Hiline, a provider of financial-operations-as-a-service that helps growth-minded organizations manage risk, improve outcomes, and make better decisions, announced it acquired Calculate, a New York-based outsourced accounting and finance firm dedicated to supporting the financial processes at emerging companies.
This strategic acquisition represents “a significant milestone for Hiline as it strengthens its position in the market and expands its offerings to better serve its growing roster of clients.”
As part of Hiline’s commitment to “providing a comprehensive suite of financial solutions to small and midsize businesses, start-ups, and nonprofits, this acquisition will aim to further drive innovation in Hiline’s technology solutions and deliver value to its clients through broadened industry and financial expertise.”
Hiline will meaningfully bolster its service portfolio “through the combination of additional talent and technology while also materially expanding its client base and geographic presence.”
Hiline Co-Founder and CEO, Matt Gardner said:
“We’re sending a clear signal to the market about the growing need for outsourced financial operations. As businesses navigate challenging headwinds such as rising rates and a more conservative fundraising environment, the demand for outsourced services and fractionalized financial support is evident. High-growth companies can now grow efficiently without the time and cost of building an in-house finance team.”
As noted in the update:
“Merging Calculate with Hiline strengthens our established position as we continue to challenge the traditional accounting firm model as a financial-operations-as-a-service offering. By combining forces, Hiline now stands among the top firms in the space, positioning us with an expanded suite of services and a broader market reach.”
This strategic move significantly “enhances Hiline’s capabilities, particularly by retaining Calculate’s talented and tenured team, composed of high-level finance talent with backgrounds from leading financial institutions and accounting firms.”
Through leveraging Calculate’s expertise, in conjunction “with Hiline’s existing team, technology, and comprehensive services across accounting, finance, tax, human resources, and payroll, Hiline will significantly scale its operations and strengthen its CFO and FP&A-led advisory services.”
This acquisition comes on the heels of a strong year for Hiline, including an investment by Red Iron Group in September.
As noted in the update, Hiline claims it is “a leading financial services firm that delivers scalable accounting, human resources, tax, and payroll services to growth-minded companies, small and midsize businesses and nonprofits.”
Created by industry veterans, Hiline combines human guidance “with technology to help hundreds of organizations manage risk, improve outcomes, make better decisions, and ultimately achieve business goals faster.”
