What is ScaleFactor?
ScaleFactor is dedicated to enabling small businesses to scale faster by automating complex accounting tasks and translating financial data into actionable business insights. This allows business owners and entrepreneurs to concentrate on core operations and growth strategies. The company's platform aims to solve common financial management challenges faced by businesses, providing a comprehensive solution for financial clarity and operational efficiency. ScaleFactor's mission is to democratize access to sophisticated financial tools for the small business sector.
How much funding has ScaleFactor raised?
ScaleFactor has raised a total of $72.6M across 4 funding rounds:
Other Financing Round
$100K
Angel/Seed
$2.5M
Series A
$10M
Series C
$60M
Other Financing Round (2017): $100K with participation from Right Side Capital Management and Techstars
Angel/Seed (2017): $2.5M led by Techstars Ventures, Firebrand Ventures, Next Coast Ventures, Flyover Capital, and Matchstick Ventures
Series A (2018): $10M supported by Canaan
Series C (2019): $60M featuring NextPlay Capital, Bessemer Venture Partners, Coatue, Stripes Group, Firebrand Ventures, Canaan, Broadhaven Ventures, and Vulcan
Key Investors in ScaleFactor
Bessemer Venture Partners
Bessemer Venture Partners is a venture capital firm with a long history, investing in technology and healthcare companies from seed to growth stages. They are known for supporting founders across various sectors, including enterprise software and fintech.
Coatue
Coatue is an investment management firm that invests in public and private equity across global markets. They focus on technology companies and are known for their active approach to portfolio management.
Stripes Group
Stripes is a growth equity firm that invests in branded consumer and software companies. They partner with market-leading businesses to fuel their growth and expansion.
What's next for ScaleFactor?
The substantial enterprise-level funding and recent strategic investment signal a period of accelerated expansion for ScaleFactor. This capital infusion is expected to fuel product development, enhance market penetration, and potentially support strategic acquisitions. ScaleFactor is poised to further solidify its position as a leader in the small business financial technology space, leveraging its technology to drive greater value for its users and stakeholders. The company's focus on automation and actionable insights positions it well for continued innovation and market leadership.
See full ScaleFactor company page
