LeaseAccelerator, a Reston, VA-based Enterprise Lease Accounting software vendor, raised $30M in funding.
Insight Venture Partners, a New York-based venture capital and private equity firm, made the investment. In conjunction with the financing, Peter Sobiloff, Managing Director at Insight Venture Partners, will join the board and Jon Rosenbaum, Senior Associate, will be a board observer.
The company intends to use the funds to accelerate its growth strategy, expand its international operations, invest in expanded training, technical support and success programs for its customers, and expand its R&D organization to support a wider variety of industry-specific use cases.
Led by Michael Keeler, CEO, LeaseAccelerator offers a SaaS solution for Enterprise Lease Accounting, enabling compliance with the current and new FASB and IFRS standards. Using the company’s proprietary Global Lease Accounting Engine, customers can apply the new standards to all categories of leases including real estate, fleet, IT and other equipment at an asset level.