- Paro, a platform that democratizes access to enterprise-level finance professionals, announced recently that it raised $10 million in funding to support continued growth
Paro — a platform that democratizes access to enterprise-level finance professionals and puts finance on autopilot founded by Michael Burdick and Dan Wywrot, CPA — announced it raised $10 million in funding to support the continued growth of the company. This round of funding was led by Sierra Ventures. Existing investors including Washington D.C.-based Revolution Ventures, KGC Capital, and Tom Williams also participated in the round.
With this round of funding, Paro is planning to expand its suite of workflow automation tools for finance professionals, continue its acquisition of larger enterprise clients, and continue disrupting accounting firms, temp agencies, and staffing agencies.
“The freelance economy is beginning to specialize by vertical and Paro has become the leader in providing on-demand finance teams to middle market and enterprise companies,” said Mark Fernandes, a Managing Director at Sierra Ventures. “Paro is capitalizing on a multi-decade shift in how companies find, source, and work with talent, and their exceptional growth is a clear indicator of this trend.”
Paro is known for automating business management and removing the unpleasantness typically associated with freelancing for expert financial professionals. This way it enables the experts to focus on the kinds of client engagements that they are passionate about. And members of Paro’s network have the freedom to choose the work they love and the flexibility to work from anywhere in the country all with the income predictability of a full-time position.
And Paro offers a better alternative to accounting firms and temp or staffing agencies with access to a network of highly-vetted finance experts. And the platform’s data-driven matchmaking algorithm connects clients with subject matter experts and it is so effective that 95% of clients choose to work with one of the first two experts with which they’re matched.
“Paro’s matchmaking algorithm enables seamless placement of industry experts to serve customers in need of mission-critical finance and accounting functions,” added Clara Sieg, a Partner at Revolution Ventures. “With a powerful product experience and income predictability tools, Paro continues to attract the best-quality talent and provides better service to their customers at a fraction of the price of traditional accounting firms.”
