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ScaleFactor Closes Series C, Expands to Power SMB Operations with $100M Raised in 12 Months

დეკემბერი 11, 2023
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scalefactor funding

Paperwork is the bane of many a small business, forcing owners to burn precious time plowing through receipts or huddling over an accountant’s spreadsheet. One startup, however, promises to reduce the pain of these back-office operations with software that can automate many of the most tedious tasks. ScaleFactor, the accounting fixed assets fintech serving the small and medium-sized business market, raised $60 million in venture funding, in its third fundraising round in about a  year. ScaleFactor was kickstarted in 2017 when it received $2.5 million in funding from Techstars Austin, and then caught the attention of Canaan Partners, who invested another $10 million in 2018.

scalefactor funding

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The individual approach which deals mostly with variation in police officer scalefactor behavioural characteristics, such as length of service, gender, age, and race was slightly changed to accommodate the correctional setting context. Correctional variations such as the mandate, authority and policy procedures were included for analytical purposes. The situational approach, deals with the characteristics of the situation during citizen-police encounters such as whether the officers were investigating a domestic dispute, whether the situation occurred at night, was a witness present and if the offence occurred in a location known to be hazardous. This was changed to correctional institutional settings such as type of centre, type of unit, and category of inmates detained in the cell.

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scalefactor funding

Business customers pay a flat fee to access the digital tools and services with packages starting at around $6,000 and reaching as high as about $30,000 a year. Table 3 below provides a snapshot of the sequential interactions between the officials and inmates and the escalating and de-escalating actions taken by correctional officials and inmates during their encounters. For each interaction between correctional officials and inmates, an action level descriptor (resistant and force level) was allocated as per the RFCS. The literature above confirms how challenging it is to analyze police-citizen interactions and emphasizes how crucial it is to precisely gauge force and resistance throughout the encounter. Understanding complicated social interactions and the decision-making of the law enforcement officer during an encounter requires an accurate assessment of consecutive activities, especially when the encounter concern takes place in stressful circumstances (Makin et al. 2020). As a result, the application of force and the resistance provided do not represent a one-sided approach but rather intricate interacting processes that involve many actions and reactions.

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There were five inmates in the cell on the day in question which indicated that some of the inmates displayed anger and aggressive attitudes towards their fellow inmates who intend to assist or comply with the instructions of the officials. The officials further claimed that they used tonfas and shields (non-electrified) to remove the inmates whereas some of the inmates claimed that this was done using tonfas and electrified shields. The officials claimed that force was applied to inmates in the cell only in the process of removing them, whereas some of the inmates (5) claimed that https://www.bookstime.com/articles/scalefactor the application of force continued outside the cell. The RFCS provide a detailed outline for the resistance factor in the sequential steps of force that could be applied to the Six Ordinal Levels of Force (SOLOF) scale/system (Mourtgos et al. 2019; Terrill and Paoline 2012b). The resistance level posed by an individual during an encounter is ranked on an ordinal scale—verbal and passive resistance at level one and active resistance at level two. Verbal resistance can take the form of either verbal rebuttals to commands or verbal threats whereas passive resistance consists of noncompliance with an officer’s commands without any violent resistance.

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Technology startups are often rewarded for a “fake it ‘til you make it” mentality by venture capital firms willing to throw money at a product until it meets expectations. But ScaleFactor used aggressive sales tactics and prioritized chasing capital instead of building software that ultimately fell far short of what it promised, according to interviews with 15 former employees and executives. Financial operations software platform ScaleFactor has raised $10 million in a Series A, announced today. The round was led by Canaan Partners with participation by Citi Ventures, Next Coast Ventures, Flyover Capital, Firebrand Ventures, Broadhaven Capital, and other angel investors. According to the criteria of necessity, any use of force must be absolutely required, extraordinary, and have a legal justification.

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scalefactor funding

The individual approach deals mostly with variations in police officers’ characteristics, such as length of service, gender, age, and race. The suspect approach deals mostly with variations in the suspect characteristics, such as the suspect’s gender, age, race, physical size, demeanour, possession of a weapon, attempt to flee and impairment by alcohol or drugs (Hickman et al. 2015; Hine et al. 2018). In terms of the Force Comparative Scale, the use of physical force became necessary when the non-physical interventions proved to be ineffective. The sequence of force application indicated that officials first forcibly opened the cell and then removed the inmates from the cell with tonfas and shields (electrified/normal). The application of this type of force falls outside the scope of RFCS because, although there was active resistance on the part of the inmates, the officials did not consider the use of pepper spray to forcibly subdue the inmates as the first line of intervention.

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scalefactor funding

While we may not have $100 million lying around, we offer concrete value to our clients, 99% of whom we retained even in the face of a global pandemic and recession, and we continue to operate profitably despite dreadful market conditions. We do plan to continue to invest in our own technology (our development team is finishing work on some top-secret stuff), but we will not take on a mountain of debt or sell out control of the company to do so. We also won’t sacrifice the quality of service or human connection in order to scale and line our own pockets. As a bootstrapped business we understand that every dollar counts and it is our responsibility to our clients and our team to do the right thing, even if that means growing more slowly.

The different encounters as per theme (day 1 and day 4) were coded according to the maximum force and resistance levels within the entire incident (see Table 3). The results of the RFCS were thereafter contextualised in accordance with the mandate of the Department of Correctional Service. The rationale for the use of force by security agencies is regulated by legislation and several internationally frameworks.

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From bookkeeping to payroll, ScaleFactor provides a built-in cadence to business operations, giving owners access to tools and insights previously only available to enterprise companies. The new capital will allow the company to expand its ‘business OS’ capabilities and offer new solutions to SMBs, firmly establishing ScaleFactor as the foundational platform for SMB operations. During unlock on day four, they blocked the keyhole of the cell with a toothbrush to prevent correctional officials from entering the cell to fulfil routine security protocols. After several attempts by the divisional head of security to convince offenders to unblock the keyhole, the matter was reported to the Head of the Centre who instructed the activation of the Emergency Support Team (EST) and authorised the use of force if necessary.

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