and CFO support within the same team to bring consistency and agility to the finance area.
Monthly closings
Implementation of recurring closing processes to organize financial information and ensure an updated view of the business.
Investor reporting
Preparation of monthly reporting with KPIs, burn and financial position to provide investors with clear visibility.
International structure
Financial coordination between the Spanish subsidiary and the US parent company, with consistent criteria and centralized processes.
— 03 · CORPORATE TRANSACTION
Prepared for the opportunity
In early 2024, Hugging Face began conversations to acquire Argilla. Thanks to the prior financial structuring work, the company was able to approach the due diligence process with much greater confidence.
The Startup CFO coordinated directly with the legal, tax and financial teams on both sides, ensuring that all documentation was prepared, organized and validated.
Having accounting and CFO support centralized within the same team helped accelerate the review, minimize risks and respond quickly during a key process for the company.
— 04 · RESULTS
An acquisition prepared in advance
Acquisition
Argilla was acquired by Hugging Face in 2024
Due diligence
Financial documentation prepared, organized and validated
Reporting
Monthly investor visibility from an early stage
The Argilla case shows the value of building a solid finance function before a strategic opportunity appears. The acquisition by Hugging Face was not just the result of a single transaction, but of rigorous financial work sustained over time.
When closings, reporting and documentation are well prepared, the company can move with much greater agility. In this case, that preparation made it possible to move confidently toward an international exit without needing to raise a new funding round.
