Corefino raises $13.6M for business accounting and finance
Yet another company focused on helping businesses with their accounting — and specifically with regulatory compliance — has received its first funding, with $13.6 million going to Sunnyvale, Calif. startup Corefino.
The firm joins a set of similar companies to receive funding in the past couple months: Risk manager Agiliance with $10 million, internal investigator Vantos with $10.6 million, and archiving and eDiscovery group Mimosa with $17 million.
The specific niche Corefino is going for is small- and medium-size businesses, which are often challenged by complex regulations like Sarbanes-Oxley.
Corefino’s investment was co-led by Bay Partners and Opus Capital Ventures. The company says it will use the money for development and marketing.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.