February 28, 2014 | 3-minute read (540 words)
Originally published on PRWeb.
EGFS continues nationwide expansion with strategic move into Colorado to support growing startup communities.
San Jose, CA (PRWEB) February 04, 2014
Early Growth Financial Services (EGFS), an outsourced financial services firm that services small to mid-sized businesses nationwide, has just announced their expansion into Colorado, punctuated by their affiliation with recently launched startup accelerator “Boomtown,” a Boulder-based venture backed by former CP&B exec Alex Bogusky. EGFS has been named Boomtown’s Accounting/Financial Services sponsor to provide program participants with comprehensive CFO advising.
EGFS’s core clients are early-stage, high-tech startups which makes Colorado’s vibrant entrepreneurial scene a perfect place to set up shop, particularly in the cities of Boulder and Denver. As recently cited by Inc., “Boulder is an entrepreneurial powerhouse like no other. In 2010, the city had six times more high-tech start-ups per capita than the nation's average, according to an August 2013 study by the Kauffman Foundation--and twice as many per capita as runner-up San Jose-Sunnyvale in California.”
“We have great respect for the change drivers and thought leaders who call Colorado home and who have helped to accelerate startup growth, especially in the Boulder and Denver areas,” says Steven Olson, CFO and Lead for Boulder Operations for Early Growth Financial Services. “Since 2008, we’ve been key players in supporting the developing startup scenes in Silicon Valley, San Francisco, Los Angeles, and Las Vegas. Now we want to bring our learnings to Colorado, to support its startup infrastructure, and to help Colorado startup hubs grow into major venture hubs as well.”
In 2012, VCs invested $586 million in Colorado, a significant sum though not quite up to the scale of some other startup capitals such as Silicon Valley (which saw $11 billion) or New York City (with $2.3 billion in investments). EGFS is committed to helping local Colorado-based startups to grow by supporting their operations and fundraising efforts. In 2014, EGFS organized PitchFlip LA which brought VCs from Silicon Valley to LA to pitch to promising local startups. As EGFS gets more embedded within the Colorado startup community, their goal is to give their clients the essential financial support they need while simultaneously supporting the larger startup community through local events.
“At EGFS, we know startups. We understand their challenges, and their opportunities,” says David Ehrenberg, CEO and Principal of EGFS. “Early-stage companies need business partners who provide valuable mentorship and connections as well as essential services, To the growing startup community in Colorado, we offer not only our integrated financial services solution—from day-to-day accounting to CFO services, tax, and valuation support--but also our investment in their community.”
Early Growth Financial Services is an outsourced financial services firm that provides four platforms of financial support to early-stage companies: transactional accounting, CFO, tax, and valuation services. Headquartered in the Bay Area, EGFS has operations in Silicon Valley, San Francisco, LA, Las Vegas, and New York City. Customers include TechShop, OUYA, Formspring, Rocketspace, and OpenERP, as well as over 200 small to mid-sized businesses around the United States. EGFS was ranked #5 in Silicon Valley Business Journal’s Fastest Growing Private Companies for 2013. For more information, visit http://www.earlygrowthfinancialservices.com and follow @EarlyGrowthFS.