Sydney, Australia based accounting software provider Practice Ignition has raised $5m in Series A funding led by Equity Venture Partners. Practice Ignition sells cloud software that automates operations for accounting firms, and globally boasts a client base of 1,000 practices that process $100 million of payments each year for 40,000 businesses.
Founder of ASX-listed software and service giant TechnologyOneAdrian Di Marco was also another early backer and contributed to the latest round. He will join the board, along with Microequities Venture Fund founder Howard Leibman. Leibman said his firm was “truly excited” to be leading the latest $5 million round, which came after a seed round of $2.2 million secured over 2014 and 2015. “The product addresses a truly global market opportunity and, with a customer base already spanning some 20 countries, the team has clearly demonstrated its ability to scale activities we