Source:https:\/\/techcrunch.com\/2023\/06\/14\/paro-raises-25m-to-match-freelance-financial-experts-with-firms\/<\/a><\/br>
\nParo raises $25M to match freelance financial experts with firms<\/br>
\n2023-06-14 21:39:17<\/br><\/p>\n

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In 2015, Michael Burdick and Dan Wywrot, who\u2019d spent years working at large accounting firms, founded a startup \u2014 Paro<\/a> \u2014 to deliver finance and accounting solutions to businesses through a network of freelance talent. They say they were inspired by the lack of flexibility in traditional accounting firms to choose which projects to work on \u2014 and when to work.<\/p>\n

Paro\u2019s investors concur.<\/p>\n

Today, Paro announced that it raised $25 million in a Series C round led by Top Tier Capital Partners, bringing the startup\u2019s total raised to $67 million. Madrona Venture Group, Revolution Ventures and Sierra Ventures also participated in what Paro CEO Anita Samojednik described as an up-round with \u201cclean terms.\u201d<\/p>\n

Samojednik told TechCrunch that the cash will be put toward further developing Paro\u2019s platform, expanding its customer base and general R&D.<\/p>\n

\u201cThe overall goal of this round is to become the go-to resource for finance and accounting solutions and for businesses of all sizes, including enterprises,\u201d Samojednik said. \u201cGiven the continued traction we have seen within our business, the ongoing embrace of remote work and the increasing need for flexible business solutions, now was the right time to raise and double down on our efforts to push our unique offering to more enterprises and the value we bring to businesses and experts.\u201d<\/p>\n

Paro\u2019s platform uses algorithms to identify and recommend financial talent \u2014 e.g. accountants \u2014 to businesses. Customers can connect on-demand to accounting and finance experts, paying them only for the work that\u2019s needed.<\/p>\n

It\u2019s essentially like Fiverr, but exclusively for accounting and financial work.<\/p>\n

\u201cUnderstanding new ways to manage capacity and retain talent is key,\u201d Samojednik said. \u201cOne way to do that is by introducing alternative staffing methods that are flexible and dynamic. This can improve morale, reduce burnout, better address client demands and efficiently grow business.\u201d<\/p>\n

If you buy Samojednik\u2019s sales pitch, Paro is the silver bullet that the accounting industry so desperately needs. Many certified public accountant firms experience average annual turnover rates upwards<\/a> of 25%. According to one recent survey<\/a>, 99% of CPAs admit to suffering from chronic workplace stress. Another<\/a> finds that nearly two-thirds \u2014 62% \u2014 of accountants feel underpaid, with 60% saying they feel under-compensated given their qualifications and level of experience.<\/p>\n

But color me skeptical. There are always downsides to contract work \u2014 for starters, a lack of benefits. Then one wonders about the healthiness of the dynamic between salaried accountants and financial workers and freelancers.<\/p>\n

We\u2019ve asked Paro its pay rates and will update this article once we hear back.<\/p>\n

In any case, for better or worse, customers appear to be embracing the Paro platform. The company says revenue has tripled since its Series B in Q3 2021 while average client spend has doubled. Meanwhile, freelancers on the platform are on track to bill over $1 million through Paro this year, the company claims.<\/p>\n

\u201cParo\u2019s technology streamlines processes for those in need of talent \u2014 like hiring managers \u2014 to precisely match their business needs with Paro experts based on the exact experience and skill sets required to best achieve organizational goals,\u201d Samojednik said. \u201cFor experts, Paro\u2019s platform provides experts the productivity tools and insights to optimize their growing business, from pricing to performance, customer relationship management to ROI.\u201d<\/p>\n<\/p><\/div>\n

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Science, Tech, Technology<\/br>
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\nSource:https:\/\/techcrunch.com\/2023\/06\/14\/paro-raises-25m-to-match-freelance-financial-experts-with-firms\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/14\/paro-raises-25m-to-match-freelance-financial-experts-with-firms\/ Paro raises $25M to match freelance financial experts with firms 2023-06-14 21:39:17 In 2015, Michael Burdick and Dan Wywrot, who\u2019d spent years working at large accounting firms, founded a startup \u2014 Paro \u2014 to deliver finance and accounting solutions to businesses through a network of freelance talent. They say they were inspired by the […]<\/p>\n","protected":false},"author":1,"featured_media":35030,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-35029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\n