Decimal, a technology platform for SMB (small-and-medium-sized businesses) accounting operations, today announced a $9.2 million seed fundraising round led by Arthur Ventures, with participation from Service Providers Capital and a handful of individual angel investors.
INDIANAPOLIS, June 8, 2022 /PRNewswire-PRWeb/ -- Decimal, a technology platform for SMB (small-and-medium-sized businesses) accounting operations, today announced a $9.2 million seed fundraising round led by Arthur Ventures, with participation from Service Providers Capital and a handful of individual angel investors. The capital raised will be used to accelerate growth and platform development.
"Every business has to pay their bills, get paid, and track it. Today, accounting operations is a painful process, but managing things like bookkeeping, bill pay, payroll, etc. is a necessary evil," said Matt Tait, CEO and Co-Founder of Decimal. "Our mission is to take away the stress and workload of accounting operations from entrepreneurs, allowing them to focus on building their business and doing what they do best."
"There are more than 6 million SMBs in the US. We've seen firsthand how they struggle with their accounting operations. It's just not a priority for most businesses, and it's much harder than it should be." said Patrick Meenan at Arthur Ventures. "There is massive demand for a solution to accounting operations that creates efficiency, reduces errors, and offers greater insight into business operations like Decimal. We were impressed by the Decimal team and their rapid growth."
Launched in January 2020, Decimal has experienced significant growth over the past two years, while raising no capital to this point. The company was founded in Indianapolis, but has embraced a remote-only culture with employees and customers throughout the country.
"We are thrilled to have such philosophically aligned investors and advisors join us on our mission to solve accounting operations for SMBs," says Jacob Cloran, CPO and Co-Founder at Decimal. "I couldn't be more excited to continue growing our fully-remote team and building out the Decimal platform."
For more information, please visit https://www.decimal.com/.
About Decimal: Decimal is a platform that solves accounting operations for SMBs. It helps SMBs automate and outsource their accounting operations for a fixed monthly fee. For more information, please visit https://www.decimal.com/.
Media Contact
Tanya Hayre Gillogley, Decimal, 1 (317) 343-4008, [email protected]
SOURCE Decimal
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