Lockstep

Lockstep

Centralized receivables, payables management

About Lockstep

Simplify's Rating
Why Lockstep is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Data & Analytics

Enterprise Software

Fintech

Company Size

11-50

Company Stage

Series A

Total Funding

$9.7M

Headquarters

Seattle, Washington

Founded

2023

Overview

Sage Network offers a conducive environment for professionals keen on contributing to the financial tech sector by optimizing receivables and payables workflows. With a strong focus on workflow automation and centralized management, the company stands out in improving working capital efficiency. This commitment to enhancing financial operations and supporting business growth makes it an ideal workplace for ambitious tech and finance professionals.

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Simplify's Take

What believers are saying

  • Lockstep's integration with AI tools reduces errors and speeds up accounting processes.
  • The rise of cloud-based solutions offers Lockstep opportunities to expand its market reach.
  • Remote work trends increase demand for Lockstep's digital accounting solutions.

What critics are saying

  • Integration challenges with payment systems like Stripe could lead to customer dissatisfaction.
  • Sage Software's acquisition may disrupt Lockstep's operations and focus.
  • Free self-service portal could cannibalize revenue from existing paid services.

What makes Lockstep unique

  • Lockstep transforms email networks into trusted accounting system connections.
  • Lockstep automates AR and AP workflows, reducing manual errors and improving cash flow.
  • Lockstep's self-service portal enhances customer and vendor experiences with real-time capabilities.

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Funding

Total Funding

$9.7M

Below

Industry Average

Funded Over

1 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Below Average

Industry standards

$15M
$8.2M
Discord
$10M
Lockstep
$15M
Canva
$100M
GitHub

Benefits

Well established

Equity

work-life balance

Medical benefits

Growth

Remote environment

Company News

Rocky Mountain Air
Sep 28th, 2023
We Partnered with Lockstep® Receivables to Provide Flawless Dependa(bill)ity

Rockymountainair partnered with Lockstep® Receivables to provide flawless dependa(bill)ity.

Bar and Bench
Aug 8th, 2023
Khaitan, induslaw, skadden, wilson Sonsini act on Sage Software acquisition of Lockstep Inc

Khaitan, induslaw, skadden, wilson Sonsini act on Sage Software acquisition of Lockstep Inc.

ACI Consulting
Jul 6th, 2023
Expanding capabilities

One notable example from the event was the announcement of Sage Intacct’s acquisition of Lockstep.io, a leading provider of accounts receivable automation software.

PYMNTS
Apr 20th, 2023
Lockstep Adds Payment Acceptance To B2B Connected Accounting Network

Lockstep has added new payment acceptance to its connected accounting network for B2B companies. The company’s Lockstep Self-Service now enables companies to accept online payments from customers using Stripe, PayPal or the merchant processor of their choice, Lockstep said in a Thursday (April 20) press release. “A major pain point for B2B companies is the lack of a cost-effective, automated eCommerce solution to accelerate payments,” Lockstep Co-founder and Vice President of Strategy Matt Shanahan said in the release. “By activating payments in Lockstep Self-Service, we are furthering our vision of connected accounting by helping companies automate the collections and cash application while improving the customer experience.”

GeekWire
Feb 9th, 2023
Geekwire 200 Update: Here’S Who Is Moving Up Our List Of Top Pnw Startups

The latest highlights and hottest startups from the GeekWire 200 , our monthly ranking of Pacific Northwest tech companies. Click here for the full GeekWire 200 ranking .Several new companies joined the GeekWire 200 while a handful “graduated” in the latest update to our index that ranks the Pacific Northwest’s top privately-held startups.The ranking is derived from our broader list of more than 1,100 tech startups with headquarters in Washington, Oregon and Idaho, and British Columbia.The rankings are generated using a weighted algorithm that accounts for social media followings, approximate employee counts (via LinkedIn) and inbound web links.A startup “graduates” from the list if it gets acquired or goes public. Exit value tumbled across the board last year amid rising interest rates and declines in public tech stock valuations. But some analysts are predicting recovery in the latter half of 2023.Read on for takeaways from the latest rankings.NewcomersThe top ten GeekWire 200 startups in Q4 2022 versus the current rankings.Biggest moversJobscan (No. 125) rose 45 spots. The startup helps job seekers by optimizing their resumes to fit the positions they are pursuing

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