Case Study: DrivenIQ raises $15M Series A and saves $45K with Paro's fractional CFO and controller services

DrivenIQ raises $15M Series A and saves $45K with Paro

DrivenIQ, a data technology startup, was experiencing explosive growth but lacked a formal finance function to manage its bookkeeping, billing, and capital needs as it prepared for Series A funding. The bootstrapped company needed a lean and efficient solution to support its trajectory and set the stage for future investment rounds and an eventual IPO. To meet this challenge, they partnered with Paro for fractional finance and controller services.

Paro matched DrivenIQ with a fractional controller and a fractional CFO. The controller integrated and improved accounting processes, saving thousands in credit card fees, while the CFO developed a financial roadmap and investor strategy. As a result, DrivenIQ secured $15M in Series A funding and saved over $45,000 in capital costs and tax credits in a single quarter. Paro's solution also freed up internal staff to focus on core roles, boosting company morale and positioning the startup for its next funding round.

DrivenIQ