Netgain Solutions
Overview
Netgain Solutions is a prominent software provider specializing in finance and accounting automation. Founded in 2018 by Adam Riches and Nathan Smart, the company is headquartered in Englewood, Colorado. Netgain has carved out a niche in developing seamless, NetSuite-native solutions that streamline complex accounting tasks. Over the years, it has raised a total of $35 million in funding, primarily from Summit Partners. The company's innovative solutions are tailored to simplify accounting processes, making it a crucial player in the realm of financial technology.
Recent Developments
- July 2024: Netgain Solutions announced the appointment of Steven Skinner as the Managing Director for the APAC region, focusing initially on Australia and New Zealand. This strategic move supports the company's geographical expansion and investment into global markets. Steven brings over 25 years of experience in corporate accounting and finance, including leadership roles at prominent firms like NetSuite and Oracle.
- April 2024: Netgain Solutions secured a $35 million investment in a Series C funding round led by Summit Partners. The funding aims to accelerate the development of Netgain's automation and technology for accounting teams, addressing the increasing demand for streamlined financial processes and modernization of accounting practices.
- February 2024: The company celebrated receiving the "Built for NetSuite" verification for its product NetLoan. This recognition underscores Netgain's commitment to developing robust and reliable solutions that enhance financial management and compliance.
- January 2024: Emphasizing innovation in accounting technology, Netgain launched NetAsset, a fixed asset management solution designed to integrate seamlessly with NetSuite, thereby enhancing the efficiency and accuracy of enterprise financial reporting.
- 2023 Developments: During the year, Netgain reported significant growth, expanding its customer base by 400% over the past 24 months. It now serves over 1,600 customers, with a strong focus on maintaining high customer retention rates.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Englewood, Colorado, USA |
| Founders | Adam Riches, Nathan Smart |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Summit Partners |
| Industry | Software Development, Finance Technology |
| Number of Employees | Approximately 51-200 |
Early History
Netgain Solutions began in 2018 when founders Adam Riches and Nathan Smart, both experienced in accounting and financial management, identified gaps in accounting efficiency within organizations. Leveraging their backgrounds, they built solutions deeply integrated with NetSuite, a leading ERP provider. Starting with a focus on automating lease accounting, the company rapidly expanded its solutions to encompass fixed asset management, loan management, and other critical accounting processes. The company's dedication to addressing intricate accounting challenges has positioned it as a vital ally for financial teams, paving its way towards innovative accounting technology.
Company Profile and Achievements
Netgain Solutions is dedicated to transforming the landscape of accounting technology. Through its NetSuite-native software, Netgain focuses on facilitating seamless integrations, automating routine processes, and empowering accounting professionals to focus on strategic tasks. Some key achievements include:
- NetSuite Integration: All Netgain products are meticulously designed to work within NetSuite, ensuring seamless data flow and operational consistency.
- Product Innovations: They have launched several innovative products such as NetAsset for fixed asset management and NetLoan for loan automation, each achieving recognition for enhancing financial workflows and compliance.
- Growth Metrics: Netgain's remarkable growth is highlighted by an 80% increase in recurring revenue from 2022 to 2023, showcasing robust demand for its solutions.
- Customer Base Expansion: From small and medium-sized businesses to large enterprises, Netgain's user base has expanded significantly, doubling in size with reported high customer satisfaction and retention.
- Strategic Partnerships: Collaboration with Summit Partners has been pivotal in driving product development and addressing market demands efficiently.
Current Operations and Market Position
Netgain Solutions operates at the forefront of accounting automation, continually refining its product offerings to cater to the evolving needs of finance professionals. Its solutions provide enhanced operational efficiency, facilitating businesses to transform financial data into actionable insights. With a strong foothold in the software development sector, Netgain's strategic innovations offer a competitive edge by harmonizing accounting processes within NetSuite’s ERP environment. Through its modern, automated systems, Netgain significantly impacts its clients' market positions, enabling streamlined operations and improved decision-making capabilities.
Conclusion
Netgain Solutions continues to standout in the industry for its commitment to enhancing accounting processes with cutting-edge technology. As organizations increasingly seek streamlined financial workflows, Netgain’s solutions are poised to meet these demands, ensuring accuracy, compliance, and operational efficiency. Looking ahead, the company is well-positioned to expand its global footprint and influence, with ongoing investments in product development and regional market expansions. Through its strategic growth initiatives, Netgain Solutions is set to continue transforming the accounting landscape, making a profound impact on financial operations worldwide.