HubiFi, an advanced financial intelligence and revenue recognition solution, announced it has secured $2.5 million in a seed funding round co-led by Motivate Ventures, Anthemis (supported by Foxe Capital), and Rev1. The company revealed the launch of the Stripe Connector, enabling enterprise accounting and finance teams to measure revenue to cash with the click of a button.
Launched last year, HubiFi supports high-transaction companies’ accounting and finance teams to streamline complex financial data management processes. Currently, financial teams and operators utilize heroics and heuristics to create a comprehensive analysis of revenue and margin performance since the underlying financial data on “profit and loss” (P&L) is never at the level of detail or segmentation needed. Obstacles within this process lead to revenue leakage and margin erosion.
HubiFi’s fully automated system enables teams to aggregate and disaggregate by any segment, swiftly identifying operational drivers in their financials and capitalizing on often overlooked opportunities.
With the funding round infusion, HubiFi plans to build a foundational team focusing on product and engineering and add to the team with CPA and accounting expertise. HubiFi will gain deeper insights into customer needs and optimize the product development roadmap by bolstering its talent base.
This year, the company had enough traction and data to clearly demonstrate a significant market gap to its team and investors. With HubiFi’s latest integration with Stripe, the technology manages complex revenue recognition use cases for customers utilizing subscription management, billing, payment, or any of Stripe’s products. And the solution’s partnership with Paystand highlights their complementary strengths, with HubiFi focusing on revenue recognition and analytics while Paystand provides payment solutions without the variable fee model of Stripe.
KEY QUOTES:
“Unlike current ‘Revenue Management’ tools on the market, HubiFi is built to handle not just the ‘happy path’ use cases. We actually support mid-stream changes, multiple product lines, backdating, and disputes. Accounting and finance teams can rely on our automation, move beyond data management, and focus on improving their businesses.”
- Jason Berwanger, co-founder and CEO of HubiFi
“Motivate is proud to be backing Jason and Bill, exceptional people who identified and began solving a simple yet difficult problem pervasive to tens of thousands of businesses. We believe HubiFi is soon to become the next must-have tool for CFOs.”
- David Wieland, Founder and Managing Partner at Motivate VC
“HubiFi has consistently demonstrated that existing ERP and General Ledger solutions do not adequately adapt to the needs of high-transaction businesses. We are highly impressed by HubiFi’s proprietary data-mapping capabilities, which allow customers to adopt the technology in just days, swiftly enhancing their business processes.”
- Amy Nauiokas, Founder and CEO at Anthemis
