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Thoma Bravo has invested over $100 million in HubSync to accelerate its development of integrated workflow technology for accounting and tax firms. HubSync’s platform consolidates tools like engagement letters, data collection, and analytics into a unified interface used by over 40% of the top 25 U.S. CPA firms. The investment supports continued growth, AI enhancements, and broader adoption across the industry.
A Game-Changing Investment Shakes Up the Tax Tech Sector
HubSync has secured a strategic growth investment exceeding $100 million from Thoma Bravo, a private equity firm known for its focus on software companies. The funding was announced on May 5, 2025, and is expected to accelerate HubSync’s product development and customer support capabilities. The move signals strong confidence in the growing demand for automation and integration in the tax and accounting sector.
Founded in 2019 and headquartered in Franklin, Tennessee, HubSync delivers a unified platform tailored to CPA firms. The investment builds on HubSync’s 744% revenue growth between 2020 and 2024 and follows its recent recognition on the Deloitte Technology Fast 500.
Why Thoma Bravo Bets Big on HubSync
Thoma Bravo’s decision to fund HubSync is grounded in its strategic approach to software-driven platforms with scalable models. Ross Devor, Partner at Thoma Bravo, cited HubSync’s technology and leadership as factors behind the decision. He noted that HubSync meets core needs of tax professionals aiming to streamline operations and improve client service.
John McGowan, CEO and Founder of HubSync, brings prior experience from KPMG and Deloitte, where he held senior roles in global tax technology. His industry knowledge has shaped HubSync’s development into a platform that appeals to leading CPA firms. According to Dillon Biddiscombe, Vice President at Thoma Bravo, the firm sees significant opportunity in supporting HubSync’s next stage of expansion through operational expertise and software-focused strategies.
Inside HubSync’s All-in-One Platform That CPA Firms Actually Use
HubSync offers a centralized platform that replaces multiple disconnected software tools often used by CPA firms. Its integrated solutions include:
- Engagement Letter Wizard – generates, tracks, and delivers thousands of engagement documents
- Data Collection / PBC – gathers client data and pre-populates it within workflows
- Planning & Analytics – enables firm-wide visibility and strategic forecasting
- Client Portal and Document Delivery – streamlines client interactions via a single interface
- Workflow Tracking – monitors return statuses and engagement progress in real time
- e-File and e-Sign Capabilities – enables digital document submission and approval
- HubSync Gateway – serves as a central dashboard to manage all tools and tasks
The system leverages AI to eliminate redundant administrative work and consolidate client touchpoints. By replacing outdated systems with a unified digital infrastructure, HubSync enables accounting teams to operate more efficiently across departments.
From Startup to Standout: How HubSync Hits 744% Growth
Since its launch in 2019, HubSync has scaled its client base rapidly. From 2020 to 2024, the company grew revenues by 744% while maintaining profitability. It currently serves over 40% of the top 25 accounting firms in the United States and has doubled its customer base within the last year.
The platform now supports more than 2 million client workspaces and processes millions of tax returns in real time. HubSync’s tools have helped firms submit hundreds of thousands of engagement letters and track millions of client records. Its rapid adoption reflects a growing demand among firms to reduce inefficiencies and improve client engagement through automation.
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What Makes HubSync Different in a Fragmented Market
HubSync is built to replace the multiple point solutions traditionally used by accounting firms. Over 85% of top CPA firms rely on five or more separate systems to manage their workflows. This fragmented approach contributes to inefficiencies, redundant data entry, and inconsistent client communication.
HubSync consolidates these tools into one platform, giving both employees and clients a single point of access. Accountants can handle tasks across departments without switching systems, and clients avoid navigating multiple portals. By focusing on integration rather than replacement, HubSync enhances existing processes without requiring a full overhaul of firm infrastructure.
What This Means for Tax and Accounting Professionals on the Ground
For professionals using HubSync, the benefits are centered on time savings, improved communication, and enhanced job satisfaction. The system reduces time spent on administrative tasks, allowing staff to focus on strategic client work.
Key improvements include:
- Centralized client interactions via one login
- AI-driven automation to reduce manual data handling
- Intuitive interface that supports onboarding and training
- Customizable workflows aligned to each firm’s process
Firms also report improved employee retention and recruiting appeal, with prospective hires responding positively to modern systems that reduce frustration and enhance productivity.
Scaling with Confidence: What Comes Next for HubSync
With Thoma Bravo’s investment, HubSync plans to accelerate its roadmap and enter its next growth phase. Specific areas of focus include expanding the platform’s AI capabilities, enhancing customer service operations, and increasing market penetration among mid-sized and large accounting firms.
The funding also enables the company to deepen its consultative approach, working closely with firms to align solutions with specific operational goals. John McGowan emphasized the value of the partnership, noting that it validates the strength of both the team and the product.
Why This Move Signals a New Era for Accounting Tech Firms
Thoma Bravo’s investment in HubSync reflects broader trends within the professional services industry. Accounting firms are seeking integrated platforms that reduce complexity, improve client satisfaction, and allow their professionals to work more efficiently.
HubSync’s model, built around consolidation, AI support, and user-friendly interfaces, highlights the shift away from fragmented software stacks. With its growth trajectory and new backing, HubSync is positioned to influence how technology is implemented across the tax and accounting sector.
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