Consulting

D.A. Davidson advises SafeSend amid ‘significant’ growth round

It comes after SafeSend experienced ‘rapid growth’ over the last few years scaling to serve more than 50% of the top 300 U.S. accounting firms

D.A. Davidson & Co has revealed it served as exclusive financial advisor to SafeSend for its “significant” growth round provided by Lead Edge Capital, a growth stage investment fund with over $3bn of capital raised since inception.

SafeSend, which was founded in 2008 by Steve Dusablon and Andrew Hatfield, offers systems that automate the tax return assembly and delivery process.

The SafeSend Suite enables full digitization of the “last mile” of professional tax preparation via digital assembly, secure delivery, and integrated e-sign of tax returns.

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SafeSend has experienced “rapid growth” over the last few years as it has scaled to serve more than 50% of the top 300 U.S. accounting firms.

Joe Morgan, head of D.A. Davidson’s technology investment banking group, said: “The SafeSend management team has leveraged deep industry expertise and visionary product innovation to deliver impressive growth at scale the last few years. With their market leading position and new partner, SafeSend is extremely excited about the prospects of its next evolutionary phase as it aims to accelerate various growth drivers.”

Hatfield added: “The transaction outcome exceeded even our loftiest expectations. We are very excited for our next phase of growth with Lead Edge.

“We could not be more thankful to the D.A. Davidson team that assisted on this transaction. From day one we could tell that they were fully invested in maximizing the outcome for what was a seminal transaction for our company. We are thrilled to have found a fantastic partner in Lead Edge.”

D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise.

Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.

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