Paro – a Chicago-based startup disrupting the way companies access on-demand finance and accounting expertise – announced it raised $25 million in Series C funding to further develop its platform supporting freelance experts and continue its expansion with enterprise clients. The funding round was led by Top Tier Capital Partners, with participation from existing investors Madrona Venture Group, Revolution Ventures, and Sierra Ventures. Paro has raised $67 million to date.
The company also offers its network of finance experts the tools and insights they need, including marketing, business development, and back-office support, to pursue meaningful work on their own terms. And by placing highly educated and experienced interim CFOs, controllers, accountants, analysts, bookkeepers, and more, at the best-fit opportunities, Paro has helped thousands of companies shed the limitations of traditional hiring.
In the next phase of growth, Paro plans to use the funding to continue accelerating business with existing clients while bringing its proven platform to more enterprises seeking strategic finance and accounting services. And Paro will also scale its product innovation, including enhancements to its AI-powered suite of tools that helps experts optimize their earnings and business outcomes.
Since the latest funding round, Paro has tripled in revenue by increasing the average spend per client and helping freelancers improve their productivity. The company expects continued growth with enterprise clients given the current environment and work-from-anywhere trend.
KEY QUOTES:
“Paro’s proprietary, AI-matching software solves a pain point felt in traditional marketplaces by proactively matching experts with the most appropriate job opportunities, enabling a trusted and reliable experience for all parties. Top Tier Capital Partners is excited to invest in Paro’s unique offering while supporting the company in its next evolution of growth.”
— Garth Timoll, Sr., Managing Director at Top Tier Capital Partners, who has joined the Paro board of directors
“The flexibility to tap on-demand experts with specialized financial knowledge within timing and cost constraints is something that every company is looking for right now. With our consistent focus on attracting the best experts, businesses of all sizes are engaging with our talent model. We help small businesses to large enterprises quickly access flexible and dynamic talent to achieve their goals.”
— Anita Samojednik, Paro CEO
“An increasing number of professionals want to work on their own terms to feel both professionally and personally fulfilled. With Paro, that’s exactly what they get. We remain focused on providing the solutions that empower our experts and by extension the clients we match them with.”
— Michael Burdick, Paro CSO and Co-founder
