With the help of $60 million in funding, ScaleFactor will try to position itself as a one-stop-shop for the back-end needs of its SMB clients:
ScaleFactor will use the new funding to try and position itself as a one-stop-shop for the back-end needs of its SMB clients.
Demand for back-end and accounting software from SMBs is high, giving ScaleFactor a large addressable market. Fifty-eight percent of SMBs currently use accounting or back-end software platforms, and report time savings and fewer mistakes as a result, according tofrom ScaleFactor. Additionally, 76% of SMBs don't plan to hire a CFO in the future, per the same research. In other words, the need for a software-based solution to managing finances isn't going anywhere.
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