Ignition

About

Practice Ignition is a cloud SaaS engagement and practice-management platform for accountants and bookkeepers to create digital proposals and contracts, automate workflows, collect payments, and integrate with accounting apps.

Mission

Practice Ignition offers an all-in-one client engagement and commerce platform that integrates digital proposals, payments and automated workflows with apps such as Gusto, Xero, QuickBooks and Zapier. Founded in 2013 by Guy Pearson and Dane Thomas, the company was created to modernize manual processes and reduce late payments for accountants and other professional service providers. The business nearly doubled client revenues facilitated via its platform in 2021 and reports more than 1 million clients across six markets with over $2 billion in client revenue under management. Practice Ignition intends to expand globally, focusing on growth in Asia, North America and EMEA and broadening its customer base into other professional services like marketing and consulting. The company is establishing a new R&D team in Toronto and pursuing strategic partnerships with Gusto, Intuit and Thompson Reuters to accelerate U.S. market expansion. Recent capital will be used to further product development, marketing and sales capabilities to support that scale. Practice Ignition provides a client engagement platform and front‑office system of record that helps accountants and bookkeepers create proposals, collect payments, manage scope and derive business insights. The product automates dynamic workflows, payment collection and client acceptance via a single digital signature. The company plans to use the new financing to deepen investment in its proprietary product and technology and to accelerate global growth. Practice Ignition supports over 225,000 clients globally and has offices in Australia, the USA, the UK, Canada and New Zealand. It has been named to the Deloitte Fast 50 in 2019 and 2020 and is consistently ranked among the most loved apps by Intuit and Xero customers. The company is backed by Tiger Global Management, Right Click Capital and Equity Venture Partners. Practice Ignition provides a cloud software solution that helps accountants and bookkeepers manage their practices, create digital contracts, and connect those contracts to workflow, invoicing and payment systems to create transparency. The platform automates time-consuming work to give professionals more time to focus on clients. The company says it now services over 1,500 firms in Australia and another 1,500 firms across the globe. Its team has doubled from 30 to 60 people since 2017. Practice Ignition plans to use the new funding to expand its specialist team, deepen relationships with its rapidly expanding global customer base, and deliver product enhancements via an innovation arm. Financially, the company completed a AU$26 million Series B round led by Tiger Global Management. Practice Ignition is a SaaS accounting platform that automates elements of the accounting process and offers accountants an easy way to manage work in the cloud. Launched in 2011 and based in Sydney, the company serves roughly 1,000 accounting firms and helps complete accounting work for over 40,000 small businesses globally. The platform processes about $100 million in payments annually and generates over 50% of its revenue from overseas markets. The company plans to ramp up product and marketing in key markets and expand its team, targeting a headcount increase from 30 to about 60 over the next two years. Target overseas markets named include the United States, Canada and the UK. Practice Ignition positions itself as a cloud-first, international-focused B2B SaaS solution for accountants and small business owners. Practice Ignition provides a cloud platform that helps accountants streamline client interactions and practice workflows. The company was formed in 2012 and is led by founder Guy Pearson, a former accountant who also runs Interactive Accounting. Practice Ignition has raised $650,000 in seed funding to expand its development and business teams. Investors named in the round include MYOB co-founder and early Xero investor Craig Winkler, New Zealand software developer Trineo, several accountants, and Xero’s vice president of payroll Stuart McLeod. Founder Guy Pearson said the company aims for all accountants across Australia to be able to use the platform by the end of fiscal 2014. The investors were people Pearson met through his previous venture.

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