As any CFO can attest, corporate finance is extraordinarily complicated. From tax preparation, to financial controls, to cash flow estimation and more, the finance department of any major company often has to turnaround sophisticated analyses with extreme attention to detail — and quick.
Most of the time, businesses outsource at least part of those financial functions to the big four accounting firms or to smaller firms, but as with all consulting firms, getting contracts signed and work underway can take significant time and effort.
That’s where Paro comes in. The Chicago-based expert marketplace wants to provide corporate clients with on-demand sophisticated expertise across a range of financial functions.
The company announced today that it has raised a $10 million series “A” venture capital round led by Mark Fernandes of Sierra Ventures. Existing investors Revolution Ventures, KGC Capital, and Tom Williams also participated.
When we last checked in with Paro 18 months ago, it had just raised a $5 million series A from Clara Sieg at Revolution. The company said that it is now retrospectively dubbing that round a series “AA” round, since round sizes have increased “exponentially.” Since that time, the marketplace has continued to expand, and CEO and co-founder Michael Burdick says that the company is increasingly zero-ing in on the types of clients that best match the platform’s offerings.