Founder-CEO John McGowan

FRANKLIN, Tenn.-based HubSync, an "all-in-one tax and accounting platform" for CPA firms yesterday announced it has secured investment of somewhere north of $100MM from Chicago-based PE Thoma Bravo, which focuses on software and other technology.

A Thoma Bravo press release said its investment "is expected to accelerate HubSync's product roadmap and customer service, as well as enable continued growth and innovation."

Nashville Capital Network in 2023 led a Series A round for HubSync. NCN's portfolio page this afternoon reflects the group's prior investment. Prior NCN coverage here.

HubSync Founder and CEO John McGowan was quoted in this week's release saying, in part, "HubSync's mission to modernize tax and accounting technology has reshaped the industry..."

McGowan's earlier career included service as KPMG's chief information officer for global tax, as well as leading Deloitte's Tax Technology segment.

McGowan says on his LinkedIn page today, in part, "With my extensive background and commitment to innovation, I am dedicated to revolutionizing the way tax professionals work and enhancing the client experience with CPA firms."

In McGowan's LinkedIn profile, McGowan also asserts that "HubSync is the only tax & accounting platform created by seasoned professionals," a reference to himself and his Hubsync team.

The May 5 release described HubSync all-in-one competitive advantage as affording adopters greater return on their investment, compared with returns typically achieveable by clients' using multple point solutions.

According to the release, 6-year-old HubSync has booked rapid growth, "achieving 744% revenue expansion from 2020 to 2024 while delivering strong profitability" among adopters.

HubSync added it has "over 40% of the top 25 accounting firms in the United States as customers, with a robust pipeline of future growth."

Ross Devor

Thoma Bravo Partner Ross Devor is quoted in the same press release, saying, "HubSync's cutting-edge technology and market leadership position it as a standout in the tax and accounting software space. John [McGowan] and his team have used their deep industry experience to build a platform that meets the critical needs of tax and accounting professionals as they seek to unlock efficiencies and streamline their workflows, as well as elevate customer experience and satisfaction. We see tremendous potential to scale HubSync's solutions and capture a larger share of this growing market."

In a 2023 NCN press release, McGowan praised earlier investor NCN, saying, ""We could not be more thrilled to work with NCN. They are the ideal partner for us with their impressive network of strategic partners, portfolio of successful SaaS companies, and like-minded team. This funding round will strengthen our go-to-market strategy and enable HubSync to evolve our platform based on market demand and client feedback. Utilizing the latest in cloud-based technologies, HubSync brings standardization, automation, and a suite of integrated modules to the market. We expect the partnership with NCN to help fuel our growth for the foreseeable future as we realize our vision of fundamental change for Professionals and Clients in the Tax and Accounting industries."

In the same 2023 release, NCN Managing Partner Sid Chambless said, "HubSync has built an integrated, intuitive platform that greatly benefits tax, audit, and advisory professionals no matter their role. HubSync's founder John McGowan and the rest of the team have decades of experience in developing technology for Big 4 firms, which helped HubSync secure contracts with a rapidly expanding list of Top 50 firms." VNC coverage of Chambless here.

Kaizen Equity Partners served as financial advisor and Taft Law acted as legal counsel to HubSync. Goodwin served as legal counsel to Thoma Bravo. VNC

. last edited 0230 7 May 2025