Corefino and VCs Plan to Part Ways
Corefino, a Sunnyvale, Calif.-based provider of outsourced accounting and financial solutions, is heading toward a divorce with its venture capitalists. The company raised $13.6 million in Series A funding less than two years ago from Bay Partners and Opus Capital, and quickly secured initial customers. Unfortunately, costs kept exceeding revenue, and the company now needs a financial restructuring and/or acquirer to keep ticking. Who’s to blame depends on who you ask.
7 April 2010•1 min read
