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Lockstep Raises $10 Million

Payments software company Lockstep has raised $10 million in Series A funding. Founded in 2019, Lockstep offers cloud-based AR and AP processing. 

Its products, Lockstep Inbox and Lockstep Collect, integrate with more than 40 ERP packages, including the various Sage and Dynamics ERP applications, along with Acumatica, Epicor and NetSuite. The latest round of funding was led by Point72 Ventures with participation from Clocktower Ventures and Revel Partners. Among investors are Avalara founder and CEO Scott McFarlane. 

Lockstep is led by co-founder and CEO Peter Horadan  and chief strategy officer Matthew Shanahan. The two both worked at Scout Analytics, which was acquired by ServiceSource in January 2014. Harodan was SVP of engineer and client services there from July 2006 through June 2013 and Shanahan was SVP of strategy from December 2007.

Harodan previously EVP of engineering and chief technology officer for Avalara from July 2013 through January 2018. He also spent nearly four years with Concur, which is now owned by SAP. Shanahan was previously chief operating and strategy officer for Globys from September 2016 through December 2018

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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