Sqrl, Digital Hunter-Gatherer, Raises 550,000$ Seed Round
Sqrl is an accounting digital hunter-gatherer startup located in Cincinnati. The startup was founded in 2012 and their main goal is to provide an easier service for accountants to follow up with their clients. The startup co-founders are Ryan Watson, Ryan Baker, and Craig , all of which are former accountants before deciding to start Sqrl.
The idea of Sqrl came up when CoFounder, Watson, felt that he was wasting more than half of his days emailing clients back and forth. Watson thought, there must be a better way to automate or make things easier. He then picked up the phone and started calling other accounting firms to see if they were experiencing the same problems. Surprisingly, everyone was frustrated with the problems as well. Because of this, Watson and his co-founders started up Sqrl, an accounting startup software to make accountant’s life easier.
“What came back was overwhelming feedback that, yes, our fellow accountants did in fact have our same problem,” said Watson, who is also CEO of Sqrl. “What’s more, they were all asking to use [our solution]when we were finished. At that moment, Sqrl stopped being just an internal tool for our accounting firm and became a broadly applicable product we would ultimately market to the industry at large.”
Approximately 200 accounting and professional service firms signed up to use the tool before it was launched publicly on January 29, Watson said. Since it was launched last week, an additional 300 individuals and firms have begun adopting and implementing Sqrl, he added.
The startup’s initial presale and idea impressed investor and VC firms. Their seed round consist of 550,000 led by Cincinnati-based CincyTech, as well as Hyde Park Venture Partners and Vine Street Ventures
How Sqrl Works
Sqrl is a simple automation and reminder software for following up with your clients. You will first need to create a web form in the program that will consist a series of questions for your clients to answer. You will then send an email to the client with the form and the client will fill out the list of questions that you requested. If your client does not answer all the requested information, Sqrl will automatically send them weekly or friendly reminders asking them to provide additional information. Sqrl also let’s you schedule emails and manage clients all in one place. Sqrl also allows you to bundle a bunch of clients under one group or separate them to different groups.
Sqrl will have a “team plan” which is a paid version of the software that will have the following additional features.
Team/collaboration: “This will give users the ability to create an organization, invite other members of their organization into Sqrl, and begin collaborating with multiple users across specific projects,” Watson said. “So for instance, an audit manager could create a project for an audit engagement giving him or her visibility into all outstanding and gathered requests across that engagement.”
White label: “Very shortly, we will begin offering our users the ability to customize the experience to their clients by uploading their own logo and customizing the way the e-mail notifications look and sound to their clients,” he said.
Advanced security profiles: “We will begin providing our users the option to secure entire requests, specific items, or files within a request with advanced levels of authentication, such as multifactor authentication,” Watson said.
Check out Sqrl’s website below: