Collective, a San Francisco, CA-based online back office platform designed for businesses-of-one, raised $8.65m in funding.
The round was led by General Catalyst and QED Investors with participation from Google’s Gradient Ventures and Expa and individual investors like Garrett Camp, founder of Expa and Uber; Vitor Lourenco, Expa partner and first Twitter designer; Darian Shirazi, general partner at Google’s Gradient Ventures; Scott Belsky, Adobe’s chief product officer and founder of Behance; Dylan Field, founder of Figma; Gokul Rajaram, executive at DoorDash / Caviar; Jared Hecht, founder and CEO of Fundera; Dan Lewis, founder and CEO of Convoy; and Topher Conway, co-founder of SV Angel.
The company will use the funding to bring the product to market, develop new technologies and products, build out additional community features and more.
Led by CEO Hooman Radfar, CPO Ugur Kaner and CTO Bugra Akcay, Collective provides an online concierge platform, designed to give self-employed people the technology, team and community they need to set up and scale their businesses. The company takes care of all the back office needs from business formation to accounting, bookkeeping, payroll and tax services in one online platform, guided by a team of advisors.
Key offerings include:
- Online Management Dashboard + 3rd-Party Software: All-in-one, user-friendly dashboard that combines banking information and access to third-party software like Gusto and QuickBooks
- S Corp Formation: Business incorporation services, including establishing an S Corp and more
- Accounting: Quarterly review of accounts and books with feedback on how to adjust salary and optimize deductions and expenses
- Bookkeeping + Administration: Ongoing guidance, along with transaction categorization, invoice preparation assistance, and monthly management reports
- Personalized Tax Advice: Preparation and filing of business and individual income tax returns and quarterly tax estimates
- Trusted Advisors: Real-time messaging platforms where members can easily reach their designated bookkeeper, tax advisor, and client relationship manager with questions
- Community Access: Community support and opportunities to build meaningful connections with potential collaborators and friends, along with informative and educational content about entrepreneurship, taxes, and more in the form of online guides, blog posts, and weekly newsletters
Collective began building its platform and team of financial advisors in 2019 and has already attracted a waitlist of thousands of businesses-of-one spanning industries including marketing, sales, design and engineering.
FinSMEs
29/09/2020