Cloud finance platform Consero gets $50m investment
Texas-based finance and accounting platform Consero Global has received $50 million in private equity funding from BV Investment Partners.
Consero, which calls itself a mid-market Finance-as-a-Service (FaaS) company, says this collaboration will support organic growth and “also facilitate a focused acquisition strategy”.
“Companies don’t want another piece of software to cobble together, they want complete solutions,” says Scott Tynes, CEO, Consero Global.
Bill Klein, president, Consero Global, adds: “Working with BV will enhance our rate of innovation, especially the incorporation of artificial intelligence (AI) driven automation into our SIMPL platform.”
This cloud-based SIMPL financial management console offers “traditional CFO, controller and bookkeeping services”.
This platform approach gives companies “financial clarity into how their business is performing as well as a scalable infrastructure to support daily business operations”.
Atlas Technology Group served as the financial advisor to Consero Global in the transaction. Today’s (21 August) funding follows a 2015 investment of $5 million by Kayne Partners.
Consero was founded in 2006 by Tynes, Klein and Kiran Jagannath. It has 250 clients.
BV Investment Partners is an oldster and was founded in 1983. It has invested over $3 billion in over 90 companies.