Springbrook, a leading provider of fully integrated, cloud-based ERP and payments software for local governments, announced that it has completed the acquisition of BIAS Software, an innovative Washington-based provider of cloud-based accounting software for local public agencies. This transaction marks Springbrook’s first add-on acquisition since becoming a portfolio company of Accel-KKR, a leading Silicon Valley-based technology-focused investment firm.
BIAS Software provides a fully integrated financial management system for local governments including financial budgeting and reporting, payroll management, fixed asset management, cash receipting and a citizen-facing Utility Billing solution. The company’s BIAS Software’s Core Suite, BARSFUND, and all BIAS suites of applications are built on OCBOA financial reporting principles favored by many local agencies and special districts for its simplicity and transparency.
“BIAS is well-recognized and trusted among local agencies and special districts in Washington for its powerful and easy-to-use financial software solutions, and its client partnership culture,” said Max Schnoedl, Springbrook’s CEO. “Since becoming an independent company singularly focused on serving local governments, we continue to look for ways to add value to our customers. We see tremendous synergy in building on BIAS’s expertise in OCBOA-compliant financial administration software and to deepen Springbrook’s market leadership position in the U.S. Pacific Northwest region in partnership with BIAS co-founders Mark Felchlin and Wes Hein.”