Red Iron Group – a Menlo Park-based private investment firm – recently announced a significant growth investment in hiline Services, LLC – a fast-growing provider of financial operations-as-a-service. Red Iron Group will provide financial, operational, and strategic support to accelerate hiline’s organic growth while significantly expanding the Company’s technology solutions and facilitating strategic acquisitions.
hiline will continue to be led by Co-founder and CEO Matt Gardner. Gardner and the hiline management team will remain shareholders along with Red Iron Group.
hiline’s financial operations-as-a-service model delivers service offerings as a subscription, including accounting services (such as bookkeeping, accounts payable, spend management, and comprehensive financial reporting) and financial planning and analysis (FP&A) led advisory via their strategic finance offering. Additionally, these solutions can be integrated with hiline’s complementary services, such as tax, human resources, and payroll.
Connecting these solutions seamlessly is hilineOS, the company’s cloud-based, standardized technology stack. And hilineOS equips founders and management teams with financial clarity and scalable infrastructure to support their growing operations without the time, cost, and headache of building an in-house finance team. Now hiline serves nearly 150 customers across multiple verticals, including small and midsized businesses (SMBs), nonprofits and growth-minded companies.
Under Matt’s leadership, hiline combined deep vertical expertise with investments in best-in-class cloud technology to break the conventional accounting firm model and deliver cost-effective and dynamic back-office solutions. And the company’s platform can scale with its customers to meet the needs of SMBs and nonprofit organizations of all sizes, delivering insights and strategic guidance to help founders and teams make more informed and timely decisions.
Red Iron Group’s investment in hiline is consistent with the firm’s strategic focus on partnering with founders and management teams focused on building market-leading businesses, with a focus on investing in service differentiation, technology enablement, and strategic growth opportunities.
KEY QUOTES:
“This is a game-changing moment for hiline, and the beginning of an exciting new chapter for our customers and our team. This long-term partnership with Red Iron will allow us to continue to build on our position as the go-to financial partner for businesses and nonprofit organizations. Red Iron shares our vision for the future and our commitment to provide founders and teams with access to the back-office firepower they deserve to free them from non-core, yet mission-critical business functions. Together, we’re positioned to redefine how businesses approach financial operations.”
– Matt Gardner
“The Red Iron team is thrilled to support Matt and his team in this next phase of growth. We are excited to collaborate with hiline as they continue to expand and build upon their established position in the market for financial operations-as-a-service. Partnering with best-in-class services companies with leading technology solutions is a core tenet of our investment philosophy, and we look forward to helping accelerate hiline’s goal of providing superior back-office management, financial reporting and analytics to organizations of all sizes.”
– Ben Bisconti, Co-CEO of Red Iron Group
