Teslar Software by 3E, a provider of automated workflow and portfolio management tools that help community financial institutions thrive, today announced that the Independent Community Bankers of America (ICBA) has invested in their company, bringing the total seed capital raised to $2 million.
Teslar is on track to double their revenue this year, and the investment will allow them to add staff to support this growth while maintaining their high standard of customer support and service for community banks.
The investment comes on the heels of Teslar’s participation in ICBA’s ThinkTECH Accelerator in Little Rock, Ark., where the company’s demo won the Banker’s Choice Award for Most Impactful Solution. Teslar was one of eight early-stage financial companies selected for the accelerator program, beating out nearly 200 other applicants. The company plans to use the capital to grow its client support, marketing and technology development departments.
“We were impressed with Teslar’s banking background and their platform’s capabilities to aid community bank business processes and data requirements during the Accelerator program,” ICBA Services Network Chief Operating Officer Kevin Tweddle said. “We look forward to supporting Teslar as they continue to empower community bankers with the tools they need to grow with confidence and ease.”
The Teslar platform is built on modern, highly configurable technology aimed at streamlining processes and improving operations with better data. The platform integrates siloed systems, centralizes information and boosts efficiencies to help community banks optimize work processes and improve customer interactions.
Joe Ehrhardt, CEO and Founder of Teslar, explained, “We provide the solutions necessary for community banks to operate more efficiently and effectively, while focusing on what matters most: exceptional customer service. This investment and ICBA’s support will provide resources to grow our team and continue advancing our technology, furthering our mission to help community bankers prosper.”