Wave Accounting Goes For Gold, Secures $12M In Series B Funding

BY: 

Dave Forde
May 16, 2012

Wave Accounting secured $12M in a Series B round of funding for their cloud-based accounting software startup today, which marks another major milestone in the company’s history.  In June of 2011, they secured $1.5M in seed funding, and then another $5 million in October, which helped them to acquire Small Payroll and start rolling out of their service into US.  Today’s round was led by The Social+Capital Partnership (Social+Capital) with participation from existing investors Charles River Ventures (CRV) and OMERS Ventures.

Since launching back in 2010, the company has grow at a rapid rate and makes it one of the fastest growing financial applications for small businesses.  A few of the companies key milestones include:

  •  signed up nearly a quarter of a million businesses, and continues adding roughly 1,000 new signups every day.
  • attracted business owners in 200+ countries, with 70% of signups coming from North  America.
  • tracked $24.3 billion in income and spending

Wave Account has started accepting advance invitations to US companies that want to use their service.

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Dave Forde


Dave “The Connector” Forde has been involved in the marketing, public relations and technology industry across Canada for over 20 years in various sales and marketing roles, he launched The Connected One network of business sites which connects buyers to the right sellers. Profectio and PR In Canada covers news about the marketing and public relations industry each day helping professionals advance their career and businesses. He also serves as an advisor to a number of businesses across the country. Find Dave on LinkedIn and Twitter.


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