Xero is Here-o , Xero raises $150MM in US Venture Capital

Our prepared accountants were happy to see that Xero has lined its coffers with fresh (US) capital in a push to give Intuit (quickbooks) a run for its online service money.   We say this because we believe in competition and that Intuit has been very high on taking customers money and low on spending the money that they need to adapt to the modern way of doing business.  

Some may speculate that Xero will eventually be acquired by Intuit.  We at prepared accounting don't want Intuit to buy Xero before it matures, we want software that is well thought out by people who understand modern startups and integrates with the other services that we use on a functional level.  

Xero stated in its blog that the raised the capital from investors Peter Thiel and Matrix Capital Management who are generally known as tech investors.  They also stated that they were going to use the capital to grow their US market share.  

Prepared accounting is currently testing the software and plans to be Xero certified by the end of the month.   We want to be sure that it works for us before we make it work for you. 


Lyle PhippsComment