Leading accounting learning and compliance management companies LCvista and Prolaera will merge, the companies announced Monday. The combined entity will draw upon its extensive experience and industry-leading solutions to offer the most effective, efficient, and responsive products to meet the professional education and compliance needs of accounting firms, both now and into the future.
SEATTLE, Jan.12, 2023 /PRNewswire-PRWeb/ -- Leading accounting learning and compliance management companies LCvista and Prolaera will merge, the companies announced Monday. The combined entity will draw upon its extensive experience and industry-leading solutions to offer the most effective, efficient, and responsive products to meet the professional education and compliance needs of accounting firms, both now and into the future. As part of the transaction, a strategic investment was provided by Polaris Growth Fund (PGF).
LCvista and Prolaera provide an evolving suite of software solutions to meet the learning and development needs of accounting firms, including ensuring compliance accuracy and offering features that support continuous collaboration across users. The companies' centralized solutions enable their customers to confidently and efficiently monitor, meet, and collaborate on accounting professional education and compliance requirements, requiring fewer internal resources and unlocking more resources for client service and delivery.
Since its founding in 2016, LCvista has delivered an industry-leading, all-in-one integrated solution providing accounting firms flexibility with regard to continuing professional education and compliance, including integrations with customers' preferred webcast delivery platforms and choice HRIS systems. "The merger of LCvista and Prolaera, backed by PGF's resources and expertise, puts our combined company in a position of strength within our market and unlocks opportunities to accelerate growth," said Scott McAfee, Co-founder and Chief Sales Officer of LCvista, who will assume the same role at the combined company.
"By leveraging the best of what LCvista and Prolaera have to offer, we will maximize our ability to innovate and deliver best-in-class solutions that meet the needs of every customer, which is critical in the face of the ever-changing CPA compliance environment. Together, we will offer the best solutions, service, and value to our customers, regardless of their individual needs," McAfee continued.
Founded in 2015 by Evan Hiner, Prolaera also offers a software solution for accounting firms to manage continuing professional education content and complex compliance tracking requirements. "In joining forces with LCvista, we will continue to provide innovative solutions to help accounting firms manage their compliance and educational requirements," said Hiner, who will become Chief Product Officer of the combined company. "Our team remains focused on delivering the extensive features and functionality our users require, outstanding customer service, and leveraging our deep industry knowledge to best serve our customers. We share very similar values and operating approaches with the LCvista team and are excited to collaborate to create an enduring leader in our market vertical," Hiner continued.
Serving close to 200 customers, LCvista and Prolaera will continue to support and invest in designing best-in-class products that solve salient problems for accounting firms and their employees, including leveraging this new-found scale to further unlock innovation and value for customers. Additionally, this transaction will make available significant resources and efficiencies to strengthen the company's ability to serve customers, accelerate reach to new customers, and invest in research and development.
PGF is a software-focused, specialized affiliate fund of Polaris Partners, a Boston-based private investment firm with two decades of technology and healthcare investing experience. Polaris has offices in Boston, San Francisco and New York. For more information visit: http://www.polarisgrowthfund.com
Since 2016, LCvista has brought clarity, understanding and efficiency to accounting firms' learning and compliance landscape. Its industry-leading software solution meets the evolving needs of accounting firms with compliance accuracy and continuous collaboration. Today, more than 80 customers use LCvista's accounting learning and compliance management solutions. For more information visit: https://lcvista.com/
Prolaera offers an innovative, flexible continuing professional education and compliance platform for more than 100 accounting firms. Founded in 2015, it streamlines the management of continuing professional education for licensed accounting professionals. Its platform brings together compliance requirement tracking, a peer-to-peer course marketplace, and an online learning platform to deliver on-demand training. For more information visit: https://prolaera.com/
Laura Silver, LCvista, 1 855-980-0357, [email protected]