Thoma Bravo, a leading software investment firm, announced a strategic growth investment of more than $100 million in HubSync, the premier all-in-one tax and accounting platform, automating CPA firms. The investment is expected to accelerate HubSync’s product roadmap and customer service, as well as enable continued growth and innovation.
HubSync is a leader in tax and accounting automation and client experience, empowering accounting firms and tax professionals with its innovative platform that drives efficiency, accuracy, and enhanced workflows for its clients. More than 85% of top CPA firms rely on five or more software point solutions to manage their workflows—which allow all-in-one modern and automated solutions like HubSync to drive significant ROI in comparison.
Founded in 2019, HubSync has experienced rapid growth, achieving 744% revenue expansion from 2020 to 2024 while delivering strong profitability. Today, HubSync serves some of the largest CPA firms in the U.S. who have transformed their client facing experience and internal accounting preparation workflow with HubSync’s innovative solutions. HubSync has over 40% of the top 25 accounting firms in the United States as customers, with a robust pipeline of future growth.
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“HubSync’s mission to modernize tax and accounting technology has reshaped the industry,” said John McGowan, Founder and CEO of HubSync. “Thoma Bravo’s expertise in scaling software companies will help accelerate our innovation, expand our industry reach, and enhance the value we deliver to our clients.”
Prior to founding HubSync, John spent more than 20 years driving technology and innovation as KPMG’s Chief Information Officer for global tax and and leading Tax Technology at Deloitte.
“This investment is a testament to the strength of our platform and team. We look forward to partnering with Thoma Bravo to drive further growth and transformation of the tax and accounting landscape,” says John McGowan.
“HubSync’s cutting-edge technology and market leadership position it as a standout in the tax and accounting software space,” said Ross Devor, a Partner at Thoma Bravo. “John and his team have used their deep industry experience to build a platform that meets the critical needs of tax and accounting professionals as they seek to unlock efficiencies and streamline their workflows, as well as elevate customer experience and satisfaction. We see tremendous potential to scale HubSync’s solutions and capture a larger share of this growing market.”
“We’ve been impressed by HubSync’s rapid growth and innovative approach,” said Dillon Biddiscombe, a Vice President at Thoma Bravo. “We’re excited to leverage our operational expertise to support HubSync’s next phase of expansion.”
Kaizen Equity Partners served as financial advisor and Taft Law acted as legal counsel to HubSync. Goodwin served as legal counsel to Thoma Bravo.
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