Growth Street Partners said Aug. 6 that it acquired a minority stake in Suralink. Financial terms weren’t announced. Suralink provides workflow software for the accounting industry.
SALT LAKE CITY, Aug. 6, 2019 /PRNewswire/ — Growth Street Partners today announced a minority growth equity investment in Suralink, the leading provider of workflow software for the accounting industry. Hundreds of the country’s leading accounting firms already trust Suralink to deliver significant efficiencies, secure client engagements, and improve client experience. Suralink will use the investment to continue to invest in its product and team.
“As a rapidly growing and profitable business, we had no intention of raising capital until we met with Growth Street Partners,” said Tim Ballantyne, CEO and co-founder of Suralink. “Growth Street’s proven track record of helping founders from industry scale their vertical SaaS businesses really got the team excited about partnering to accelerate Suralink’s growth, invest in its people and industry-leading product, and even consider add-on acquisitions to deliver even greater value to customers and partners.”
Founded in 2014 by Tim Ballantyne, Dave Geurts, and Joe Ballantyne, the company’s SaaS solution is already used by over 250 accounting firms, approximately 10,000 accounting firm users, and over 100,000 end client users throughout the country and internationally. The software delivers significant value to both its accounting customers and their clients.
“Growth Street is thrilled to partner with Tim, Dave, Joe, and the growing Suralink team,” said Nate Grossman, Co-Founder of Growth Street Partners. “Suralink’s solution delivers significant operational efficiencies enabling customers to take on more engagements, win more competitive business, generate more profit per engagement, and deliver a better audit, tax, and consulting experience to their clients.”
“Borne out of his experiences as an auditor and corporate controller, Tim and his co-founders built intuitive software that customers truly love. The company’s rapid growth and extraordinary Net Promoter Score speak to the real pain point and the power of Suralink’s solution,” added Steve Wolfe, Co-Founder of Growth Street Partners.
In conjunction with the investment, Growth Street Partners will join the Board of Directors.
Suralink is the leading workflow software for accounting firms. Thousands of accountants from the nation’s leading accounting firms use Suralink’s SaaS platform to manage workflows related to PBC request lists, secure document transfer, deliver internal operational efficiencies, and improve client experience. The Suralink platform combines a dynamic PBC list, assignment workflow, and secure file transfer with real-time insights into client engagements to deliver a more efficient and organized engagement. For more information, please visit www.suralink.com.
Growth Street Partners
Growth Street Partners provides early growth capital to vertically-focused, rapidly growing SaaS and technology-enabled services companies located in underserved U.S. markets. The firm partners with founders who have personally lived through the problems their businesses solve. Existing investments include Pear Deck, ChildCareCRM, Visual Lease, Hotel Effectiveness, and Suralink. The firm also played a significant role in ChildCareCRM and Hotel Effectiveness completing add-on acquisitions of Just Fill Out and LobbyLights, respectively. For more information, please visit www.growthstreetpartners.com.
SOURCE Growth Street Partners