# Lockstep Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lockstep-network

- Industry: Software
- Headquarters: Seattle, US
- Website: www.lockstep.io
- Total disclosed funding: $13M
- Latest round: Series A (Aug 11, 2021)
- Investors on record: 4

## About

Lockstep Network, Inc. is a US-based company that provides a comprehensive financial automation platform, focusing on optimizing accounts receivable processes and enhancing cash flow management for businesses across various industries.Founded in 2019 and headquartered in Seattle, US, Lockstep Network, Inc. offers a platform aimed at improving financial transaction processes. The company has secured USD 2.5 mn in Series A funding led by American Express Ventures in August 2021, marking its latest investment round and total amount raised. The firm has completed 2 deals to date. The founder's history is not publicly detailed.Lockstep specializes in providing a financial automation platform designed to enhance cash flow management and optimize accounts receivable processes for businesses. Their core offering focuses on streamlining communication between finance teams and their clients, allowing for seamless invoice delivery, payment tracking, and dispute resolution. Lockstep's platform integrates with existing accounting systems, offering features such as automated reconciliation, reporting tools, and real-time analytics to improve visibility into cash flow. The company targets various industries, including manufacturing, retail, and professional services, serving a diverse client base that includes mid-sized and large enterprises across North America and Europe. By addressing the complexities of financial transactions, Lockstep aims to reduce operational inefficiencies and enhance the overall user experience for finance professionals and their clients.Lockstep generates revenue primarily through a subscription-based model, where clients pay for access to its software solutions. The transactions typically involve annual or monthly subscriptions, allowing businesses to utilize the platform's full capabilities, including automation tools and customer support. For example, a company may subscribe to Lockstep's services to manage its accounts receivable, offering its clients smoother invoice processing and payment functionalities. The pricing structure is tiered based on the number of users and additional features selected, ensuring that businesses can choose a plan that aligns with their operational needs. The recurring revenue model ensures a stable income stream while fostering long-term relationships with clients who rely on the platform for enhanced financial management.Following the recent funding round in August 2021, Lockstep Network, Inc. is focused on expanding its workforce in product development, engineering, and marketing sectors. This strategic move aims to bolster its capabilities and enhance service delivery, catering to its growing client base. While specific new products or geographic market expansions have not been disclosed, the company is positioned to leverage its recent funding for future growth opportunities.

## Funding rounds

- Series A, Aug 11, 2021, $2.5M — American Express Ventures
- Series A, Feb 3, 2021, $10M — Revel Partners, Point72 Asset Management, Clocktower Technology Ventures

## Investors

- Revel Partners (https://capitalatlas.ai/funds/revel-partners) — Series A
- Point72 Asset Management — Series A
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Series A
- American Express Ventures (https://capitalatlas.ai/funds/american-express-ventures) — Series A