H.I.G. Capital News
H.I.G. Growth Partners
500 Boylston Street
Boston, MA 02116
H.I.G. Growth Partners Completes Investment in Accounting Seed
BOSTON – May 26, 2021 – H.I.G. Growth Partners ("H.I.G."), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce the completion of a strategic growth investment in Accounting Seed, Inc. (“Accounting Seed” or the “Company”), a rapidly growing cloud-based accounting and financial management software platform.
Based in Columbia, MD, Accounting Seed is a mission critical SaaS accounting platform that is purpose built for small to medium enterprises (“SME”). Built on Force.com, Accounting Seed offers a robust and scalable enterprise grade technology stack and enables its customers to fully pilot their organizations with one system of record and unified workflow – from sales lead through to the general ledger. The Company’s feature rich software platform also offers SMEs a highly flexible accounting and financial management solution that is easily customizable using click / no-code technology.
Accounting Seed plans to use the funding to execute its product roadmap, expand the team with key hires, make strategic acquisitions, and invest in additional sales and marketing activities to further accelerate growth. Tony Zorc, Founder and Chief Executive Officer of Accounting Seed commented, “We are thrilled to partner with an H.I.G. team that has had remarkable success with software investments. We have developed a unique solution for our customers over the past several years, and H.I.G.’s investment will enable us to expand our team and drive even greater innovations in our platform. We are excited for the journey ahead.”
“Accounting Seed represents an ideal opportunity to invest in a differentiated and mission-critical cloud-based accounting and financial management solution that helps SMEs enact their digital transformation strategies,” said Evan Karp, Managing Director at H.I.G. “We are excited to be partnering with the entire team at Accounting Seed and to help them execute on the Company’s development plans.”
Paul Hastings LLP served as legal counsel to H.I.G. on the transaction. Piper Sandler and Cooley LLP advised Accounting Seed on the transaction.
About Accounting Seed
Accounting Seed is a cloud-based accounting and financial management platform that transforms and empowers businesses. With its enhanced features, users run their business more strategically and have remote access to their financials at any time. Businesses can fully pilot all back-office functions in one environment by tapping the power of the Salesforce platform, eliminate uncertainties and errors with increased data visibility, and easily customize and configure the cloud-based environment to suit their unique business requirements and workflows.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $44 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.