B12, an online platform for professional services firms, has announced $15.7M in funding led by Tola Capital with participation from Breyer Capital, General Catalyst, Naval Ravikant, and others.
It will use the new financing to accelerate growth, recruit talent, and continue building tools that allow small service businesses to survive and thrive as they face increased pressure from online platforms, according to a statement.
“The professional services segment is seeing rapid change. The same way Shopify equips stores to compete against Amazon, and Toast lets restaurants compete against DoorDash, B12 is helping small professional service firms own their digital identity and customer relationships,” said Nitesh Banta, co-founder and CEO of B12. “We believe small firms deserve to succeed online, and B12’s updated product suite is the next step in our commitment to ensure our customers can establish, run, and grow their client base. 2020 was a year where big business boomed, and in 2021, B12 wants to help smaller firms succeed.”
“Small firms need help getting online,” said Aaron Fleishman, partner at Tola Capital. “B12 sets up and activates firms to give their clients a seamless experience, from signing contracts with eSignatures to paying online for services. With a platform like B12, small professional services businesses can keep up in a changing world and build their businesses.”
“B12 takes a truly different approach to helping professional services businesses grow online by using AI to power their go-to-market model of service — giving companies the latest technology, but with a radically easy approach to implementation,” said Larry Bohn, Managing Director of General Catalyst. “We’re excited to continue our investment in B12 and their team as they help professional services businesses with digital transformation.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.