ScaleFactor, an Austin, Texas-based smart finance and accounting platform that enables businesses to operate in real-time, raised $2.5M in seed funding.
Backers included Next Coast Ventures, Techstars Ventures, Firebrand Ventures, Matchstick Ventures, Edison Factory and Flyover Capital.
The company intends to use the funds to accelerate product development of innovative technologies to further automate bookkeeping and forecasting solutions.
Led by Kurt Rathmann, CEO and Founder, ScaleFactor provides a smart finance and accounting platform that enables businesses to operate in real time. The solution integrates with existing cloud software to provide automation tools for bookkeeping, tax compliance and financial analysis.
The company, which had raised $370K in March 2015 and participated in the Techstars Austin Accelerator in Spring 2017, has also added new features such as mobile development and created a Trusted Partnership Network.