What is Lockstep?
Founded in 2019, Lockstep operates within the financial technology space, specifically focusing on enhancing B2B accounting workflows. The company's core offering aims to streamline financial operations by connecting disparate accounting systems, thereby preventing revenue leakage and improving overall financial efficiency. This strategic positioning addresses a critical need for businesses seeking to optimize their accounts payable and receivable processes through integrated digital solutions.
How much funding has Lockstep raised?
Lockstep has raised a total of $10M across 1 funding round:
Series A
$10M
Series A (2021): $10M with participation from Revel Partners, Clocktower Group L.P, and Point72
Key Investors in Lockstep
Revel Partners
Revel Partners is a venture capital firm based in New York that specializes in investing in exceptional founders focusing on B2B software. They aim to support the next generation of B2B software entrepreneurs by leveraging their entrepreneurial heritage and global network.
Clocktower Group L.P
Clocktower Group L.P is an investment firm that participated in Lockstep's Series A funding round.
Point72
Point72 is a private investment management firm headquartered in Stamford, Connecticut, managing various private investment funds. They participated in Lockstep's Series A funding round.
What's next for Lockstep?
With its recent major strategic investment, Lockstep is poised for significant expansion. The company's focus on connected accounting solutions places it in a strong position to capitalize on the increasing demand for automated and integrated financial management tools. Future developments are likely to involve enhancing its platform capabilities, expanding its market reach, and forging new partnerships to further solidify its presence in the enterprise accounting software market. The company's ability to attract substantial backing indicates strong market confidence in its innovative approach to solving complex accounting challenges.
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