Canton, OH
Patriot Software Company, a leading accounting software and payroll software provider, announced today that it has raised an undisclosed amount in Series-A funding, led by RZC Investments. Located in Bentonville, Arkansas – RZC Investments is a multi-strategy investment firm focused on deploying capital into operating businesses as the investment arm for the Walton family.
“Bringing in RZC attests to Patriot’s growth potential and leadership position in multiple industries. We already have award-winning accounting and payroll software that are best-of-class in the USA. We already have tens-of-thousands of customers who love us. And now we have a financial partner that truly cares about our mission to make accounting and payroll fast, simple, and affordable for millions of American businesses and their accountants” says Patriot’s CEO, Mike Kappel.
“We’re excited about partnering with Mike Kappel and the team at Patriot Software. Investing in entrepreneurs, founders, and disruptors is at the core of RZC, and we’re thrilled to invest in another fast-growing SaaS company like Patriot. We look for like-minded partners and business builders with an eye towards long-term value creation that align with our long-term, if not forever, hold periods—we found just that in Mike. Patriot’s software solution encompassing payroll, time & attendance, HRIS, and accounting provides a unique product set to the backbone of the U.S. economy, the American small business, which we’re long on,” says RZC Partner, Matthew Tarver.
Founded in 2002, Patriot Software self-funded its growth for many years. In addition to spinning off its former subsidiary, Top Echelon Software, Patriot raised millions in capital through Private Placement and Regulation D stock offerings led by Patriot’s President and Chief Legal Officer, Mike Wheeler. According to Wheeler, “Now that we’ve completed this Series A round with RZC, we are in a terrific position to scale with or without future follow-on rounds.”
About Patriot Software
Patriot Software provides online accounting software and online payroll for American businesses and their accountants. Patriot topped U.S. News & World Report’s Best Payroll Software of 2021, Motley Fool’s The Blueprint’s Best Payroll for New Users, Gartner’s “Top 5 Best Accounting Software for SMBs,” and “The 2021 Capterra Shortlist: Accounting Software” lists. For information on all of Patriot’s products servicing the United States, contact Patriot Software, LLC at 877-968-7147, or visit www.patriotsoftware.com.
About RZC Investments
RZC Investments in Bentonville, Ark., is the direct investment firm of Runway Group, a company founded by Steuart Walton and Tom Walton in 2017, grandsons of Wal-Mart founder Sam Walton, and managed by Matthew Tarver and Don Huffner. The firm is focused on providing long-term, differentiated capital to high-growth businesses. https://www.rzc.investments
