Collective, the ultimate all-in-one back office system, revealed its $20 million in Series A fundraising. Collective was created to provide independent contractors with the technology, staff, and network they need to concentrate on their purpose, not their documentation. Sound Ventures and General Catalyst both took the lead in the financing. Collective has received a total of $28.65 million in investment as of this round. Other well-known investors include Steve Chen, the creator of YouTube, Hamish McKenzie, the creator of Substack, Aaron Levie, the creator of Box, Kevin Lin, the creator of Twitch, Sam Yam, the creator of Patreon, Shadiah Sigala, the creator of HoneyBook, Adrian Aoun, the creator of Forward, Holly Liu, the creator of Kabam, Andrew Dudum, the creator of Hims, and Edward Hartman (founder LegalZoom).
Ashton Kutcher and Guy Oseary’s venture capital firm, Sound Ventures, is partnering with Collective to assist its goal of becoming the go-to network for companies and to hasten the company’s expansion within the maker and construction sector. Collective’s goal is to become the go-to back office collaborator for these people as they drive the transformation in the passionate economy.
Ashton Kutcher, the co-founder of Sound Ventures, said, “We’re thrilled to be funding a firm that’s facilitating the ability for artists to concentrate on what they do finest by ensuring the safety of the back office labor that produces so much resistance for so many early startups.
Hooman Radfar, the CEO of Collective, CPO Ugur Kaner, and Bugra Akcay, the CTO, are all successful businessmen who have firsthand knowledge of the difficulties of running a one-person operation. Collective was introduced in September 2020. The Collective system offers the underrepresented business-of-one people access to dependable experts who handle accountancy, tax, bookkeeping, and business formation issues, as well as customized financial services that are suited to their unique needs. Administrative activities are a hassle for the 59 million (36% of the US workforce) self-employed Americans and take up 30 days annually spanning project/client administration, bookkeeping, and job searching. By creating the first online back office system that maintains to inspire, assists, and unites the self-employed community, Collective is dedicated to changing this.
