Paro, a disruptive force in the world of on-demand finance and accounting services, has successfully secured $25m in Series C funding.
Paro operates as a dynamic platform that delivers quality finance and accounting solutions to businesses by combining expert fractional talent with data-driven tools and guiding insights.
The latest round was led by Top Tier Capital Partners and witnessed the participation of existing investors Madrona Venture Group, Revolution Ventures, and Sierra Ventures. This brings Paro’s total funding to date to an impressive $67m.
Through its proprietary AI-powered marketplace, Paro is redefining how companies access finance and accounting expertise. By proactively matching experts with the most appropriate job opportunities, it ensures a reliable and trusted experience for all involved. Paro also offers a variety of tools and insights that its network of finance professionals need, including marketing, business development, and back-office support.
This enables these interim CFOs, controllers, accountants, analysts, bookkeepers, and more, to work on their own terms and find the best-fit opportunities, breaking free from the traditional hiring norms.
This fresh capital injection will be used by Paro to accelerate business with existing clients and to extend its successful platform to more enterprises seeking strategic finance and accounting services. There’s also an emphasis on scaling up product innovation, which includes enhancements to its AI-powered suite of tools that help experts optimize their earnings and business outcomes.
Garth Timoll, Sr., Managing Director at Top Tier Capital Partners, who has joined the Paro board of directors, lauded Paro’s unique approach, saying “Paro’s proprietary, AI-matching software solves a pain point felt in traditional marketplaces by proactively matching experts with the most appropriate job opportunities, enabling a trusted and reliable experience for all parties. Top Tier Capital Partners is excited to invest in Paro’s unique offering while supporting the company in its next evolution of growth.”
Paro’s CEO, Anita Samojednik, and CSO and Co-founder, Michael Burdick, both highlighted the benefit of their company’s model, offering flexibility to businesses and fulfilling work experiences for finance professionals.
Since its last funding round, Paro has tripled its revenue by increasing the average spend per client and improving freelancers’ productivity. This upward trajectory is expected to continue, especially given the current work-from-anywhere trend.
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