Balanced Labs was founded by CEO Stuart McLeod, and CTO John Freeman. They co-founded PayCycle Australia, which was purchased by New Zealand-based Xero in 2011. Ian Vacin, VP of marketing and product for Xero since April 2012, has also joined the new organization.

The company has posted a job advertisement for an engineer to work with the CTO on a SaaS-based tax application. They also seek a Senior Front End Developer in San Francisco “to build more intelligent collaboration and workflow tools” for accountants with immediate work on a mobile app.

The website description of the purpose Balanced Labs is that “We are creating new tools for modern accountants and the companies they serve.” It says these are being developed for accountants everywhere. The company also describes itself as growing aggressively and well-funded.