Ceterus completes $6m Series A extension

South Carolina-based Ceterus has completed a $6m Series A extension investment, which was led by Grotech Ventures.

Others that contributed to the funding round included existing investors TechOperators, The IDEA Fund, and Alerion Ventures.

Ceterus is an accounting and intelligence platform helping companies automate their bookkeeping and reporting.

The platform, Ceterus Edge, allows instant access to financials, peer-benchmarks, performance metrics, and daily balances.

Working from the data collected from a customers’ point-of-sale, bank, and payroll systems, helps to reduce manual accounting processes.

Through the investment, the company hopes to expand into small business markets and expanding its Charleston headquarters team.

Ceterus CEO and founder Levi Morehouse said, “The future of accounting is more than a tool, it is a solution that is automated, timely, mobile, and provides useful analytics for the small business entrepreneur.

“This new investment allows for expansion into new small business markets as well as developing additional functionality for our customers.”

In total, the company has raised $10.2m, with its first Series A round picking up $4.2m last May.

Copyright © 2017 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.