InDinero

Last updated
inDinero
Company type Private [1]
Industry Software as a service
Founded2009;15 years ago (2009)[ citation needed ]
Key people
 Jessica Mah (Founder, CEO), Andy Su (Founder, Board Member)
Products Accounting software, Financial software, Virtual CFO, Bookkeeping, Tax return preparation
Number of employees
219 (2019)
Website www.indinero.com

inDinero is an accounting software and services company providing accounting and financial software. [2] Founded in 2009 by Jess Mah, Andy Su, and Andrea Barrica, inDinero graduated the startup incubator, Y Combinator in 2010. [3] On May 8, 2018, inDinero acquired San Jose-based firm tempCFO. [4] On February 1, 2019, inDinero acquired a second company, mAccounting, an Indianapolis-based accounting and tax firm. [5]

Contents

History

Jessica Mah started the initial development of inDinero at age 19 after meeting her co-founder Andy Su at UC Berkeley. Upon graduating from Y Combinator in August 2010, inDinero gained angel attention. [6] In February 2013, inDinero received the largest of a three-fund investment from FundersClub in their initial investment in enterprise software companies. [7]

By 2014, the company had 75 employees. [8]

Two years later, in February 2015, inDinero closed its largest funding round, a Series B round worth $7 million. [9] [10] Similar competitors include Bench, Botkeeper, and BooksTime. [11]

In March 2015, the company opened an office in Portland, Oregon. [12] [13]

Software

inDinero's software combines accounting, tax filing and payroll management for small businesses with up to 100 employees. [14] [15] [16] In addition, accountants and tax specialists manually review customers' financial statements. [17]

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References

  1. ↑ "Company Overview of inDinero, Inc". Bloomberg Businessweek.
  2. ↑ "10 Brilliant Apps Small Businesses Should Use". Forbes.
  3. ↑ "Y Combinator's Demo Day Keeps Growing And Growing…". "The Wall Street Journal.
  4. ↑ "inDinero Acquires tempCFO to Create an Outsourced Seed-to-Exit Financial Solution for High-Growth Startups". Yahoo Finance.
  5. ↑ "Indianapolis-based mAccounting acquired by Oregon firm". Indianapolis Business Journal.
  6. ↑ "The New Class". Forbes.
  7. ↑ "FundersClub Backs Enterprise Software". Yahoo Finance.
  8. ↑ Gardella, Adriana (2014-12-31). "A Reversal for InDinero, a Once-Struggling Accounting Software Start-Up". The New York Times. ISSN   0362-4331 . Retrieved 2023-01-26.
  9. ↑ "After Relaunching As A Full-Service Accounting Startup, inDinero Raises Another $7M". TechCrunch.
  10. ↑ Portillo, Caroline McMillan (2015-06-30). "When her VC-backed startup got down to its last $150K, she made a drastic change". www.bizjournals.com. Retrieved 2023-01-26.
  11. ↑ "inDinero Competitors". Alexander Daniels.
  12. ↑ Rogoway, Mike Rogoway (2015-03-27). "SF startup will make Portland 'primary office,' hire 50". The Oregonian. Retrieved 2023-01-26.
  13. ↑ Rogoway, Mike (2016-04-15). "Accounting startup InDinero: Portland office to double". The Oregonian. Retrieved 2023-01-26.
  14. ↑ Kim, Eugene. "This 24-Year-Old High School Dropout Is Tackling A Problem Every Startup Hates To Deal With". Business Insider. Retrieved 2023-01-22.
  15. ↑ Rogoway, Mike (2015-03-27). "SF startup will make Portland 'primary office,' hire 50". The Oregonian. Retrieved 2023-01-22.
  16. ↑ Ha, Anthony (2015-02-18). "After Relaunching As A Full-Service Accounting Startup, inDinero Raises Another $7M". TechCrunch. Retrieved 2023-01-22.
  17. ↑ Kim, Eugene (2014-11-27). "This 24-Year-Old High School Dropout Is Tackling A Problem Every Startup Hates To Deal With". Business Insider. Retrieved 2023-01-22.
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