AUSTIN, Texas--(BUSINESS WIRE)--Place, maker of the agile finance platform built for the entire company, today announced that it has raised $3.25m in additional capital, bringing its total invested capital to nearly $10m. The latest round was led by Geekdom Fund with participation from new investors including 7BC Venture Capital and existing angel investors.
"Place's founders, Brandon and Kabe, have built an incredible product and team to solve a problem they experienced firsthand as they built, scaled, and exited their last company. We are excited to continue to support Place as they expand their product for the SMB and midmarket, delivering even more value for their customers," said Mike Troy, Managing Director of the Geekdom Fund.
Place also announced expanding its senior management team and is actively recruiting a VP Marketing and VP Engagement. These additions enable Place to build upon its strong market momentum and accelerate investments with product development, enhance customer success and delivery programs, and continue other innovation and growth efforts.
“We built Place to solve the biggest challenges our team has experienced in our 15 years running SaaS companies. When we released the Revenue Lifecycle Management product last year, it fundamentally changed how businesses can operate and scale,” said Brandon Metcalf, CEO and Founder of Place. “Our mission is to help early-stage SaaS companies succeed, so we’ve combined revenue management with financial forecasting and planning, inside the same operating system that sales, marketing, and support teams use today. It’s enabling our customers to generate usage and subscription revenue faster, make their capital more efficient, and get more agile in their decision-making. This funding and these new executive roles are critical to us accelerating that mission.”
Founded in late 2018 by serial entrepreneurs Brandon Metcalf and Kabe VanderBaan, Place offers a software solution that is designed to help early-stage software companies effectively operate their business. The complete solution joins together the flexibility and automation of revenue lifecycle management with the financial forecasting, cash management, workforce planning, and scenario modeling that businesses require to stay competitive and be more agile in their decision-making. For more information, please visit: www.placetechnology.com.
About Geekdom Fund
Geekdom Fund is an early-stage, B2B venture fund that backs entrepreneurs in Texas and beyond who are delivering innovative and disruptive solutions to small, medium, and enterprise-level customers. https://geekdomfund.com/
About 7BC Venture Capital
7BC Venture Capital is a venture capital firm focused on funding and supporting technology startups that automate human workflows with software and connect them to data to unlock value for customers. 7BC is unique because of its diverse set of strategic individual investors backing its funds that support portfolio companies across all stages of growth accessing talent, customers, partners, investors, and buyers resulting in successful high-growth transformational companies. https://7bc.vc/