Milestone Cites Record Growth in 1H 2024, Adds New CFO Practice Leader
INDIANAPOLIS, July 16, 2024 (Newswire.com) - Milestone Business Solutions, the market-leading Outsourced Accounting and HR services firm headquartered in Indianapolis, reports exceptional growth in year-over-year client revenue. The firm is announcing that it has experienced record revenue in the first half of 2024, growing at a rate of 140% per year since launching in 2020.
Milestone has been building a team of industry veterans and thought leaders, creating a high-end fractional services firm that focuses on customized Accounting and HR solutions. The demand for outsourced/fractional services has increased significantly in recent years, and Milestone is capitalizing on that trend, providing high-end services in Accounting and Human Resources to clients who otherwise would not be able to afford them or are not ready to bring them in-house.
Founded in June 2020, Milestone has grown to 55 Finance and HR specialists. “There is a real appetite for what we do,” said Tom Gabbert, CEO and Co-Founder of Milestone. “Entrepreneurs have embraced the fractional model and understand what a difference it makes to surround themselves with experienced professionals who know how to scale a company,” he added.
The firm also announced the addition of tech industry veteran Tim Harvey as the Managing Director of a newly formed CFO practice.
"For the past four years, Milestone Business Solutions has been supporting entrepreneurs and companies of varying sizes as they navigate their business journey. We have been getting more and more interest in fractional CFO work from our accounting and HR services clients,” explained Gabbert. “Tim’s experience working inside of world-class technology companies and with venture capital firms and investment banks on both coasts, as well as here in the Midwest, will help elevate Milestone's sights on the market as we pursue our aggressive growth strategy across the U.S.”
"With Tim Harvey joining our leadership team, we are putting a real focus on developing the CFO practice as a core business offering to the entrepreneurs who are out there making a difference every day,” added Melissa Stout, Milestone VP of Clients Services and Co-Founder. “We will be able to better scale and serve our current and future clients going forward."
As Managing Director of the CFO Practice, Harvey will provide strategic executive experience across the Milestone portfolio, currently in 29 states, as well as help develop offerings for the broader fractional CFO marketplace. Harvey has spent over 30 years in finance and operations with various technology companies, primarily in Silicon Valley, New York, and, most recently, the Midwest.
“I am very excited to join Tom, Melissa, and the Milestone Team. Their reputation and integrity in supporting the growth of founder-led businesses is second to none,” said Harvey. Adding, “I’ve been fortunate to work with several market-defining companies and innovators over the years, and Tom Gabbert has been a true category maker for outsourced finance and fractional CFO services. I look forward to helping develop Milestone’s offering at the CFO level and driving continued growth and success for our customers and employees across the country and beyond.''
Prior to Milestone, Harvey served as the CFO for Moxo, founded by WebEx CEO and Co-Founder Subrah Iyar. Before Moxo, Harvey was CFO at Scale Computing, a leader in hyper-converged infrastructure and edge computing, and at Angie’s List (now Angi), which brought him to Indiana from Silicon Valley in 2008. During his time in the Midwest, he has directly helped raise over $100M in venture funding and close over $100M in M&A activity, both internally and as a consultant, while enabling businesses to grow.
Before moving from Silicon Valley to Indianapolis, Harvey was the vice president of planning for WebEx Communications through the pre-and post-acquisition periods with Cisco. He also held various senior finance leadership roles in accounting, FP&A, and investor relations at Veritas Software (acquired by Symantec; $13.5B), Silicon Graphics, and IBM. He began his career in the New York practice office of Deloitte, Haskins & Sells. Harvey earned an MBA in Finance from New York University's Stern School of Business and holds a Bachelor's degree in Government from Wesleyan University in Connecticut.
Source: Milestone Business Solutions
