The best thing about the news that BodeTree has raised $2 million in Series A funding may be the possibility that the company is not done raising money just yet.
According to reporting at TechCrunch, BodeTree CEO Christopher Myers is considering the possibility of additional funding from other investors by July. BodeTree, which made its Finovate debut in San Jose this spring, now has more than $6 million in total capital raised, with Greenline Ventures currently the company’s biggest investor.
For small businesses, BodeTree provides tools to help owners do business valuations, peer comparisons, and conduct critical business intelligence. Features include seamless integration with Xero, easy syncing with QuickBooks Online, and support for QuickBooks Desktop Interface.
All this organization serves another purpose: making it easier for potential lenders and banking partners to better understand businesses in order to provide loans and other services.
Said Christopher, “Our goal is for BodeTree to be the financial home base for what we call the Fortune 5 Million.”
BodeTree has 50,000 small business users and 13 lending partners. Recent partnerships with small business associations have helped the company expand in Arizona, Michigan, and Ohio. The additional capital will be used to fund continued growth, as well as platform improvements.
BodeTree was founded in 2010 and is headquartered in Denver, Colorado. See a video of the company’s FinovateSpring 2014 demo here.