The official release for this announcement can be found here.
We are thrilled to announce that we have just raised a $42 million Series B (USD $33 million) to take Athennian to its next growth stage. Centana Growth Partners led the round with support from previous investors Arthur Ventures, Touchdown Ventures, and existing investors.
We could not be more thrilled to partner with Centana. In Centana, we found alignment, including a focus on building a durable company with solid economic fundamentals and strong company culture. Centana also has extensive domain experience partnering with companies that operate in finance and compliance, so there was a natural extension into the problems that Athennian solves.
"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. "Athennian's software is revolutionizing business by replacing fragmented spreadsheets, old corporate record-keeping software, and minute bookbinders with a sophisticated system that consolidates ownership, governance, tax, compliance, and other elements of corporate identity into one simple, user-friendly platform."
When Athennian was founded in 2017, we set out on a mission to solve a real business problem. Before Athennian, businesses struggled with poor corporate record keeping, fragmented spreadsheets, and unreliable databases that limited collaboration. Athennian is the first innovative software that powers legal, tax, and finance teams to seamlessly digitize, streamline and manage business entities and company structures.
Over the last 24 months, Athennian has grown rapidly with a 10x 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.
“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,” said Adrian Camara, co-founder and chief executive officer of Athennian.
Where does Athennian Go From Here?
With this latest investment, Athennian plans to continue taking a proactive approach to scaling its business with strong company culture. “We plan to hire several hundred new team members over the next couple of years. We’re focused on building a diverse, equitable, and inclusive workplace at scale during this next growth period. We are proud to have gender balance on our Board of Directors and continue to work towards building an inclusive and representative organization across all departments,” said Josh Malate, co-founder and chief operating officer of Athennian.
We are fortunate to have a strong group of innovative investors joining our growth as we set sight on conquering the business entity management space.
Other News From Athennian
We are hiring. We are happy to say that we have a diverse, talented, and regionally distributed team and are excited to share that we are growing and adding more roles every day. We are currently hiring for multiple positions across the entire organization. Visit our careers page to learn more about our open positions.
We moved into a new office in Downtown Calgary. We recently moved our headquarters to a new location in downtown Calgary. Our new office is located in the District at the Beltline, a vibrant new campus for tech-focused companies.