Hiline Acquires Calculate to Expand Outsourced Financial Operations Offering for Growth Minded Companies

Poised to Continue to Disrupt Traditional Accounting Model with Outsourced Back Office Solutions

SYRACUSE, N.Y., Feb. 8, 2024 /PRNewswire/ -- 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. 

For more information about Hiline, visit www.hiline.co.

ABOUT HILINE

Hiline is a leading financial services firm that delivers scalable accounting, human resources, tax, and payroll services to growth-minded companies, small and midsize businesses and nonprofits. Created by industry veterans, Hiline combines human guidance with technology to help hundreds of organizations manage risk, improve outcomes, make better decisions, and ultimately achieve business goals faster. For more information, visit www.Hiline.co and follow Hiline on LinkedIn.

ABOUT RED IRON GROUP

Red Iron Group is a private investment firm that partners with business owners and managers who are passionate about building market-leading businesses. The firm helps businesses achieve increased scale and business value through investments in organic growth initiatives and strategic acquisitions. Red Iron Group leverages its extensive Silicon Valley roots to help its portfolio companies invest in and implement technology enablement and adoption strategies that deliver enhanced value into the customer relationship, drive operating efficiencies, and produce greater organic growth. Red Iron Group has established a uniquely long-term capital base with a strategy of focusing on profitably growing lower-middle-market companies across a wide range of sectors. Learn more at www.redirongroup.com.

SOURCE Hiline