Wondering how much your business is worth? A Wayne-based business valuation firm is now flush with cash and ready to put its software to work to give you an answer.

Carried thus far by investment from its CEO Michael Carter, late 2010-born BizEquity recently raised $5.1 million from London private equity firm Frost Brooks, Technical.ly Philly reported.

While its product has been developed without outside funding, the first round of institutional funding is expected to play an instrumental role in customer acquisition and domain expertise as BizEquity ramps up its sales effort — including hiring six new members of its sales force in the next three to four months.

The $40-per-month service aims to compete with offline valuation that costs $8,000 and takes much longer to assess.

“In the long term, Carter believes business valuation will become as ubiquitous as a credit score, with financial firms using it to decide who to lend to,” the article stated.

Read more about the growing company and its connections with Philly tech legends like Pete Musser on Technical.ly Philly here.

_______
Top photo credit: LendingMemo via photopin cc