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US: Kansas-based technology-enabled accounting and consulting firm, Ximplifi, has announced that it has closed on a minority investment in the company.
The funding from Mike Shehan and Steven Swoboda provides growth capital to support Ximplifi’s growing demand and continued software development of its VRPlatform technology.
Aiming to continue serving the unique needs of the vacation rental management industry, Ximplifi works to deliver dynamic accounting solutions and grow its clients’ bottom line.Â
Using the investment, Ximplifi will continue focusing on helping small- to medium-sized businesses to achieve greater financial success.
It does this to simplify its clients’ financial methods by leveraging technology and providing “six-star” professional services. In addition, Ximplifi offers outsourced accounting, advisory and technology consulting, while its proprietary VRPlatform automates as much as possible of the trust accounting processes for short-term rental managers.
The new investors, Swoboda and Shehan, have a long-standing history working together.
Both served as co-founders of Booyah Networks, a digital ad agency founded in 2001. They later worked together on SpotX, a division of Booyah Networks [founded in 2005] that became a leading independent global video ad platform, and officially sold in 2021 for $1.2 billion.
Shehan most recently served as the CEO of SpotX, which is now used by Discovery, Disney, Roku, Samsung, and Viacom among others. His background includes previously serving as the CEO of venture-backed image search company Ereo, and the founding of LOGEX International, which provides e-commerce solutions to retail and catalog industries.
Prior to his involvement with Booyah and SpotX, Swoboda had an extensive financial background working with PricewaterhouseCoopers, where he was responsible for managing inbound investments and helping with the changes of their financial economy.Â
After transitioning out of SpotX, Swoboda is seeking to explore new ways to connect with the professional community in Denver, Colorado.
Swoboda said: “The Ximplifi team has identified an underserved but large and growing market, and they’re delivering superior solutions and services. I am excited to be involved with Ximplifi and hope to help them grow and maximise the significant market opportunity they have in front of them.”
CEO Jesse King Ehret founded Ximplifi in 2018, specialising in accounting for short-term rental property managers.
Ehret will be speaking on an upcoming ShortTermRentalz webinar [sponsored by Ximplifi] on “Simplify with Ximplifi: Automating vacation rental accounting” on Tuesday 19 April [5pm BST]. The session will be hosted by STRz editor Paul Stevens and will also feature Taylor Hills, founder and CEO of Effortless Rental Group, and Evan Wilburn, owner and CEO of Hoste, as speakers on the panel.
The 45-minute webinar will include and address topics such as:
– A short educational demo
– How vacation rental management businesses can automate manual accounting tasks
– Why trust accounting expertise is so important for property owners and managers
– How an effective accounting system can enhance the vacation rental experience
For more information, sign up for the free webinar at this link.
