Accelo secures $9m Series A to help support its newly-launched platform


Payroll platform Accelo has secured $9m in its Series A funding round led by Level Equity.

Other contributions to the investment came from Fathom Capital and existing backer Blackbird Ventures.

Accelo helps to streamline operations from prospect through to payment, via its cloud-based platform, ServOps. The application is used by thousands of companies to run client service delivery.

San Francisco-based Accelo allows businesses to optimise its client management, sales and quoting, project management, service tickets, retainers, timesheets, expenses, purchases and invoicing.

Over the past year the company has seen a user growth increase of 120 per cent, with more than 80 per cent of its monthly users utilising the platform daily with an average usage time of over an hour.

This round of capital will be used to help develop its newly-launched Service Operations Automation platform.

With this latest round of funding, it brings total equity raised by Accelo to up to $11m. The company’s prior round was a $2m investment led by Blackbird Ventures and various angel investors, with an aim of boosting client growth and product innovation.

Earlier in the year, Level Equity led the $15m financing round of digital fundraising and communication platform MobileCause.

The first half of 2017 has already seen more funding into infrastructure & enterprise software companies than the whole of last year.

Copyright © 2017 FinTech Global

Enjoying the stories?

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


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