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US-based ScaleFactor raises $60 million in a Series C funding round

Kurt Rathmann, Founder, and CEO of ScaleFactor

Texas-based intelligent finance and automated accounting platform, ScaleFactor has raised $60 million in a Series C funding round led by Coatue. The funding round was led by Bessemer Venture Partners, Canaan, Broadhaven Ventures, and Firebrand Ventures as well as new investors including Vulcan, Stripes Group, and NextPlay Capital, among other prominent angel investors.

“Listening closely to our customers over the years, we’ve learned small business owners care about three factors above everything else: saving time, saving money and scaling their businesses,” said Kurt Rathmann, founder, and CEO of ScaleFactor. “ScaleFactor has taken our collective experience and focused our entire model on addressing these needs directly to empower SMBs with technology and services that were formerly only available for large enterprises. We are excited to add Coatue and all of our new investors to the ScaleFactor family.”

Established in 2014, the company’s operating system aims to offer a comprehensive view of business finances. It focuses on the overlooked SMB sector. Their smart finance and accounting platform enables businesses to operate in real-time with automated bookkeeping, proactive alerts, at-a-glance performance metrics and more.

“ScaleFactor is building the most comprehensive financial SaaS platform on the market for SMBs,” said Thomas Laffont, Coatue’s co-founder. “ScaleFactor is the back-office connection point that simply makes it easier to run a business. We are very pleased to invest in and support ScaleFactor on their path toward market leadership in the fintech sector.”

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