HIG Growth Partners (HIG), the growth capital investment affiliate of HIG Capital, has completed a strategic growth investment in Accounting Seed, Inc, a rapidly growing cloud-based accounting and financial management software platform.
Based in Columbia, MD, Accounting Seed is a mission critical SaaS accounting platform that is purpose built for small to medium enterprises. Built on Force.com, Accounting Seed offers a robust and scalable enterprise grade technology stack and enables its customers to fully pilot their organisations with one system of record and unified workflow – from sales lead through to the general ledger. The Company’s feature rich software platform also offers SMEs a highly flexible accounting and financial management solution that is easily customisable using click/no-code technology.
Accounting Seed plans to use the funding to execute its product roadmap, expand the team with key hires, make strategic acquisitions, and invest in additional sales and marketing activities to further accelerate growth. Tony Zorc, Founder and Chief Executive Officer of Accounting Seed comments: “We are thrilled to partner with an HIG team that has had remarkable success with software investments. We have developed a unique solution for our customers over the past several years, and HIG’s investment will enable us to expand our team and drive even greater innovations in our platform. We are excited for the journey ahead.”
“Accounting Seed represents an ideal opportunity to invest in a differentiated and mission-critical cloud-based accounting and financial management solution that helps SMEs enact their digital transformation strategies,” says Evan Karp, Managing Director at HIG. “We are excited to be partnering with the entire team at Accounting Seed and to help them execute on the Company’s development plans.”
Paul Hastings LLP served as legal counsel to HIG on the transaction. Piper Sandler and Cooley LLP advised Accounting Seed on the transaction.