January 27, 2025

The Wall Street Journal: Now Wanted in Silicon Valley — Ho-Hum Businesses With Thin Profit Margins

Crescendo

WSJ: Venture-capital firms are bringing AI and dealmaking to accounting, property management and other unglamorous fields.

Wall Street Journal Excerpt
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Among the flushest new players bringing AI to quiet professions is Long Lake Management Holdings, a startup founded 13 months ago. Since then, Long Lake has raised $600 million plus from investors and acquired around a dozen companies that collectively employ about 1,400 workers, people familiar with the company said.

Long Lake’s first deals were for businesses that manage the operations of homeowners associations. Those management companies are now adopting AI tools for tasks like generating presentations for HOA board meetings. It is targeting an expansion into other industries, including human-resources services.

Another startup that attracted venture funding is Crete Professionals Alliance, which has acquired multiple regional accounting and professional-services firms. Crescendo, which launched last year, bought out a customer-service company that had over 3,000 workers its first deal. Dwelly, a British property-tech startup, did a deal last year for a home-rental agency that managed over 1,000 properties.

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Read the full article in the Wall Street Journal.

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Crescendo developed the world’s first augmented-AI customer experience (CX) platform that combines the power of AI with human domain expertise to deliver outcome-driven results for fast-moving, digitally-native enterprises growing quickly. With its unique approach, Crescendo offers scalable solutions that optimize both frontline and back office operations, helping companies create meaningful, personalized customer experiences.

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