New York City, NY – Vera, an AI back-office service focused on reducing the administrative burden for America’s small and medium-sized businesses, has been named to the 2024 SMBTech 50. This annual list, created by Notable Capital in collaboration with 25 venture capital firms, highlights the most promising venture-backed technology startups that support SMBs.
“The SMBTech sector has evolved into a powerhouse within the technology industry, with companies like Shopify and Hubspot demonstrating the value in serving SMBs,” said Chelcie Taylor, Investor, Notable Capital.
Today, Vera and other honorees such as Anthropic, Canva, Stripe and Gusto will celebrate by ringing the closing bell at the Nasdaq MarketSite.
“We’re incredibly excited about this announcement, not just because we’re recognized, but because it highlights the growing importance of SMBs as a market to serve,” said Simon Holland, Founder and CEO of Vera. “We believe that SMBs should have access to high-quality services and tools that help level the playing field that traditionally have only been available to enterprise businesses.”
SMBs are critical to the U.S. economy, making up 99.9% of all businesses and employing 59 million workers, which is 46% of the private sector workforce. However, the complex and costly administrative and regulatory burdens continue to challenge these businesses. Vera addresses this issue head-on by automating up to 95% of tasks typically managed by administrative and operations roles, allowing businesses to allocate more time and resources to strategic growth.
“Thanks to Vera, our administrative workload has drastically reduced. Managing licenses and taxes is no longer a headache, and we have peace of mind knowing we’re meeting all government requirements ahead of time. We can now focus on activities that drive business growth.” – Alex Marcus, Mento Co-founder.