{"id":47747,"date":"2023-10-20T15:54:51","date_gmt":"2023-10-20T15:54:51","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/myob-co-founder-craig-winkler-among-early-investors-as-practice-ignition-raises-650000-seed-funding-startupsmart\/"},"modified":"2023-10-20T15:54:51","modified_gmt":"2023-10-20T15:54:51","slug":"myob-co-founder-craig-winkler-among-early-investors-as-practice-ignition-raises-650000-seed-funding-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/myob-co-founder-craig-winkler-among-early-investors-as-practice-ignition-raises-650000-seed-funding-startupsmart\/","title":{"rendered":"MYOB co-founder Craig Winkler among early investors, as Practice Ignition raises $650,000 seed funding &#8211; StartupSmart"},"content":{"rendered":"<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"445\" height=\"352\" itemprop=\"image\" class=\"entry-thumb\" src=\"\/wp-content\/uploads\/2014\/02\/l_practice-ignition-445.jpg\" alt=\"\" title=\"l_practice-ignition-445\"><\/div>\n<p>Practice Ignition, an Australian firm that helps accountants to streamline their interaction with clients, has raised $650,000 in seed funding from investors including MYOB co-founder and early Xero investor Craig Winkler.<\/p>\n<p>&nbsp;<\/p>\n<p>The new funding will go towards expanding the company\u2019s development team and business team.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cOur aim is that all accountants across Australia can use our platform by the end of fiscal 2014,\u201d founder Guy Pearson, told <i>StartupSmart<\/i>.<\/p>\n<p>&nbsp;<\/p>\n<p>Other investors include New Zealand-based software developer Trineo, several accountants, and Xero\u2019s vice president of payroll, Stuart McLeod.<\/p>\n<p>&nbsp;<\/p>\n<p>Pearson, a former accountant, is also behind cloud-based services advisor Interactive Accounting.<\/p>\n<p>&nbsp;<\/p>\n<p>He says the investors who\u2019ve injected funds into Practice Ignition, which was formed in 2012, were people he\u2019d met through his previous venture.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cPitch to people that know your industry or find someone that likes your solution,\u201d he advises fellow entrepreneurs.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThat might be 100 cups of coffee later.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>The seed funding was in exchange for around 22% equity in the firm, valuing it at $2.5 million.<\/p>\n<p>&nbsp;<\/p>\n<p>More than 400 accounting practices in 20 countries around the world are currently using Practice Ignition\u2019s platform to on-board new clients, the company says in a statement.<\/p>\n<p>&nbsp;<\/p>\n<p>The platform automates the creation and acceptance of legal engagement documents and provides tools to collaborate with clients, as well as giving firms the ability to offer real-time quotes and turn traditional websites into a service-based check-out system.<\/p>\n<p>&nbsp;<\/p>\n<p>Craig Winkler said in a statement that he invested in Practice Ignition because its cloud platform enables accountancy practices to scale up their businesses by automating workflow, invoice and payment tasks.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cPractice Ignition re-invents and streamlines the collaboration between advisor and clients, while dramatically reducing administration costs for accountants,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Practice Ignition, an Australian firm that helps accountants to streamline their interaction with clients, has raised $650,000 in seed funding<\/p>\n","protected":false},"author":1,"featured_media":58368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,20,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47747"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=47747"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58368"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}