Consero Global gets $50M investment
Consero Global, which provides outsourced finance, controller and bookkeeping services as well as an accounting software platform, has received an unusual investment for a firm of its type. Boston-based BV Investment Partners has provided the firm with $50 million in private equity funding, earmarked for the expansion of Consero’s business development efforts and continued development of disruptive technologies, as well as for a focused acquisition strategy.
Consero’s finance-as-a-service solutions take a managed platform approach as opposed to a consultation structures. The company provides its cloud-based financial management software, SIMPL, to clients, as well as traditional CFO, controller and bookkeeping services. The combination of a software platform with the outsourced financial services aims to give companies clarity into how their business is performing, as well as a scalable infrastructure to support daily business operations, without the time, cost and effort of managing a full in-house finance and accounting department.
“This [funding] further validates Consero’s vision for the finance-as-a-service market. Companies don’t want another piece of software to cobble together, they want complete solutions,” stated Scott Tynes, CEO of Consero Global. “With this partnership with BV Investment Partners we have the opportunity to grow our customer base exponentially, making Consero the go-to choice for companies who demand both financial excellence and operational efficiency.”
“We were first introduced to Consero as a financial solution for our funds’ portfolio companies,” added Matt Kinsey, managing director of BV. “Having knowledge of some of the challenges that mid-market companies experience to generate timely and accurate financial information, we were quick to identify Consero’s platform as critical for informed decision making in a growth environment. The Consero offering has a proven ROI for its customers and is imperative for business operations and management. We are excited to be involved in this pivotal next stage of growth for the company.”