Karbon, a global leader in practice management solutions for modern accounting firms, today announced the appointment of Jack Newton as a new member of its Board of Directors.
Newton is the Chief Executive Officer and Founder of Clio, a company that has transformed the legal experience through cloud-based and client-centered legal technology. In 2021, Clio became the first legal practice management platform to earn unicorn status with a Series E funding valuation of $1.6 billion USD. As a pioneer in cloud-based technology, Newton brings a wealth of experience to Karbon.
“There are so many parallels between the impact Clio has had on the legal profession, and what Karbon is achieving in the global accounting industry,” said Newton. “I am proud of what we have accomplished at Clio, where we have grown from a small startup to more than $100 million USD in annual recurring revenue. Now, I’m excited to use my experience and expertise to help Karbon achieve the same success within the accounting practice management space.”
“Since our earliest days, Clio has been a company that we have admired and been inspired by,” said Karbon Chief Executive Officer and Co-Founder, Stuart McLeod. “We are humbled and proud that Jack has identified Karbon as the company that he believes can have the same success and impact within accounting that Clio has had within the legal profession.”
Newton’s appointment comes after Tidemark led a Series B investment in Karbon of up to $66 million USD earlier in 2022, which is helping to accelerate Karbon’s growth as the leading global practice management platform for accounting firms.
Karbon’s period of rapid growth is highlighted by more than 50% annual growth rates, a base of 2,500 customers in more than 30 countries, and a team size that has more than doubled in the last 12 months.