# Karbon

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/karbon

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.karbonhq.com
- Total disclosed funding: $37M
- Latest round: Series B (Dec 15, 2021)
- Investors on record: 3

## About

Based in California, US, and founded in 2014 by Australian entrepreneurs Stuart McLeod and John Freeman. Karbon, Inc. operates as a work management software company intended for accounting firms. The firm has offices in New Zealand, the UK, and Sydney, Australia. In August 2021, Karbon, Inc. raised USD 5 million in venture debt funding from CIBC Innovation Banking.

Karbon. Inc. sells cloud-based software to small and mid-tier accountants to manage workflows, communicate, and deliver exceptional client work. Karbon combines email, discussions, tasks, and powerful workflows to keep everything you need to get work done. The company also provides services such as training, practice advisory, and consulting.

The company generates revenue by charging monthly subscription fees which start at USD 49 for the team, USD 69 for the business, and custom pricing for the enterprise plans. Karbon, Inc. also charges service fees of USD 999 for Bulk Work Creation and Data Migration Package, USD 1999 for Process Package, and USD 2999 for Training Package. Karbon's 55 percent revenue came from US mid-tier accounting firms, but about half of its 20 staff are in a Sydney product development office and about 35 percent of revenue derives from Australia.

Karbon, Inc. plans to use its venture debt funding to accelerate the development and enhancements of its product set and grow its team in the US, Canada, Australia, New Zealand, and the UK.

## Funding rounds

- Series B, Dec 15, 2021, $27M — Tidemark
- Series A, Feb 19, 2021, $8.9M — Five Elms Capital
- Seed, Dec 7, 2015, $1.5M — Blackbird

## Investors

- Blackbird (https://capitalatlas.ai/funds/blackbird) — Seed
- Five Elms Capital (https://capitalatlas.ai/funds/five-elms-capital) — Series A
- Tidemark (https://capitalatlas.ai/funds/tidemark) — Series B