Log in
Enquire now
ScaleFactor

ScaleFactor

ScaleFactor is an Austin, Texas-based SaaS company offering services in bookkeeping and accounting.

OverviewStructured DataIssuesContributors

Contents

scalefactor.com
Is a
Company
Company
Organization
Organization

Company attributes

Industry
Management
Management
Financial services
Financial services
Accounting
Accounting
Payroll
Payroll
Automation
Automation
Finance
Finance
Software
Software
...
Location
Austin, Texas
Austin, Texas
B2X
B2B
B2B
CEO
Kurt Rathmann
Kurt Rathmann
Founder
Kurt Rathmann
Kurt Rathmann
Corey Bach
Corey Bach
AngelList URL
angel.co/scalefactor
Pitchbook URL
pitchbook.com/profiles...167820-49
Legal Name
ScaleFactor
Accelerator
Techstars
Techstars
Accelerator Batch
‌
Techstars Class 88 - Austin 2017 Q1
Number of Employees (Ranges)
51 – 200
Email Address
hello@scalefactor.com
Phone Number
+15129604470
Number of Employees
100
Full Address
979 Springdale Road Suite 110 Austin, TX 78702 United States
Investors
Citi Ventures
Citi Ventures
Next Play Capital
Next Play Capital
Vulcan Capital
Vulcan Capital
‌
Broadhaven Ventures
Bessemer Venture Partners
Bessemer Venture Partners
Canaan
Canaan
Next Coast Ventures
Next Coast Ventures
Flyover Capital
Flyover Capital
...
Founded Date
January 1, 2013
Total Funding Amount (USD)
102,500,000
Latest Funding Round Date
August 2019
Glassdoor ID
4938175
CTO
‌
Francis Sullivan
CFO
‌
Rose Punkunus
Latest Funding Type
Series C
Series C
NAICS Code
541,511
Wellfound ID
scalefactor
Country
United States
United States

Other attributes

Blog
scalefactor.com/scaleblog/
Company Operating Status
Closed
Invested in
HyperScience
HyperScience

Founded by CEO Kurt Rathmann in 2014, ScaleFactor offers bookkeeping and accounting software. The software uses AI to automate accounting, tax, and finance services to save small to medium business owners money and time. They offer a flat fee to access the digital tools and services which start at $6,000 and reach $30,000 per year. Thomas Laffont, senior managing director at Coatue Management, speaking on their investment in ScaleFactor, said:

If you think of platforms like Shopify and Square, their taking individuals or small merchants and giving them the capabilities to do what was previously only for large companies. That's a huge trend we believe ScaleFactor plays in.

ScaleFactors software analyzes data from point of sale, bank accounts, credit cards and billing systems to automate record keeping and payroll. In November, 2018 ScaleFactor announced a partnership with Gusto - a payroll, benefits and human resources technology platform - to allow business to use both services and increase their back-end automation. They help companies pay their bills, maintain tax compliance, and build quarterly reports. ScaleFactor hired Eric Steinhoff in February 2019 to help expand into lending services to help those business whose books they keep.

ScaleFactor has been able to integrate with core software companies like Xero, Quickbooks, Gusto, Expensify, Salesforce, and Shopify to help business owners, and themselves, grow.

Funding
Angel Round

ScaleFactor completed an Angel Investment round in 2015 with $370 thousand raised.

Seed Round - TechStars Austin accelerator

ScaleFactor graduated the TechStars Austin accelerator in November 2017 with $2.5 million raised. Investors included TechStars Ventures, Next Coast Ventures, Matchstick Ventures, Flyover Capital, Firebrand Ventures and Edison Factury

Series A

ScaleFactor completed their Series A funding round in July 2018 with $10 million raised. Investors included Broadhaven Ventures, Citi Ventures, Next Coast Ventures, Flyover Capital and Firebrand Ventures.

Series B

In January 2019, ScaleFactor completed their Series B funding round with $30 million raised. Investors were lead by Bessemer Venture Partners and included Firebrand Ventures, Canaan Parnters and Broadhaven Capital Partners. ScaleFactor said, during the round, it intended to use the funds raised to expand operations while exploring other products such as loans or insurance to existing clients.

Series C

In August, 2019, ScaleFactor completed their Series C funding round with $60 million raised. Coatue Management lead the round, and investors included Vulcan, Stripes Group, Next Play Capital, Firebrand Ventures, Canaan Partners, Broadhaven Capital Partners, Bessemer Venture Partners, Flyover Capital and Citi Ventures.

Ceasing operation

On June 23, 2020, Kurt Rathmann, CEO of ScaleFactor, met with his team to break the news that they were letting go half of its team members that day. He then announced that the company was ceasing a majority of its operations on August 28, 2020.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

ScaleFactor: Online Bookkeeping, Taxes & Finance for Small Businesses

https://www.youtube.com/watch?v=5T74bqPPQVs

January 14, 2019

References

Find more companies like ScaleFactor

Use the Golden Query Tool to find similar companies in the same industry, location, or by any other field in the Knowledge Graph.
Open Query Tool
Access by API
Golden Query Tool
Golden logo

Company

  • Home
  • Press & Media
  • Blog
  • Careers
  • WE'RE HIRING

Products

  • Knowledge Graph
  • Query Tool
  • Data Requests
  • Knowledge Storage
  • API
  • Pricing
  • Enterprise
  • ChatGPT Plugin

Legal

  • Terms of Service
  • Enterprise Terms of Service
  • Privacy Policy

Help

  • Help center
  • API Documentation
  • Contact Us
By using this site, you agree to our Terms of Service.