Martin Mucci, PaychexPayroll provider Paychex has invested in online accounting software company Kashoo. The size of the equity investment was not revealed; however two Paychex executives now sit on the Kashoo board of directors. Paychex CEO Martin Mucci issued a statement that the investment is part of an expansion of products and services his company provides to small and mid-sized clients and the accounting community.

The Paychex execs who joined the board are Michael E. Gioja, SVP of information technology, product management and development, along with marketing VP Andy Childs. It seems to me that in the crowded field for online accounting for small business this is quite a coup for Vancouver, B.C.-based Kashoo.

Last modified on Friday, 11 October 2013
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