BodeTree, an online service aimed at helping small business owners better understand their finances, has closed on $2 million in Series A funding, led by its seed round investor Denver-based Greenline Ventures with participation from other, undisclosed angels. CEO Christopher Myers says the company did a soft close, as they may allow for some strategic investors to join in a “tag-along round” closing in July.
The company offers business owners an online dashboard-like interface that uses colorful charts, widgets and graphs to help track financial data, overall business health, valuation, goals, strategy, and more. It can also help companies working through the loan application or funding process, and it now connects with third-party partners, including Quickbooks Online and Xero, for example, for further integrations.
As of mid-April, Myers says BodeTree hit the 50,000-user mark, and now expects to more than double that in the months ahead. The target is to hit over 200,000 users in the next 12 months. “Selling new technology to small businesses is really hard so we’re super proud of this growth,” he says.
The site has also undergone a redesign that introduced the new funding and solution centers. The latter is a notable change as, before, BodeTree was only focused on delivering insights, not actions a business owner could take next.
BodeTree has raised $5 million to date.