Multiplier Raises $35 Million Series B to Build a New Model for Professional Services

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Postmedia has not reviewed the content. by Business Wire Multiplier Raises $35 Million Series B to Build a New Model for Professional ServicesAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Former Slack CFO Allen Shim joins as President and CFO as Multiplier expands its network of specialized accounting and professional-services firmsTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountSINGAPORE — Multiplier, a technology company that acquires premium professional-services firms and builds AI tools around how those firms work, today announced a $35 million Series B led by The General Partnership, with participation from Ribbit Capital and Lightspeed Venture Partners.The company also announced that Allen Shim, the former Chief Financial Officer of Slack, has joined Multiplier as President and CFO. Shim helped take Slack public and remained with the company through its acquisition by Salesforce. At Multiplier, he will oversee finance, operations, partnerships, people, and help build out the company’s San Francisco office.Multiplier acquires established professional-services firms with deep expertise in valuable niches and long-standing client relationships. The firms retain their names, leadership, and operating independence, while the professionals responsible for those client relationships share in the value they help create. Multiplier provides what no boutique firm can build alone: long-term capital, shared infrastructure and access to a global network. Its team of more than 30 technologists, recruited from leading software companies, works directly inside the firms to build AI tools around their daily operations.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againMultiplier is structured as a permanent holding company rather than a traditional short-term acquisition vehicle. The company focuses on growing firms whose founders want to continue leading their businesses while gaining access to capital, technology, recruiting, operational support, and a broader network of expertise. Unlike companies that sell software to outside firms, Multiplier works directly with the people inside its firms to identify where AI can reduce manual work, expand capacity, and improve client service. Because Multiplier owns the firms where the technology is deployed, its teams have direct access to the workflows, data, professionals, and institutional trust required to build and implement tools around how the work is actually done. This approach addresses many of the adoption barriers that have historically limited software use in professional services.“An AI’s answer is worth zero until a professional puts their name on it,” said Noah Pepper, founder and CEO of Multiplier. “We’re not trying to remove experts from the work. We’re giving firms AI muscle while keeping their human heart, providing them with better tools, more time for judgment, and the capacity to serve more clients without lowering the bar on quality or trust.”Professional-services firms have historically been difficult to scale because their growth depends on the time and availability of experienced practitioners. Many also operate with fragmented information spread across documents, financial statements and email. Recent advances in AI make it possible to automate more of that preparatory and administrative work while keeping professionals responsible for the final advice and client relationship. Multiplier’s aim is to expand the number of clients those professionals can serve, rather than reduce the number of professionals required to serve an existing client base.“Accounting is a large, durable market that has long been constrained by expert capacity,” said Anthony Kline, Partner at The General Partnership. “Multiplier is not trying to replace the professionals clients trust. It is building technology into the firms themselves so those professionals can serve more clients, respond faster and spend more time on work that requires judgment. Noah has the operating experience and long-term approach needed to build this model at scale.”Multiplier has acquired eight firms to date, including five in the past year, and has four additional firms under signed term sheets. Its network currently serves clients across more than 10 countries. Founders and leadership teams remain with their firms following an acquisition, and firms within the network have begun referring clients and opportunities to one another.The new funding will be used to acquire additional firms and expand Multiplier’s technology and operating teams.Multiplier acquires specialized professional-services firms and builds technology around how their experts work. Firms retain their brands, leadership and client relationships while gaining long-term capital, shared infrastructure, operational support and custom AI tools. Multiplier was founded by Noah Pepper, a former Stripe executive who built and led the company’s Asia-Pacific business. For more information, visit multiplierholdings.com.View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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