DebtBook, a debt, lease, and subscription management software company based in Charlotte, has closed a significant investment round.
The company has successfully raised $12.5m in a Series A-1 funding round. The investment was spearheaded by Elephant Partners and received support from Meeting Street Capital and CreativeCo.
DebtBook operates in the domains of local government, higher education, and healthcare. The company offers a cloud-based platform that empowers finance teams to manage their debt, leases, and subscriptions with enhanced efficiency, collaboration, and transparency. The platform’s unique design simplifies debt, lease, and subscription management, ongoing compliance, and financial reporting. It also aids in implementing new accounting standards like GASB 87 and GASB 96.
The recent investment is aimed at accelerating the delivery of DebtBook’s product roadmap. The focus is on ensuring a best-in-class customer experience and offering modern, elegant solutions to public sector finance teams across the country.
DebtBook CEO and Co-Founder Tyler Traudt said, “Our public sector customers wake up every day trying to figure out how to deliver their communities’ most important projects in the face of shrinking budgets and shifting regulatory requirements. At DebtBook, we wake up every day excited by the challenge of delivering world-class software that empowers these public servants to do their best work. This investment will accelerate our ability to deliver on our promise to build the modern tools the public finance industry deserves.”
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