Agile finance platform Place has announced $3.25 million in new capital, a Tuesday (Feb. 22) press release said.
The round was led by Geekdom Fund, with participation from new investors like 7BC Venture Capital. Angel investors also participated.
Place will be expanding its senior management team as well as looking into recruiting a vice president of marketing and one for engagement, too.
The release said those things will allow the company to build on its work and accelerate product development, improve customer success and delivery programs, and more.
Brandon Metcalf, CEO and founder of Place, said the idea behind Place was to solve challenges that the workers had personally experienced while running SaaS companies.
“Our mission is to help early-stage SaaS companies succeed, so we’ve combined revenue management with financial forecasting and planning, inside the same operating system that sales, marketing and support teams use today,” he said.
For example, he said the company’s Revenue Lifecycle Management product had helped businesses operate and scale.
Metcalf said the customers, using the company’s product, can do things like get better subscription revenue or more efficient capital.
“Place’s founders, Brandon and Kabe (VanderBaan), have built an incredible product and team to solve a problem they experienced firsthand as they built, scaled and exited their last company,” said Mike Troy, managing director of the Geekdom Fund. “We are excited to continue to support Place as they expand their product for the SMB and midmarket, delivering even more value for their customers.”
Tropic, a SaaS software procurement platform, has also been raising money, PYMNTS wrote, with a $40 million Series B round earlier in the month.
Read more: SaaS Procurement Platform Tropic Raises $40M to Expand its Products
Tropic has total funding of $65 million since last August, the company said.
With the new funding it plans to expand its global footprint, add more employees and roll out new products later this year.