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Thu, Jul 22, '21

CEO Blog: Anduin has raised a $14M Series Seed to unlock time and money for professional service workers

Today is an exciting day for Anduin’s customers. We have secured $14M in funding from great venture capital partners in order to continue building out our suite of products for professional service workers. 

I remember being a part of PwC’s transformation efforts about half a decade ago and being shocked at the limited software options for the firm to operate its own internal business on. We had to choose between either legacy solutions tailored to professional service firms or more modern software that was not tailored to our industry. The legacy solutions had been underinvested in for years and did not deliver the experience PwC leadership wanted to provide to their employees. The decision was made to spend tens of millions of dollars trying to customize a more modern software. Why did a firm need to choose between those two options, I wondered? 

Fast forward to 2021 and firms no longer have to make that tradeoff, thanks to our team here at Anduin and to our early customers who worked with us in building out our initial solutions. Anduin’s software is so compelling that in less than a year we have signed over a dozen top-400 Accounting firms as clients— and we’re just getting started. Accounting firms’ leadership realize that in a post-COVID world they can’t keep operating the same as before. The rewards for those early adopters who chose to switch to Anduin are massive: a 41% increase in collections, and 3X the amount of online payments collected year over year, to name a couple of data points. And there are plenty more rewards to be reaped in the near future.

We are thrilled that amazing investment partners such as Revolution Ventures (who is leading the round) joined with Relevance Ventures and Merian Ventures to provide the funding to get our products into even more customers’ hands. And equally as important as the funding, these capital partners are aligned with our values and mission. We believe that building a successful company is more than the numbers; it includes building the right way that is honoring to our customers, teammates, and society. 

This round of funding brings with it some exciting additions to our Board of Directors. Tige Savage from Revolution will be joining our Board, along with Ellen Choi (Anduin co-founder and head of product). Edgardo Pappacena (former PwC Chief Strategy Officer), Don Rainy (Grotech Ventures), and Graham Ober (Revolution Ventures) will be joining as Board observers. These intelligent, forward-thinking Board members and observers will be key to Anduin’s continued growth and impact on the professional service industry. More details in the full press release.

Of course, providing amazing software to our customers wouldn’t be possible without the “A-Team” here at Anduin. We are blessed to be surrounded by so many talented people who choose every day to wake up and a) be courageous b) trust and c) build. Anduin is truly greater than the sum of its parts. 

I chose to become a professional service worker to help my clients and to work on solving interesting problems. After almost a decade of being frustrated with the tools at my disposal and feeling hamstrung by the internal software I was operating on, I’m thrilled that Anduin has made those problems obsolete. Anduin has built what I wished I had. In fact, the data and insights Anduin delivers would have made me more efficient and deliver higher value to my clients. In 2021, I believe that has gone from a “nice to have” to “must have” to stay competitive. 

- Justin 

See how Anduin can help you HERE

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