Entity management company, Athennian, has announced today that it has raised $33m 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 software powers legal, tax and finance teams to seamlessly digitize, streamline and manage business entities and company structures. Clio’s Jack Newton is an advisor to the company and an investor.
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.
Adrian Camara, co-founder and chief executive officer of Athennian, said: ‘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.’
‘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.’
‘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.