San Antonio—Flightpath Finance, a startup that works with customers’ accounting software, has taken a $515,000 round of funding that was led by Active Capital and other San Antonio investors.
Flightpath sells a service that tracks and forecasts revenue, cash, and expenses for businesses, integrating with its customers’ accounting software and other internal data. It’s a Web-based tool that lets multiple users, from executives to investors, access and collaborate on the company’s financial data, according to a news release. The company targets businesses that have $500,000 to $15 million in annual revenue.
Flightpath plans to use the new funding on new hires for engineering and customer service. In addition to Active Captial, angel network Alamo Angles and the Geekdom Community Fund also participated in the financing. Geekdom, a downtown co-working space founded in 2011 by leaders from cloud computing giant Rackspace, has been key to revitalizing San Antonio’s tech startup scene. Geekdom established the community fund earlier this year, in which it gives one member of the co-working space a monthly $10,000 investment; it later changed the terms to a quarterly $25,000 financing.
Active Capital invests in seed rounds for founder-led, software-as-a-service businesses that have already launched products and have recurring revenue. Flightpath Finance was founded at Geekdom by Jaakko Piipponen, Ricky Davila, and Luke Owen, according to a news release.
