Exclusive: Peloton Cofounder Launches Software Company To Shake-Up A New Industry
Summary
Aimed at CFOs of fast-growing companies, the pair are out to disrupt the sleepy world of financial software using the same kind of slick, user-friendly design that helped Peloton revolutionize the exercise industry. Innovators aren’t touching it, and it’s wrongly seen as a boring, solved problem.” The pair thinks existing accounting software is lousy, outdated, and ignores fast growing startups and mid-sized companies. On the other—complex ERP (Enterprise Resource Planning) systems from software giants like SAP, Oracle, and Microsoft can cost millions of dollars and require an army of consultants and technicians to run. With dynamic design, cloud computing, a collaborative interface, and live data, Avise can serve as a robust accounting ledger and deliver real-time analytics on the financial health of a business. There’s a gap in the market that became an obsession in the back of my mind.” In stealth until today, Avise closed a $5.5 million seed round in August 2020 led by FinTech Collective plus capital from Raga Partners, GGV, and Stanton’s Peloton cofounders.