ScaleFactor is an online intelligent finance and automated accounting platform that consolidates financial data and automates back-office tasks such as bookkeeping and payroll. The company positions itself as a business OS for small- and mid-size businesses, giving owners real-time visibility and proactive financial insights previously available only to enterprises. ScaleFactor offers automated bookkeeping, payroll, and other financial process automation to streamline operations and establish consistent financial habits. The company plans to expand its 'business OS' capabilities and to offer new solutions including ways for SMBs to access capital that are often inaccessible at their size. ScaleFactor has recently expanded nationally into Denver, released its inaugural State of SMB Finance Report, and was named to Inc. Magazine’s Best Workplaces for 2019. Financially, ScaleFactor raised a $60 million Series C and has raised a total of $100 million in the past year to support product expansion and growth. ScaleFactor offers an intelligent finance and automated accounting platform that consolidates and automates back-office operations into a single “business OS.” Its current product suite includes Automated Bookkeeping, Bill Pay and Invoicing, Cash Vision, and Business Insights. The company translates financial information into usable business insights to help small and midmarket business owners be proactive and focus on growth. ScaleFactor reported over 700% annual customer growth in 2018. The new capital is intended to add features and headcount at its Austin headquarters and support nationwide expansion. Recent senior hires (CTO, SVP Marketing, and a lending lead) are intended to accelerate product development and broaden capabilities such as connecting customers to capital. ScaleFactor provides a modern accounting and finance platform that automates taxes, inventory, invoicing, bill pay, payroll and 1099 management while integrating with software like Xero, QuickBooks, Gusto, Expensify, Salesforce and Shopify. The company was founded by former 'Big Four' CPAs and is positioning itself as a central hub for SMB financial operations. ScaleFactor says it is experiencing rapid customer growth and reports upwards of 850% year-over-year growth. The product aims to translate financial information into usable business insights so owners can focus on running and growing their businesses. ScaleFactor plans to expand its marketing and business development teams and invest heavily in enhancing its technology offerings on the platform. The company targets the roughly 19 million U.S. companies with under 100 employees as its addressable market. ScaleFactor provides a cloud-based finance and accounting platform that automates bookkeeping, tax compliance and financial analysis using machine learning. The product translates complex financial data into a proactive management cockpit for business owners and accountants. ScaleFactor targets the 29 million small businesses in the U.S. and aims to move firms from reactive accounting to proactive financial guidance. The company plans to use the new funding to propel product development, including further automation, forecasting solutions, mobile development and a Trusted Partnership Network. ScaleFactor integrates with existing cloud software and becomes more precise with use as its machine-learning models learn from data. The platform is positioned as a single place for owners and financial experts to run and monitor business operations in real time.

Total raised

$103M

Funding rounds

4

Latest round

Series C

Latest activity

Aug 2019