Practice Ignition, a Sidney, Australia-based client engagement and commerce platform for professional services businesses, raised $50m in Series C funding.
The round was led by JMI Equity with participation from JMI, existing investors Tiger Global, EVP and a number of other strategic angel investors and family office groups.
The company intends to use the funds to scale globally in its core key markets in North America, APAC and EMEA, further product development and enhance marketing and sales capabilities.
Founded in 2013 by accounting entrepreneur Guy Pearson and product designer Dane Thomas, Practice Ignition is a client engagement and commerce platform for professional services businesses to engage clients and get paid. Thousands of businesses, including accountants and bookkeepers, all around the globe use the system to help them grow, be more efficient, and create win-win client relationships. Practice Ignition supports over 300,000 monthly client engagements worth over $1 billion USD globally with offices located in Australia, the US, UK, Canada and New Zealand.
The company has thousands of customers across six markets and over $2 billion in client revenue under management.
Practice Ignition recently launched a partnership with Gusto to accelerate adoption and knowledge of People Advisory services. It also announced plans to establish a new R&D team in Toronto, supporting the company’s innovation and customer expansion goals in North America, and contributing to the significant career opportunities within its high performing team globally.