Austin, Texas-based Consero Global Solutions, which provides cloud-based outsourced finance and accounting services, has raised $5 million in funding. The investor was Kayne Partners.
AUSTIN, Texas–(BUSINESS WIRE)–Consero Global Solutions (“Consero”), a leader in cloud-based outsourced finance and accounting services, announced today that it has closed a $5.0 million investment by Kayne Partners. The growth capital investment will enable Consero Global Solutions to further invest in its suite of software and services, expand into new geographies and grow its infrastructure. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P., a leading alternative investment management firm with approximately $29 billion in assets under management.
Headquartered in Austin, Consero Global Solutions provides finance and back office outsourced services utilizing a cloud-based technology platform to deliver more insightful financial information and scalable back office services to customers ranging from SMBs to enterprise-level businesses.
“With this collaboration with Kayne Partners, we can more rapidly deploy enhancements to our software and services as well as expand our geographic reach,” said Scott Tynes, Co-Founder & CEO of Consero. “Providing customers with even deeper visibility into the financial performance of their business as well as greater back office reliability and scalability so they can achieve their company goals is truly what gets everyone at Consero excited.”
“We see a continued upward trend for the use of cloud-based outsourced services to fulfill non-core business functions for growing companies,” said Leon Chen, Vice President, Kayne Partners. “Consero is well positioned to capitalize on the growing demand for outsourced finance and accounting services through a unique combination of premium software solutions and experienced industry professionals.”
“Kayne Partners is excited to work with a talented management team which is building innovative products for underserved markets. Consero’s offerings provide a strong value proposition for its customers and our investment will help the company continue to build upon its solutions and reach new customers,” said David Walsh, Managing Partner, Kayne Partners.
About Consero Global Solutions
Consero was founded in 2006 with the vision of providing companies with a superior alternative to building and maintaining an in-house finance function. Consero’s services and integrated software help high growth companies generate more insightful financial information and greater efficiency in their financial operations. The Black Book of Outsourcing recognizes Consero as the number one provider in the finance & accounting outsourcing industry. Consero is headquartered in Austin, Texas and is privately held. To learn more about Consero and how it provides financial and accounting outsourced solutions, visit www.conseroglobal.com or call 512-535-6553.
About Kayne Partners
Kayne Partners is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $600 million in platform investments and add-on acquisitions. Kayne Partners seeks to partner with driven entrepreneurs as a non-control minority investor and provide transformative capital to these high growth companies. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P.
About Kayne Anderson Capital Advisors, L.P.
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, growth private equity and distressed municipal opportunities. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above-average, risk-adjusted investment returns. Kayne manages approximately $29 billion in assets for institutional investors, family offices, high net worth and retail clients and employs over 270 professionals in eight offices across the United States.