AI-powered accounting automation solutions provider FinQuery announced Oct. 2 that it has received a majority investment from TA Associates, a Boston-based global private equity firm.
Financial terms of the deal weren’t disclosed.
Atlanta-based FinQuery said this partnership aims to accelerate its growth as the company continues its mission of automating accounting in a unified subledger platform.
TA’s majority investment will support FinQuery’s expansion into new capabilities, continued product innovation, and strategic growth initiatives, including opportunities to broaden the platform through both organic development and acquisitions, according to a media release.
Founded in 2011 and formerly known as LeaseQuery, FinQuery serves more than 8,700 companies and organizations, enabling controllers and CFOs to achieve greater compliance, control, and efficiency by automating key accounting tasks.
By transforming contracts into streamlined accounting workflows, FinQuery enables finance leaders to work smarter, move faster, and make confident business decisions, the company said.
“Our customers have always been our focus, and this partnership with TA allows us to serve them in bigger and bolder ways,” FinQuery CEO Joe Schab said in a statement. “As accounting and finance teams face increasing complexity, the need for a unified subledger platform has never been greater. With TA’s support, we’re accelerating our ability to innovate, scale, and deliver on our vision to redefine the controllership for organizations everywhere.”
As part of the transaction, members of FinQuery’s leadership team will invest alongside TA, reinforcing continuity and a shared commitment to the company’s next phase of growth.
“FinQuery has established itself as a category leader in accounting automation with advanced AI-powered solutions, a highly accomplished leadership team, and a strong base of more than 8,700 customers. Our decision to become a majority investor, alongside management’s co-investment, reflects our deep conviction in FinQuery’s vision and market opportunity,” said John Triebsch, senior vice president at TA, and Mike Libert, managing director at TA, in a joint statement.
Evercore served as exclusive financial advisor and Latham & Watkins LLP served as legal advisor to FinQuery LLC. Jefferies LLC and Shea & Co. served as financial advisors to TA.
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