Freelance-accounting Startup Paro Raises $10 Million

Paro, considered a matchmaker for freelance accountants and mid-market companies, has raised $10 million, led by a Silicon Valley venture fund called Sierra Ventures.

The Chicago-based company plans to double staff in the next year to provide corporate clients with on-demand experts across a range of financial functions. The company, which started three years ago, has grown to 65 employees from about 25 a year ago, according to Crain’s Chicago Business.

Founder Michael Burdick, a former Deloitte consultant, says the company has thousands of freelancers and hundreds of clients, mostly middle-market companies looking for particular expertise. Paro handles billing for the freelancers and provides software to help them manage their businesses.

“Professionals want flexibility, but it really sucks to freelance,” says Burdick, according to Crain’s Chicago Business. “You spend 40% to 60% of your time doing business development, invoicing clients.”

Tech Crunch reports that Burdick calls Paro “a freelancer operating system.” Burdick says that Paro focuses on elite financial talent, leading to higher margins.

Online labor marketplaces targeting business functions have grown dramatically in popularity in recent years, observers say.