Propeller Industries, LLC, a NYC-based provider of financial and accounting services for venture-stage companies, received an equity investment from affiliates of Newlight Partners.
The terms of the deal were not disclosed.
The company intends to use the proceeds to accelerate organic growth, expand its technology platform, and to support acquisitions.
Founded in 2008 and led by Chris Fenster, Founding Partner and Chief Executive Officer, Propeller provides core services including CFO-level financial guidance, comprehensive financial reporting and cost-effective accounting, as well as specialized services such as transaction advisory, trade promotions management, and human resources.
Today, the company employs nearly 200 full-time people across six U.S. and two international offices to serve over 300 early stage companies.
It has U.S. offices in San Francisco, New York, Los Angeles, Austin, Boulder and Sun Valley, and International offices in Bangalore and Manilla.