Calgary-based Athennian, a cloud-based business entity management technology company, has secured $33 million in Series B financing. Centana Growth Partners led the round, with participation from existing investors Arthur Ventures, Touchdown Ventures and others. Athennian’s software allows legal, finance and tax teams to manage and automate corporate structures.
CALGARY, Alberta, March 30, 2022 /PRNewswire/ — Cloud-based business entity management technology company, Athennian, announced today that it has raised $33 Million in its Series B round, led by Centana Growth Partners with participation from existing investors Arthur Ventures, Touchdown Ventures, and several private investors.
Founded in 2017, Athennian’s innovative software powers legal, tax and finance teams to seamlessly digitize, streamline and manage business entities and company structures. “We’re excited about this new investment round as it will help us support more clients and meet the increasing need for digital automation and corporate transparency demands required by governments and stakeholders. With Athennian, teams are transaction, audit, and compliance ready at a moment’s notice, ultimately increasing trust and transparency,” said Adrian Camara, co-founder and chief executive officer of Athennian.
“We are excited to be partnering with Athennian as they continue to be best-in-class in helping companies navigate complex reporting and corporate transparency requirements,” said Eric Byunn, co-founder and partner of Centana Growth Partners. “Athennian’s software is revolutionizing business by replacing fragmented spreadsheets, old corporate record keeping software, and minute book binders with a sophisticated system that consolidates ownership, governance, tax, compliance, and other elements of corporate identity into one simple, user-friendly platform.”
Over the last 24 months, Athennian has grown rapidly with a 500 percent increase in annual recurring revenue. In addition, the company has reached over 2,500 users and has nearly 400,000 business entities managed on its platform. “Private companies make up 99.9 percent of all business entities in the world, but managing and validating these entities when executing transactions has always been difficult — until now. Enabling companies to better manage hundreds or thousands of corporate entities as well as helping them easily achieve corporate transparency is one of the main drivers of Athennian’s growth,” Camara said.
With this latest investment, Athennian plans to continue taking a proactive approach to scaling its business with a strong company culture. “We plan to hire several hundred new team members over the next couple of years. During this next growth period, we’re focused on building a diverse, equitable, and inclusive workplace at scale. We are proud to have gender balance on our Board of Directors, and continue to work towards building an inclusive and representative organization across all departments,” said Josh Malate, co-founder and chief operating officer of Athennian.
Athennian is a modern, cloud-based business entity management platform that powers legal, finance and tax professionals to seamlessly manage and automate corporate entities. As an innovative business solution disrupting one segment of the business world, Athennian is helping clients reduce expenses and increase efficiency while also enabling them to be transaction, audit, and compliance ready at a moment’s notice. Business professionals use Athennian to automate workflows for ownership, governance, tax, and corporate compliance. Athennian’s headquarters is based in Calgary and has a second office in Toronto, with additional team members located across the U.S. To learn more, please visit www.Athennian.com.
ABOUT CENTANA GROWTH PARTNERS
Centana Growth Partners is a specialized growth equity firm that invests in the future of finance. We collaborate with companies across the entire financial services ecosystem, from institutions to fintech disruptors, to add strategic and long-term value to our portfolio companies. We empower entrepreneurs with a combination of capital, network, and expertise to accelerate the growth of our portfolio companies. The Centana team taps into decades of financial services expertise and insight to invest in companies that bring real value and innovation to the industry.