ScaleFactor, an intelligent finance and automated accounting platform based in the U.S., announced on Thursday it raised a $60 million Series C funding round, which was led by Coatue. ScaleFactor reported that the latest funding round is on the heels of its Series B in January 2019. The company has raised a total of $100 million in the past year.
Founded in 2014, ScaleFactor is on a mission to automate the painful, time-consuming tasks that burden business owners, entrepreneurs, and executives. We’ve developed a smart finance and accounting platform that enables businesses to operate in real-time with automated bookkeeping, proactive alerts, at-a-glance performance metrics and more.
“Our trusted accounting and finance experts review monthly financials, provide delightful support and help users with their toughest financial challenges. ScaleFactor delivers peace of mind so users can confidently control their operations and strategically grow their business.”
Speaking about the company’s growth and development, Kurt Rathmann, founder and CEO of ScaleFactor, stated:
“Listening closely to our customers over the years, we’ve learned small business owners care about three factors above everything else: saving time, saving money and scaling their businesses. ScaleFactor has taken our collective experience and focused our entire model on addressing these needs directly to empower SMBs with technology and services that were formerly only available for large enterprises.”
Rathmann went on to add:
“We are excited to add Coatue and all of our new investors to the ScaleFactor family.”