Platform Accounting Group, a Salt Lake City, UT-based company that acquires and supports the operation of boutique accounting and professional services firms, raised $85M in funding.
The round was led by Cynosure Group, with participation from early investors Swell Capital and Peery Capital.
The company intends to use the funds to continue building on its existing footprint of 28 offices as well as its current service offering.
Led by CEO Reyes Florez, Platform acquires and supports the operation of boutique professional services firms that are focused on providing tax compliance, attest, outsourced accounting, ERP consulting, and soon wealth advisory services to individuals and small businesses. It is a national group of professional services firms created to preserve the dynamics of small firm cultures while incorporating the technology and connectedness of the 21st century. The company offers local teams enterprise-grade resources, capabilities and support so they can focus their time and energy on personal, high-touch relationships with their clients.
Commenting on the news, Reyes Florez said: “Without much needed capital, operational support and staffing resources, it’s becoming harder and harder for these firms to compete and thrive. Platform believes boutique firms play a critical role in local economies and we take a lot of pride in seeing them grow, evolve and succeed.”