|Type of business||Private|
|Area served||United States|
|Key people||Kurt Rathmann (CEO)|
David Loia (CCO)
Gary Forni (COO)
Brian Simmons (Director of Products)
ScaleFactor is a private company that creates accounting and finance software for small to medium-sized businesses. The startup company has 51-200 employees and is located in Austin, Texas, USA. Its products include bookkeeping, bill pay, invoicing and tax compliance. The goal of ScaleFactor is to empower business owners to make better strategic and financial decisions.
ScaleFactor was founded in 2014 as an accounting firm providing accounting and financial services. The business transitioned from an accounting services business to a SaaS company, automating accounting services that were traditionally manual processes for startups and small businesses. In January 2017, ScaleFactor joined Techstars Austin.
In November 2017, ScaleFactor announced $2.5 million in Seed Funding. The following year, in June 2018, ScaleFactor announced raising $10 million in Series A funding. ScaleFactor’s investors include Canaan Partners, Citi Ventures, Broadhaven Ventures, Next Coast Ventures, Flyover Capital, Techstars Venture Capital Fund, Edison Factory, Firebrand Ventures and Matchstick Ventures.
ScaleFactor’s main products are bookkeeping, invoicing, bill pay and compliance. ScaleFactor also has a chatbot, Marge, and its own mobile app. ScaleFactor integrates with existing cloud software, such as Quickbooks and Xero, to provide tools for bookkeeping, tax compliance and financial analysis. According to TechCrunch, "With insight of (and control over) payroll management, billpay, cash approvals, cash accounting, and an ability to project forward cash flows (along with invoicing and tax management for part time employees), ScaleFactor will be able to offer lending services to smooth bumps in a company’s progress."
The company has received various culture awards including Austin's Best Places to Work in 2017 and 2018, and Austin Inno's Coolest Companies. ScaleFactor was also voted one of the best bookkeepers in Austin by Expertise in 2017 and 2018.
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