By LAURA LOREK
Reporter with Silicon Hills News
The Austin-based company has since grown tremendously earning it a spot on Inc. 500’s list of fastest growing companies in the U.S.
And now it’s growing even more.
Consero, a finance and administrative software and services provider with 20 employees, Tuesday announced it has acquired Starting11, a Boston-based outsourced accounting company with 10 employees. Financial terms of the deal were not disclosed.
“Acquiring Starting11 enables Consero to expand our service delivery through the Northeastern United States, but also complements our own vision, said Bill Klein, Consero’s president and co-founder.
A year ago, Consero opened a Boston office. Starting11, founded by Jason Pulsifer, and the rest of the staff will join Consero’s operations. Pulsifer will become the company’s director of Northeast Business Development.
Consero, which received $5 million investment from Kayne Partners earlier this year, planned to use the funds to expand into new geographies, Klein said. The company currently works with more than 100 high growth startups that outsource their finance operations and processes to Consero. Its software provides those companies with easily scalable operations, Klein said. It also reduces the amount of time companies need to spend on financial and administrative data, he said.
Consero’s software provides each company with a customized dashboard, reports and forecasts that provide a snapshot of the short-term and long-term health of the business, Klein said.
“The small company finance economy has just been broken for a long time,” Klein said. “They need strategic guidance to help them in their planning.”
That’s the role Consero Global plays. It eliminates the inefficiencies or bottlenecks for companies to scale their business, Klein said. One person at a company acting as the chief financial officer isn’t able to do it all, he said.
Consero Global’s platform saves companies 20 percent to 40 percent on their financial and administrative costs, but more importantly, it saves a high-growth company a lot of time, Klein said.
“It’s the fact we can get them up and running on our platform in a few weeks,” he said. “And they feel more empowered. That’s pretty powerful. We provide them with information they need to make informed decisions about managing and growing their business.”