Benchmark Cloud Accounting Scales with Acquisition of Botkeeper’s Direct Small business Shoppers
AUSTIN, Texas, Aug. 11, 2021 /PRNewswire/ — Benchmark Cloud Accounting (BMCA) has obtained Botkeeper‘s immediate shoppers which consists of much more than 200 companies across the U.S. in a range of industries.
The acquisition allows the enterprise-funded BMCA, started in spring 2021 and propelled by an initial seed round of $5,100,000, to accelerate its mission of giving cloud-primarily based accounting and advisory providers to entrepreneurial, tech-savvy enterprises.
“We currently leverage the Botkeeper platform so this produced perfect perception for us,” claimed Matt Elson, CEO, BMCA. “This was a massive, strategic transfer that will drive growth and our capacity to company clientele with additional choices.”
Cloud-centered technologies are disrupting the mature accounting market. While classic accounting corporations are making an attempt to mesh these technologies into their existing tactics with blended achievements, BMCA’s upcoming-technology accounting solutions shift essential accounting features like bookkeeping to know-how platforms like Botkeeper, releasing clientele to work with their accountants on a more strategic advisory stage.
Botkeeper declared in early 2020 that is would dedicate its organization concentration exclusively to the accounting profession. The organization, which supplies bookkeeping and pre-accounting products and services utilizing synthetic intelligence and machine learning, connects companies that want to use its system to their Accounting Company Companions.
“As one of our premier accounting companions, we are extremely confident that Benchmark will provide these businesses with the greatest feasible accounting and bookkeeping products and services employing the Botkeeper platform they know and depend on,” claimed Enrico Palmerino, founder and CEO, Botkeeper.
A essential business vertical for BMCA is undertaking-funded, tech-savvy organizations — businesses like their very own with whom they can expand.
“It really is imperative that we supply services to tech firms in the cloud wherever they at present function,” stated Elson. “With timely financial information at our fingertips, we are centered on advising purchasers in regions such as forecasting, processes and procedures, due diligence, start out-up fund-increasing and far more. Which is the future generation of advisory providers they require to go from preliminary seed funding to a liquidity event.”
By connecting Botkeeper’s shoppers to BMCA, the companies intention to provide conclusion users with a substantial-quality encounter employing most effective-in-course know-how paired with the knowledge and advisory knowledge of seasoned accounting gurus.
“Benchmark is a quintessential case in point of what a business can attain by leveraging engineering and focusing on supplying the specialised and bigger margin advisory solutions that we do not,” mentioned Palmerino. “We are humbled to have played these kinds of a substantial element in enabling their rapid expansion.”
In the long run, BMCA will keep on to develop by means of acquisition with the assist of investors even though capitalizing on the most up-to-date technological innovation to enable their clients.
Benchmark Cloud Accounting (BMCA) provides advisory, controller and crucial imagining accounting products and services employing greatest-in-course cloud-based mostly systems to increase the fiscal results of smaller- and medium-firms. BMCA performs with VC-backed organizations at any phase of progress, supporting their efforts in effective expansion and fundraising. Launched in 2021m BMCA is headquartered in Austin, Texas. Study a lot more at BenchmarkCloudAccounting.com.
Media Contact: Kate Tolin, 330-984-4000, [email protected]
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