SKROL closes $1.2M, launches business acquisition platform to pioneer the tech-powered future of SMBs

By Riley Kaminer

Let’s say you’re fresh off an MBA at a top school. What’s your next step? The roles that were traditionally top of mind might have included consulting, investment banking, tech.

Increasingly though, the top business minds are gravitating toward the world of small business, buying their way into the C-suite rather than founding companies. Search funds are one way to do it: raising some capital to buy a business – an activity that Harvard Business School even supports its students in doing.

On the demand side, this interest in SMBs also adds up, with the US economy bracing for a so-called “small business silver tsunami” as baby boomers retire.

Miami-based SKROL is getting in on the action and helping others ride the wave too. Founded by serial entrepreneur Michael Cassau (former leader of German-Miami unicorn Grover), the startup is building a tech-enabled platform to source, acquire, and improve small and medium sized businesses.

To fuel this mission, SKROL has officially closed a $1.2 million pre-seed equity fundraise led by Magnetic Capital. In an interview with Refresh Miami, Cassau added that we can expect to see SKROL publicly announce a debt fundraise sooner rather than later, as this will enable the company to start buying businesses.

A peek into the future of SKROL’s story – and a unique insight into the technology it has already built – can be found by visiting SKROL.ai, which just launched this week. There, the sourcing platform that SKROL has built for its internal deal sourcing purposes can be accessed for free. There are two other paid plans ($99 and $299 per month) that users can purchase to get more features.

“And this is just the beginning,” Cassau confirmed, underscoring the overlapping Venn diagram of SMB business buying demand, supply, and capital where SKROL sits at the center.

SKROL is far from a typical PE play. For starters, SKROL is not looking for quick exits – or any exits, for that matter. “We want to keep these businesses forever,” Cassau asserted. Why? Long-term sustained growth.

“To us, SKROL’s success looks like us increasing the U.S. GDP by 1%,” he explained. “When SKROL’s companies are actually making a difference and have their needs heard by Congress.”

Another key difference from your typical PE buyer is the extent to which tech is at the core of SKROL’s operations. According to Cassau, SKROL’s platform enables the company to source at a quality, depth, and speed that is impossible to do manually.

Equally, SKROL is focused on bringing these SMBs’ operations into the 21st century by helping them leverage a modern tech stack. This includes a forthcoming suite of fintech tools – disruptive in the SMB industry, where many owners prefer not to adopt the latest and greatest in financial offerings.

SKROL, which has a team of roughly a dozen employees, is currently in the process of acquiring three companies and has sent 20 LOIs thus far. The company is also working through the over 350 applications it has received for people applying to be these businesses’ CEOs.

“I am passionate about helping SMB business owners find the right place for their companies, improving them, and helping them grow. I’m excited to help these companies reach their full potential by connecting them with the right talent and capital while giving them a voice and building the fintech solutions to address their long-standing needs,” said Cassau.

“It is the fact that these trends are coming together in a unique way that makes me and everyone involved at SKROL very excited.”

READ MORE IN REFRESH MIAMI:

I am a Miami-based technology researcher and writer with a passion for sharing stories about the South Florida tech ecosystem. I particularly enjoy learning about GovTech startups, cutting-edge applications of artificial intelligence, and innovators that leverage technology to transform society for the better. Always open for pitches via Twitter @rileywk or www.RileyKaminer.com.