HubiFi, an advanced accounting automation solution, has secured $2.5 million in seed funding to enhance revenue management automation for high-transaction enterprises.
Date – 06-Aug-2024
HubiFi, an advanced financial intelligence and revenue recognition platform, has announced a successful $2.5 million seed funding round led by Motivate Ventures, Anthemis (with support from Foxe Capital), and Rev1. The funding will accelerate the development of HubiFi’s Stripe Connector, a tool designed to streamline revenue measurement and cash management for enterprise accounting and finance teams with just a click.
Founded in 2023, HubiFi is dedicated to transforming how high-transaction enterprises manage their financial data. Its solution addresses common challenges in revenue and margin analysis, where traditional methods often fall short, leading to revenue leakage and margin erosion. HubiFi’s automated system enables detailed aggregation and disaggregation of financial data, helping teams pinpoint operational drivers and uncover hidden opportunities.
The new capital will support HubiFi in expanding its team, focusing on product development and engineering, and bringing on board experts in CPA and accounting. This will enhance the company’s ability to understand customer needs and refine its product roadmap.
Since its bootstrapped launch, HubiFi has validated its approach and built a strong customer base within high-transaction sectors, including digital D2C and insurance. The recent integration with Stripe allows HubiFi to handle complex revenue recognition scenarios for users of subscription management, billing, and payment products, while its partnership with Paystand emphasizes its strength in revenue recognition and analytics, complementing Paystand’s payment solutions.
“HubiFi stands out from existing ‘Revenue Management’ tools by supporting complex scenarios such as mid-stream changes, multiple product lines, backdating, and disputes,” said Jason Berwanger, co-founder and CEO. “Our automation enables accounting and finance teams to move beyond data management and focus on enhancing their businesses.”
“Motivate is excited to support Jason and Bill in addressing a crucial problem affecting numerous businesses,” said David Wieland, Founder and Managing Partner at Motivate VC. “We believe HubiFi will become an essential tool for CFOs.”
“HubiFi’s innovative data-mapping capabilities quickly address gaps left by traditional ERP and General Ledger solutions, showcasing a swift and impactful enhancement to business processes,” said Amy Nauiokas, Founder and CEO at Anthemis.
