Charleston-based Ceterus landed a Series A investment in the amount of $4.2 million. Leading the round was TechOperators, the largest venture technology investor in the Southeast, with participation from The IDEA Fund Partners of Raleigh, and Alerion Ventures of Charleston. Ceterus will be using this funding to build its technology and sales teams in Charleston, and the company is actively hiring to grow their downtown Charleston headquarters.
Founded in 2008, Ceterus provides cloud-based bookkeeping services for its franchise owner customers.
“We have grown rapidly this past year and our customers love how we help them manage and grow their businesses,” said Levi Morehouse, Ceterus CEO and Founder. “Our investors understand the market potential for cloud-based bookkeeping-as-a-service and they have the strong operational backgrounds to help us scale.”
The Ceterus Insight offering enables a “Do-It-For-Me” solution for franchise owners to get accurate financial reporting and operational metrics in a timely, consistent basis. This includes providing business owners valuable operational perspectives by integrating data from their point-of-sale, human resources and accounting systems into one accessible dashboard. “Not only do we do the actual bookkeeping for our customers, we help our customers learn how to run their businesses better,” Morehouse said.
This is Atlanta-based TechOperators’ first venture investment in South Carolina. Said Mohammadioun, who will be joining the Ceterus board of directors, affirmed, “All franchise business owners need good financial information and operational benchmarks, and Ceterus has a solid track record and very happy customers. While bookkeeping isn’t new, Ceterus’ cloud-based platform and how they deliver excellent service and results is a powerful combination. We are excited to partner with Ceterus as they execute their vision to reinvent bookkeeping for franchise businesses through innovative automation.”