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Red Iron Group Announces Strategic Investment in hiline ServicesLeading Provider of Financial Operations-as-a-Service Positioned for Significant Further Growth and Capabilities Expansion MENLO PARK, Calif. and SYRACUSE, N.Y., Oct. 30, 2023 /PRNewswire/ -- Red Iron Group, a Menlo Park-based private investment firm, today announced a significant growth investment in hiline Services, LLC ("hiline" or "the Company"), a fast-growing provider of financial operations-as-a-service. Red Iron Group will provide financial, operational and strategic support to accelerate hiline's organic growth, while significantly expanding the Company's technology solutions and facilitating strategic acquisitions. Consistent with Red Iron Group's focus on partnering closely with business founders to effectively scale their enterprises, hiline will continue to be led by Co-founder and CEO, Matt Gardner. Gardner and the hiline management team will remain shareholders in the Company alongside Red Iron Group. Comprehensive Solutions for Companies Across the Country hiline's financial operations-as-a-service model delivers service offerings as a subscription, including accounting services (such as bookkeeping, accounts payable, spend management and comprehensive financial reporting) as well as financial planning and analysis (FP&A) led advisory via their strategic finance offering. Additionally, these solutions can be integrated with hiline's complimentary services such as tax, human resources and payroll. Connecting these solutions together seamlessly is hilineOS, the Company's cloud-based, standardized technology stack. hilineOS equips founders and management teams with financial clarity as well as scalable infrastructure to support their growing operations without the time, cost and headache of building an in-house finance team. Today, hiline serves nearly 150 customers across multiple verticals, including small and midsized businesses ("SMBs"), nonprofits and growth-minded companies. Game-Changing New Partnership to Drive Next Stage of Growth "This is a game-changing moment for hiline, and the beginning of an exciting new chapter for our customers and our team," said Matt Gardner. "This long-term partnership with Red Iron will allow us to continue to build on our position as the go-to financial partner for businesses and nonprofit organizations. Red Iron shares our vision for the future and our commitment to provide founders and teams with access to the back-office firepower they deserve to free them from non-core, yet mission-critical business functions. Together, we're positioned to redefine how businesses approach financial operations." Under Matt's leadership, hiline has combined deep vertical expertise with investments in best-in-class cloud technology to break the conventional accounting firm model and deliver cost-effective and dynamic back-office solutions. The Company's platform can scale with its customers to meet the needs of SMBs and nonprofit organizations of all sizes, delivering insights and strategic guidance to help founders and teams make more informed and timely decisions. "The Red Iron team is thrilled to support Matt and his team in this next phase of growth. We are excited to collaborate with hiline as they continue to expand and build upon their established position in the market for financial operations-as-a-service," said Ben Bisconti, Co-CEO of Red Iron Group. "Partnering with best-in-class services companies with leading technology solutions is a core tenet of our investment philosophy, and we look forward to helping accelerate hiline's goal of providing superior back-office management, financial reporting and analytics to organizations of all sizes." Red Iron Group's investment in hiline is consistent with the firm's strategic focus on partnering with founders and management teams intent on building market-leading businesses, with a focus on investing in service differentiation, technology enablement and strategic growth opportunities. About hiline hiline is a leading provider of outsourced financial operations to small and midsized businesses, nonprofits and growth-minded companies. The Company combines best-in-class cloud accounting technology and a dynamic team of professionals to deliver streamlined, subscription-based services to clients across accounting, finance, tax, human resources and payroll. Through its hilineOS platform, hiline equips founders and management teams with financial clarity as well as scalable infrastructure to support their growing operations—without the time, cost and effort of building an in-house team. Learn more at www.hiline.co About Red Iron Group Red Iron Group is a private investment firm that partners with business owners and managers who are passionate about building market-leading businesses. The firm helps businesses achieve increased scale and business value through investments in organic growth initiatives and strategic acquisitions. Red Iron Group leverages its extensive Silicon Valley roots to help its portfolio companies invest in and implement technology enablement and adoption strategies that deliver enhanced value into the customer relationship, drive operating efficiencies, and produce greater organic growth. Red Iron Group has established a uniquely long-term capital base with a strategy of focusing on profitably growing lower-middle-market companies across a wide range of sectors. Learn more at www.redirongroup.com. Media Contacts
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