Texas-based intelligent finance and automated accounting platform ScaleFactor has landed $60 million in Series C financing round.
The funding was conducted by U.S. investment manager Coatue Management, which as part of the financing round will join ScaleFactor's board of directors.
Existing investors, Bessemer Venture Partners, Canaan, Broadhaven Ventures, and Firebrand Ventures as well as new investors Vulcan, Stripes Group, NextPlay Capital and others, also joined the round.
ScaleFactor intends to use the money raised from the funding to expand its business operating system capabilities and offer new solutions to small and midsize business.