Accounting Seed, a cloud-based accounting and financial management software provider, has secured a “significant growth investment” from HIG Growth Partners.
The group announced that it intends to use the funding to expand its product development, support, marketing, and sales efforts.
Founded in 2008, Accounting Seed offers an accrual accounting solution to small and mid sized organisations across all industries.
Evan Karp, managing director at HIG, said: “Investing in Accounting Seed’s SaaS accounting platform presents a mutually beneficial partnership.
“As a mission-critical accounting platform, Accounting Seed is already transforming businesses across the globe, and we are excited to be on this continued growth journey with them.”
The partnership follows two years of interviewing potential investors, with HIG being selected for its previous success with technology and software businesses, as well as its alignment with Accounting Seed’s growth strategy.
Tony Zorc, CEO and founder of the company, said: “We are thrilled to partner with HIG on our next phase of growth, while also further deepening our customer and partner network within the Salesforce ecosystem.
“We plan to invest greater resources to further enhance our platform, allowing customers and partners to create more custom, all-in-one solutions that fit their respective needs.”