Connected Accounting Cloud Positioned for Growth, Expansion in 2022
Seattle, WA – January 20, 2022 — Lockstep®, the leader in connected accounting, today announced it has been named a winner of the 2022 BIG Innovation Award by the Business Intelligence Group. The annual business awards program recognizes organizations that are bringing new ideas to life in innovative ways. Lockstep was also named winner of the TITAN Platinum award for Startup IT Company of the Year in June, and as a finalist for the SaaS Awards and the Finovate Awards, as well as the Cloud Awards, which will announce its winners in February.
Alongside their award accolades, Lockstep started the year with a Series A funding round led by Point 72, with participation from Clocktower Ventures, Revel Partners, and Avid Ventures. Lockstep also secured a strategic investment by AMEX Ventures, bringing the company’s total funding to $17 million. The award-winning automation provider dramatically grew its partner channel and client base, with eight product releases over the last year, including new customer self-service, paperless billing signup, and Salesforce integration, among others, on its mission to automate accounting workflows between companies.
Lockstep processed $3.2 billion in invoices in December 2021 alone. Lockstep was acknowledged by Gartner in the “Market Guide for Integrated Invoice-To-Cash Applications,” and was named a Major Player in the IDC “MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Receivable Automation Applications for Midmarket 2020-2021 Vendor Assessment.”
After starting 2021 with 28 employees, the Seattle-based company closed out the year by tripling its headcount with more than 110 full-time global employees to date. This growth included bringing on board an Executive Vice President (EVP) of customer success and an EVP of marketing.
Peter Horadan, CEO and Cofounder of Lockstep was also recently listed as a Best CEO of the Year by The Silicon Review. “In 2022, we are going to double down on our progress so far on our mission of connecting the world’s accounting teams.,” said Horadan. “Accounting teams of all sizes have suffered for far too long with inadequate tools, and I’m thrilled with our products of building a better way for accounting teams everywhere to do the work they do every day.”
For more information on Lockstep, please visit: https://lockstep.io/
About Lockstep:
Award-winning Lockstep® connects the world’s accounting teams to help them work better together. The pioneer in Connected Accounting, Lockstep develops tools and platforms for fintech developers and accounting teams to automate workflows between the accounting systems that are at the heart of all businesses. For developers, Lockstep API is the easy, modern platform for building fintech applications that work with their customers’ accounting systems. For accounting teams, Lockstep’s applications automate accounts receivable and accounts payable workflows improving efficiency and cash flow. Based in Seattle, Lockstep has won numerous awards including the 2022 BIG Innovation Award and 2021 Top Cash Management Solution by CFO Outlook. Visit www.lockstep.io for more information.
