Wynnewood’s Exactor Secures $3.3M in Private Equity Financing

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Jonathan Barsade is the founder and CEO of Exactor.--photo via Philly.com

Exactor the tax software company from Wynnewood has managed to secure $3.3 million in funds through private equity financing, writes Michelle Caffrey for Philadelphia Business Journal.

The 40-person company, which has been steadily growing since it was founded a decade ago, has created a sales tax suite which provides end-to-end, automated tax solutions for small and medium sized businesses.

While the company declined to disclose the investing entity, Exactor’s CEO, Jonathan Barsade, said that it is one of the largest accounting firms and they have been working with them for several years.

“They decided they liked the pace, what we’re doing, how we’re doing it, and they wanted to get into a strategic alliance with us,” said Barsade.

Barsade also noted that the market is ripe for the type of services Exactor offers, considering that they focus on an underserved customer base, small and medium sized businesses.

“It’s a high-growth market because it’s a nascent industry, and there are only a couple of providers who can provide this kind of automation for the SMB market,” he said.

Read more about the investment at Philadelphia Business Journal by clicking here.

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