Lockstep announces strategic investment from Amex Ventures

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SaaS News - Lockstep-Announces-Strategic-Investment-From-Amex-Ventures (source: SaaS Industry)
At a Glance

Lockstep, a connected accounting platform, has received a strategic investment from Amex Ventures. The money will be utilized to hire more product, engineering, and marketing specialists, effectively completing the A+ round. Since its inception, Lockstep has raised a total of $17M in funding.


Lockstep, a connected accounting platform, has announced a strategic investment from Amex Ventures. The money will be used to hire more people in product, engineering, and marketing, bringing the A+ round to a close. In February of this year, Lockstep announced its Series A round led by Point72 Ventures and included Clocktower Ventures, Revel Partners, and Avid Ventures. 

Lockstep has already raised $17 million in total investment since its start. The money will be used to hire more people in product, engineering, and marketing, bringing the A+ round to a close. In February of this year, Lockstep announced its Series A round, which was headed by Point72 Ventures and included Clocktower Ventures, Revel Partners, and Avid Ventures. Lockstep has already raised $17 million in total investment since its start. 

Lockstep has hired an Executive Vice President (EVP) of customer success, an EVP of marketing, and a VP of finance to assist lead the charge as the Seattle-based firm strives to double staff by the end of the year.

“We’re thrilled that Amex Ventures is joining our mission to transform the way accounting departments work together. Our rapid growth demonstrates the desire of accounting departments to have efficient, trusted connections with their trading partners.”

Peter Horadan, CEO and co-founder at Lockstep

Most accounting departments still rely on extremely manual email and spreadsheet procedures to handle cash flow and working capital. According to a recent Lockstep poll, over 90% of accounting departments’ email accounts interacting with trade partners have no automation to optimize their cash management routine. Lockstep automates processes, bookkeeping, payments, and data sharing to modernize accounts receivable (AR) and accounts payable (AP).

“Lockstep seeks to modernize businesses where it is needed most – accounting and finance departments. By connecting the Accounts Receivable and Accounts Payable departments, Lockstep empowers companies to efficiently control their payments, cash flow, and working capital. We are pleased to support Lockstep in their mission to streamline corporate payments and reconciliation.”

Lindsay Fitzgerald, managing director at Amex Ventures
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