DebtBook, a Charlotte, NC-based debt, lease, and subscription management software company, closed a $12.5 million Series A-1 funding.
The round was led by Elephant Partners, with support from Meeting Street Capital and CreativeCo.
This investment will help accelerate the development and delivery of DebtBook's product roadmap and offer modern and elegant solutions to finance teams in the public sector across the United States.
DebtBook helps finance teams in local government, higher education, and healthcare manage their debt, leases, and subscriptions in the cloud, allowing them to drive efficiency, collaboration, and transparency within their organizations.
Built by and for the public sector, DebtBook’s platform simplifies debt, lease, and subscription management, ongoing compliance, and financial reporting, including the implementation of new accounting standards like GASB 87 and GASB 96.
"Our public sector customers wake up every day trying to figure out how to deliver their communities' most important projects in the face of shrinking budgets and shifting regulatory requirements," said Tyler Traudt, CEO and Co-Founder of DebtBook. "At DebtBook, we wake up every day excited by the challenge of delivering world-class software that empowers these public servants to do their best work. This investment will accelerate our ability to deliver on our promise to build the modern tools the public finance industry deserves."
Company: Fifth Asset, Inc.
Round: Series A-1
Funding Month: August 2023
Lead Investors: Elephant Partners
Additional Investors: Meeting Street Capital and CreativeCo
Company Website: https://www.debtbook.com/
Software Category: Debt, Lease, and Subscription Management Software
About the Company: DebtBook is a cloud-based debt, lease, and subscription management software platform for finance teams in local government, higher education, and healthcare. Built for local governments, nonprofits, and similar organizations, DebtBook empowers finance teams to manage and track debt, leases, and subscriptions in the cloud, automatically generate year-end financial reports following the latest accounting standards, and easily collaborate with internal teams and external partners. The company's mission is to empower public finance teams nationwide with world-class software for debt, lease, and subscription management.