Accounting software start-up makes key hire after $5m boost

Following a $5-million capital injection, NSW-based software company Practice Ignition has locked in a new and high-profile hire from Intuit Australia.

Founders of Practice Ignition, chief executive Guy Pearson and head of product Dane Thomas, have confirmed to Accountants Daily that Trent McLaren has been appointed to head of accounting and strategic partnerships, global.

Mr McLaren comes from the role of senior business development manager with Intuit Australia. He was also named Thought Leader of the Year at this year’s Australian Accounting Awards, hosted by Accountants Daily in partnership with Thomson Reuters.

“The entire team is fired up and looking forward to his arrival,” said Mr Pearson.

“His global presence and ability to communicate with the accounting industry is a perfect fit for our next stage of growth,” he said.

The move accelerates Practice Ignition’s vision to expand into global markets, following a recent $5 million-dollar capital injection from Australian venture capital funds and individual investors.

This latest round of fundraising was led by Microequities Venture Capital Fund and includes Black Sheep Capital, Right Click Capital and existing individual investors Craig Winkler and Adrian Di Marco. It also follows previous investment of $2.2 million in seed funding, secured in 2014 and 2015.

Focus areas for Mr McLaren will include building and expanding on relationships with key voices in the accounting market in Australia and in overseas markets like the UK and US, including associations and software companies, Mr Pearson told Accountants Daily.

Mr McLaren’s relationship with Intuit Australia will continue in his new role. He said he will look to assist in expanding the Practice Ignition and Intuit relationship, and Intuit’s ProAdvisor accounting partner network.

Six other new hires will also be starting at Practice Ignition in July, upping the company’s marketing and product development divisions.

The “customer success” team, which encompasses post-sales and transitional services for clients, will also be getting a boost. Mr Pearson said this is a “huge” focus area for the company, and will remain pivotal as the company continues its expansion.

 

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