WebFilings causes a stir with easy-to-use financial reporting tool

By Dominic Jones on November 16, 2010

IR Web Report -- A NEW company is causing a stir in investor relations and corporate reporting circles with its financial reporting software that makes it a snap for companies to confidently create multiple disclosure documents that automatically update when figures are changed in a single spreadsheet.

WebFilings, which developed its cloud-based software over an 18-month period, emerged from a private beta earlier this year with a handful of test clients.

It has quickly gained more than 100 companies as clients and has been getting rave reviews.

In October, the company closed a fully-subscribed $12.5 million Series B private placement of equity, bringing the total raised to $24 million.

Praise from IR professionals

I was given a demo of the slick new software several weeks ago after complaining on Twitter that I couldn’t get anyone to demo the product for me (turns out they’re busy!). I was extremely impressed with the software and its capabilities.

The WebFilings team has invested considerable time in fine-tuning their software and building out its capabilities, including XBRL support, and it shows. They have come to market with a completed product and its usability is at a level you rarely see in new software tools.

Others in the IR community are equally impressed with WebFilings.  Read more >>