Practice Ignition,$650,000 Seed Funding In Cloud Accounting Software
An accounting software firm by the name of Practice Ignition has manage to secure an amount of $650,000 in seed funding from various amounts of investors, this includes the MYOB co-founder and early investor for Xero named Graig Winkler.
Founded by a man named Guy Pearson, who’s previous business he founded was a cloud-based service adviser of Interactive accounting, has recently released a second version of his cloud-based platforming software. This new program will allow the accountants to reduce the costs by streamlining client interaction.
The Other Investors who where also involved in this round of funding includes the New Zealand software developer Trineo and Xeros Vice president. Stuart Mcleod.
Mr.Winkler has commented on his reasons for investing in this company, those being because the accounting industry was beginning to move more towards the cloud technology.
“Accountants have so much value to add to their clients, and Practice Ignition allows them to focus on doing just that instead of being bogged down in admin,” Mr Winkler said.
Practice Ignition has spoken on the funding round, on how this would allow them to expand their international market in an accelerated rate, and increase their customer base much quicker. They currently have an amount of 400 clients in over 20 countries.
“The funding will see our development team more than double in size and allows for some key hires in marketing and business development,” Mr Pearson said.
Pearson long term goals for the funding and company to try and expand beyond other professional services beside their accounting software.