SMB Accounting Platform ScaleFactor Lands $10 Million in Series A

ScaleFactor, a smart finance and accounting platform that enables businesses to operate in real time, announced a $10 million Series A funding round led by Canaan Partners alongside Broadhaven Ventures, Citi Ventures, Next Coast Ventures, Flyover Capital, Firebrand Ventures, and strategic angel investors.

Founded by former “Big Four” CPAs and with 850 percent year-over-year growth, ScaleFactor’s goal is to become the financial operations suite of choice for the 19 million companies in the U.S. with under 100 employees. By automating taxes, inventory, invoicing, bill pay, payroll, and 1099 management, and integrating with other core software like Xero, Quickbooks, Gusto, Expensify, Salesforce, Shopify and others, ScaleFactor helps business owners focus on growth.

The company plans to use the funding to expand ScaleFactor’s marketing and business development teams, as well as to invest in enhancing its technology offerings.