CrossBorder Solutions was founded in 2016 by David Bukovac and Donald Scherer. In 2021, then-CEO Scherer told Business Journal that he expects the company to file an IPO in 2023 or 2024. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
CrossBorder Solutions is an AI-driven tax solutions company that provides compliance and automation software to multinational corporations. The company has received $100 million in venture capital funding from investors including Insight Partners, Kennet Partners, and Savant Growth. The company relocated to Florida from New York in 2021. In March 2022, Matthew Masankay was named as CrossBorder's new CEO, with Scherer remaining as the company's Executive Chairman. The company has not disclosed recent valuation statistics.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
11/04/2021 | Series B-1 | $15MM | $xx.xx | $240.51MM | Insight Partners | |
Price per Share
$xx.xx
Shares Outstanding
2,081,888
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Insight Partners
|
||||||
03/30/2021 | Series B-2 | $67.4MM | $xx.xx | $454.54MM | Insight Venture Partners, Savant Growth Partners | |
Price per Share
$xx.xx
Shares Outstanding
5,250,485
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Insight Venture Partners, Savant Growth Partners
|
||||||
09/24/2019 | Series B | $40MM | $xx.xx | $240.51MM | Insight Partners | |
Price per Share
$xx.xx
Shares Outstanding
5,274,114
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Insight Partners
|
||||||
12/13/2017 | Series A | $8.5MM | $xx.xx | $21.25MM | Kennet Partners | |
Price per Share
$xx.xx
Shares Outstanding
8,500,000
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Participating
Participation Cap
3.0
Key Investors
Kennet Partners
|