Senta, a cloud based application that aids accounting firms, quickly topped its £75,000 funding target in just 5 days on Seedrs. The offer now stands at over £109,000 and about 16% equity. Senta has a pre-money valuation of £574,950. The Senta product is a new service that will help accounting practices with marketing and CRM, schedule client tasks and deadlines, and improve security and customer service. Senta was part of the Webstart Bristol – a tech incubator that previously raised capital on Seedrs as well.
“We hit our investment target within five days,” says co-founder James Kilford, “but we’ll keep the investment round going and raise more to satisfy investor demand. We’ll use extra funds to accelerate our plans. Raising money takes a lot of time, so now that we’re in the process we’ll keep the offer open for a little bit longer.”
Co-founders James and Phil Murphy joined the summer 2014 program of WebStart Bristol. “We started Senta with a really simple concept: to build a great cloud service to help accountants run their practice,“ says co-founder James. “We want to give accountants the time and tools they need to grow their practice and work with more clients.”
“We’re building a service that’s quick and easy to use, and we’ve concentrated on the things that accountants have told us are their biggest problems: managing the thousands of client tasks that need to be done every year, improving security and communication with clients, and helping practices with their own marketing,” says Phil.
Webstart Bristol is the creation of entrepreneur Mike Jackson. He selected Senta for the incubator program and has personally invested in the startup.
“I invested personally in Senta, at the idea stage, when I asked them to join WebStart Bristol. The founders have been talking to accountants, building and refining their product, and now they’re ready for rapid growth. Their early customers have really helped Senta develop a cloud service that’s relevant for them and lots of people are telling me this is what accountancy firms are looking for right now.”
James lauded the Seedrs experience stating that individual investors have reached out directly to offer advice and support to help guarantee the company’s success.
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