What is ScaleFactor?
ScaleFactor is dedicated to streamlining the operational complexities faced by small businesses. By automating critical accounting functions and transforming raw financial data into understandable business intelligence, the company enables entrepreneurs and managers to dedicate more time to core business growth and innovation. Their platform aims to solve common pain points in financial management for small enterprises, facilitating scalability and operational efficiency.
How much funding has ScaleFactor raised?
ScaleFactor has raised a total of $72.6M across 4 funding rounds:
Other Financing Round
$100K
Angel/Seed
$2.5M
Series A
$10M
Series C
$60M
Other Financing Round (2017): $100K with participation from Techstars and Right Side Capital Management
Angel/Seed (2017): $2.5M led by Flyover Capital, Techstars Ventures, Firebrand Ventures, Next Coast Ventures, and Matchstick Ventures
Series A (2018): $10M supported by Canaan Partners
Series C (2019): $60M featuring Bessemer Venture Partners, Canaan, Broadhaven Ventures, NextPlay Capital, Stripes Group, Firebrand Ventures, Vulcan, and Coatue
Key Investors in ScaleFactor
Canaan Partners
Canaan Partners is an early-stage venture capital firm that invests in technology and healthcare companies, backing founders from seed through growth stages in areas such as enterprise software, fintech, consumer, biopharma, and digital health. With offices in the U.S. and Israel and billions of dollars under management, Canaan has funded hundreds of startups and supported dozens of IPOs and acquisitions.
Bessemer Venture Partners
Bessemer Venture Partners (Bessemer) is a venture capital firm with a long history, established in 1911. The firm has offices in San Francisco, Redwood City, New York City, Boston, Israel, and India, and is headquartered in Menlo Park, California, US.
Coatue
Coatue Management, L.L.C. is an employee-owned hedge fund sponsor that primarily provides services to pooled investment vehicles. The firm invests in public equity and hedging markets globally, as well as private equity and equity-related securities. Founded in December 1999, Coatue is based in New York City with additional offices in Edison, New Jersey and Menlo Park, California.
What's next for ScaleFactor?
The substantial enterprise-level funding and recent strategic investment indicate a strong market validation for ScaleFactor's approach to small business financial management. This capital infusion is likely to fuel further product development, expansion into new markets, and enhanced customer acquisition strategies. The company appears poised for a significant scaling phase, leveraging its technology to capture a larger share of the small business accounting and financial insights sector.
See full ScaleFactor company page
