About Strongroom Solutions
Strongroom Solutions is a Technology company based in Houston (United States) founded in 2007, and was acquired by AvidXchange in May 2015. Cloud-based accounts payable software is provided for SMBs. Strongroom Solutions has raised $1.1 million across 2 funding rounds from investors including AvidXchange. The company was acqui-hired. Its focus areas include FinTech, Finance & Accounting Tech, Accounting Solutions and Procure to Pay. Its legal entity is Strongroom Solutions, Inc. Its competitors include Bill.com, AvidXchange and Zip; 3 of its 3 listed competitors have raised funding.
Company details
Strongroom Solutions is a provider of a cloud-based Accounts Payable (AP) software solutions for SMBs. It mainly caters to the Home Owner Association (HOA). The companys flagship offering is the Strongroom Payables Lockbox, which allows businesses to digitize AP invoices and provides a centralized location for all of a business AP. It also automates the invoice approval workflow and provides a secure, SOC-1 certified solution. The solution also integrates with a business core accounting systems to import accounting data. Strongroom also offers integrated AP solutions to banks and financial institutions to provide their customers. This solution enables banks to provide AP solutions along with their traditional AR lockbox and payment systems. This is provided as a white-label solution to banks. The companys products are delivered through financial institutions. They primarily cater to the Home Owner Association industry. Strongroom Solutions was acquired by AvidXchange in June 2015.
- Headquarters Houston, United States
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website strongroomsolutions.com
- Social LinkedIn X Facebook
- Acquired by AvidXchange (May 2015)
- Legal Name Strongroom Solutions, Inc.
- Total Equity Funding$1.1M (USD)
in 2 rounds
- Latest Funding Round$625.44K (USD), Seed
Jul 2013
- Investors
- Acquired byAvidXchange
(May 2015)
Funding Insights of Strongroom Solutions
Strongroom Solutions has successfully raised a total of $1.1M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $625.44 thousand completed in July 2013. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.1M
- Total Rounds 2
- Last Round Seed — $625,439
- First Round $475,000
(Oct 2011)
All 2 funding rounds of Strongroom Solutions with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2013 | $625,439 | Seed | – | – | – |
| Oct 2011 | $475,000 | Seed | – | – | – |
1 investors in total: 1 institutional.
Investors in Strongroom Solutions
Strongroom Solutions has secured backing from 1 investor. Prominent investors backing the company include AvidXchange.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Accounts payable and payment automation solutions are offered for businesses. | 2000 | avidxchange.com | Charlotte, United States |
Investor details for Strongroom Solutions
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Timeline of Strongroom Solutions
4 dated milestones of Strongroom Solutions across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Strongroom Solutions is founded.
- Funding First funding round of $475K.
- Funding Latest funding round, Seed, of $625K.
- Exit Acquired by AvidXchange.
Competitors of Strongroom Solutions
Strongroom Solutions has 3 listed competitors in our database, 3 of them funded. They include Bill.com, AvidXchange and Zip.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bill.com | 2006 | Palo Alto, United States | $325.6M | 1,384 | Cloud-based accounts payable and receivable software for businesses | |
| avidxchange.com | 2000 | Charlotte, United States | $1.18B | 1,714 | Accounts payable and payment automation solutions are offered for businesses. | |
| ziphq.com | 2020 | San Francisco, United States | $358.15M | 218 | Cloud-based purchase approval management software is provided for businesses. |
Detailed competitors of Strongroom Solutions
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Strongroom Solutions
Websites that share an audience with Strongroom Solutions (strongroomsolutions.com).
Websites whose visitors overlap most with Strongroom Solutions. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| facebook.com | 100% | 12.1B | #3 | View details |
Top companies in Finance & Accounting Applications
3 companies that operate in the same segment as Strongroom Solutions (Finance & Accounting Applications) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Financial and accounting software is developed for businesses and individuals. | 1983 | Mountain View, California, United States | USD 49.62 M | USD 21.45 B | 18,200 |
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Frequently Asked Questions about Strongroom Solutions
Strongroom Solutions was founded in 2007 and raised its 1st funding round 4 years after it was founded.
Strongroom Solutions is headquartered in Houston, United States. It is registered at Houston, Texas, United States.
Strongroom Solutions is a funded company, having raised a total of $1.1M across 2 funding rounds to date. The company's 1st funding round was a Seed of $475K, raised on Oct 2011.
Strongroom Solutions is a provider of a cloud-based Accounts Payable (AP) software solutions for SMBs. It mainly caters to the Home Owner Association (HOA). The companys flagship offering is the Strongroom Payables Lockbox, which allows businesses to digitize AP invoices and provides a centralized location for all of a business AP. It also automates the invoice approval workflow and provides a secure, SOC-1 certified solution. The solution also integrates with a business core accounting systems to import accounting data. Strongroom also offers integrated AP solutions to banks and financial institutions to provide their customers. This solution enables banks to provide AP solutions along with their traditional AR lockbox and payment systems. This is provided as a white-label solution to banks. The companys products are delivered through financial institutions. They primarily cater to the Home Owner Association industry. Strongroom Solutions was acquired by AvidXchange in June 2015.
Strongroom Solutions's top competitors include Bill.com, AvidXchange and Zip.
Strongroom Solutions has 1 investor. Key investors include AvidXchange.
Strongroom Solutions operates through Strongroom Solutions, Inc..
Yes. Strongroom Solutions was acquired by AvidXchange in May 2015.