Case Study: DrivenIQ secures $15M in Series A funding with Paro

How a growing startup secured its capital needs and developed a lean and efficient finance function

DrivenIQ, a data technology startup, was growing rapidly after acquiring another company and suddenly taking on 150–200 new clients. As a pre-seed, bootstrapped business preparing for future fundraising, it needed lean accounting support and strategic finance leadership to manage bookkeeping, billing, and runway planning. Paro provided fractional accounting and CFO services to help fill that gap.

Paro matched DrivenIQ with a fractional controller and fractional CFO who improved bookkeeping, streamlined billing and payments, and built a financial roadmap for fundraising. The results included reducing credit card processing costs from $7–$8K per month to about $800–$900, saving more than $45K in a single quarter in 2022 through process changes and tax credits, and helping DrivenIQ secure $15M in Series A funding.

DrivenIQ

Albert Thompson

Founder