Spotlight Reporting raises $5m
Spotlight Reporting, which provides cloud-based tools to import data from accounting service firms such as Xero and QuickBooks to generate reports, forecasts and dashboards, says it raised $5 million from an NZVIF-backed fund, Vend's David Wilson and Xero director Craig Winkler among others.
The Wellington-based company says chief executive and founder Richard Francis and chairman Graham Shaw, a former Xero director, also contributed to the Series A funding round.
As a result of the capital raise, Chintaka Ranatunga from the NZVIF-backed Venture Capital Fund Global from Day One Fund 2 will join the board alongside Shaw, Francis and Miki Szikszai, who is chief executive of travel card company Snapper Services.
Spotlight was started in 2010 and now has offices in New Zealand, the US, UK and Australia. It was named Xero "Add-on Partner of the Year" in 2015 and was also recognised in the 2015 Deloitte Tech 500 and Fast 50 Rising Star awards. It is also an app partner for Xero's US-based rival Intuit.
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