COLUMBUS, Ohio, Aug. 6, 2024 /PRNewswire/ -- HubiFi, an
advanced financial intelligence and revenue recognition solution,
announced today it has secured $2.5M
in a seed funding round co-led by Motivate Ventures, Anthemis
(supported by Foxe Capital), and Rev1. Today also marks the launch
of HubiFi's Stripe Connector, enabling enterprise accounting
and finance teams to measure revenue to cash with the click of a
button.
Founded in 2023, HubiFi supports high-transaction companies'
accounting and finance teams to streamline complex financial data
management processes. In today's competitive business landscape,
current financial teams and operators utilize heroics and
heuristics to create a comprehensive analysis of revenue and margin
performance because 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 allows teams to
aggregate and disaggregate by any segment, swiftly identifying
operational drivers in their financials and capitalizing on often
overlooked opportunities.
With the capital infusion, HubiFi plans to build a foundational
team with a focus on product and engineering and add to the team
with CPA and accounting expertise. By bolstering its talent base,
HubiFi will gain deeper insights into customer needs and optimize
the product development roadmap.
Since its inception, HubiFi has bootstrapped and validated its
thesis, attracting a customer cohort within the high-transaction
enterprise landscape, particularly in digital D2C and
insurance.
By 2024, the startup 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. In addition, 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.
"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. said Jason Berwanger,
co-founder and CEO of HubiFi. "Accounting and finance teams can
rely on our automation, move beyond data management, and focus on
improving their businesses."
"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," said
David Wieland, Founder and Managing
Partner at Motivate VC. "We believe HubiFi is soon to become the
next must-have tool for CFOs."
"HubiFi has consistently demonstrated that existing ERP and
General Ledger solutions do not adequately adapt to the needs of
high-transaction businesses," said Amy
Nauiokas, Founder and CEO at Anthemis. "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."
For more information, visit HubiFi.
About HubiFi
HubiFi is a finance intelligence and data management platform
for built for high-transaction finance and accounting teams.
Founded in 2023 by Jason Berwanger
and Bill Kaper, HubiFi fully
automates accounting and continuous reconciliations, enabling
businesses to close an accounting period in hours instead of
weeks.
For more information please contact: press@hubifi.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hubifi-advanced-accounting-automation-solution-secures-2-5m-seed-funding-to-automate-revenue-management-for-high-transaction-enterprises-302214474.html
SOURCE HubiFi