OneUp raises $ 2 million to attract VSEs with its automated accounting management solution
OneUp, a software publisher specializing in administrative and accounting management based in San Francisco, announces that it has raised $ 2 million from its historical investors, XAnge and Altos Ventures.
“This new investment in OneUp was (…) obvious to us as the team’s vision for the automation of accounting and administrative tasks is clear. We are convinced of their ability to become a leader in this $ 50 billion market»Explains Mathias Flattin, Deputy Director Venture Capital of XAnge in a press release.
Initially launched under the myERP.com brand, the OneUp company boasts 700,000 users in 50 different countries, and is targeting a potential market of 500 million VSEs and SMEs worldwide. The application allows companies that use it to automate tasks such as invoicing, accounting, or even managing their stocks. It also offers a CRM functionality.
To market its solution, it relies on a network of prescribers made up of around one hundred accounting firms. It has also become known through partnerships with Google Apps, Square or Wix.
In its market, the company finds itself in competition with all accounting software, which is poorly suited to the needs of small businesses, but also with many players who have developed accounting management software. We think in particular of the application Wave, or to DocuPhase which automates all of the company’s business processes (accounting, HR, CRM). Many other players are also positioned in this market.
The objectives of the Start-up
With this new fundraising, OneUp wishes to expand its marketing teams, and thus accelerate its commercial development.
Founder: Francois Nadal
Seat: San Francisco
Creation date: 2010
Competitors: Wave, DocuPhase, MoneyPenny.me