附近上门

Financial operations software platform has raised in a Series A, announced today. The round was led by with participation by , , , , , and other angel investors.

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This is the third round of funding for the Austin-based company, which recently raised in Seed funding in November 2017 and participated in during the spring of that year. With the addition of its round in 2015, its Series A brings the company鈥檚 total funding to nearly $12.9 million.

Founded in 2014 by former accountant , ScaleFactor aims to help small and midsize businesses better manage their finances and set strategic financial goals.

鈥淎s a CFO at a small company in Denver, I was facing a series of operational inefficiencies that created a major disconnect between taking an action, and the impact it had on the business,鈥� Founder and CEO Kurt Rathmann told 附近上门 News in an email. 鈥淲e couldn鈥檛 realize the impact of things that were happening in May until we got the monthly reports in June.鈥�

After allocating most of his time to simplifying accounting tasks and automating manual work, Rathmann decided to leave his job and found ScaleFactor.

With ScaleFactor鈥檚 software, companies can access automated accounting and bill pay and invoicing tools, integrate their financial processes into a tax compliance calendar, and view performance data through ScaleFactor鈥檚 company visibility dashboard. According to Rathmann, more than 250 companies use the platform. ScaleFactor currently serves three markets, including professional services companies, subscription-based businesses, and brands in consumer-packaged goods.

鈥淲e have a very technical team,鈥� Rathman wrote. 鈥淏ecause of this, we have the ability to identify financial correlations as to why some customers excel over others in their space, and in turn, help our customers scale.鈥�

Rathmann said that ScaleFactor has been focused on enhancing its core products for bookkeeping, bill pay, invoicing and tax compliance, but he says the company is also looking to build out ScaleFactor鈥檚 features and capabilities.

鈥淲e鈥檙e also building new features that help businesses make decisions based on their cash flow 鈥� things like getting paid faster and seeing potential issues before they happen,鈥� Rathmann expressed.

Rathmann also said the company will dedicate the funding to customer acquisition.

鈥淲e are focused on finding great customers and making them very happy for a long time,鈥� he wrote.

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