Hiline, a leading provider of financial-operations-as-a-service that helps growth-minded organizations manage risk, improve outcomes, and make better decisions, today 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 leading technology solutions and deliver exceptional 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.
"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,” said Hiline Co-Founder and CEO, Matt Gardner. “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.
"Together, we will aim to further empower founders and management teams with insights and financial clarity that scale to meet the diverse needs of today's high-growth companies," said Alison Cuzzolino of Calculate's executive team and is assuming the position of VP of Operations at Hiline. "Matt's leadership and vision reflect our shared commitment to help modern companies make better, more timely decisions through a combination of technology solutions and human expertise.”
This acquisition comes on the heels of a strong year for Hiline, including an investment by Red Iron Group in September.
"Calculate has built an outstanding team of professionals focused on delivering differentiated value to their customers. We are excited to see the Hiline and Calculate teams combine as an important step in expanding the resources and capabilities that distinguish Hiline in this market. We are proud to continue our partnership with Matt and the entire team," said Ben Bisconti, Co-CEO of Red Iron Group.