Outsourced accounting company Corefino has snagged $13.6 million in a first round of funding led by Opus Capital Ventures and Bay Partners.
The funds will used to underwrite further development and marketing of Corefino’s software. The company combines online financial software with a team of accounting and financial professionals to give customers an outsourced accounting staff. Each client is matched with a four-member Corefino team of two staff accountants, a controller and a chief accounting officer who provide guidance and oversight.
Client data can be imported from various accounting software packages and accessed through Corefino’s online portal. In conjunction with the funding, Opus Capital founding partner Carl Showalter and Bay Partners managing partner Neal Dempsey are joining the board of the company, which has offices in Sunnyvale, Calif., and Maharashtra, India.
“As a former CFO at several successful venture-backed companies, Corefino CEO and founder Karen Northup has a true understanding of the accounting and financial needs of businesses of all sizes, including the critical need for GAAP, audit and Sarbanes-Oxley readiness right from the beginning in order to be prepared for growth,” said Dempsey in a statement.
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