LeaseAccelerator Revenue and Competitors

LeaseAccelerator is a Software-as-a-Service provider in the fast-growing Enterprise Lease Accounting software sector. We recently raised $30M in our Series B funding round from Insight Venture Partners after a record-breaking year in 2017 in which we tripled revenues. Companies lease much of the real estate (offices, warehouses, factories) and equipment (computers, vehicles, forklifts, furniture). The average Fortune 500 company leases between 1000 and 10,000 leases representing between $100M and $1B of obligations. Despite the relatively large size and dollar value of these leasing portfolios, most companies use spreadsheets to track these assets. Unfortunately, spreadsheets usually are not a scalable or reliable method for tracking thousands of assets in hundreds of locations. And many companies struggle to realize the savings they expected from their leasing programs. They cannot return equipment on-time. And they pay lots of extra fees around the end of term. LeaseAccelerator is the world's first software application designed specifically for Enterprise Lease Accounting. We help Fortune 500 companies in three areas: 1) Lease Sourcing - Save money on financing terms by more efficiently sourcing new equipment leases 2) Lease Performance - Reduce evergreen fees by proactively managing your leases through end-of-term 3) Lease Accounting - Comply with new IFRS and FASB accounting rules governing leases New Lease Accounting Rules The Financial Accounting Standards Board (US GAAP) and International Accounting Standards Board (IFRS) have announced new lease accounting rules which will require companies to provide much more detail about leases in their quarterly and annual filings (think 10-Qs and 10-Ks). Leases will move from the footnotes of financial reports to being line items on the balance sheet. The deadline for these new lease accounting standards is 2019. That means companies need to get started now!

keywords:Finance, saas