Third Road Management

What Third Road Management does

Third Road Management is a privately held professional services firm founded by John Frank in October 2015 and headquartered in Glen Ellyn, Illinois, in the Greater Chicago Area. The company delivers a 're-imagined CFO suite' for growth-oriented small and mid-sized businesses (revenues roughly $5M to $100M) that are not ready to hire a full-time CFO. Its core service lines are Fractional CFO Services, in which senior CFOs work one to three days per week with clients on strategic, financial, and operational guidance, and Accounting Services covering bookkeeping, payroll, AP/AR, tax/audit support, treasury management, and controllership. A third product, the Business Accelerator, was launched in July 2025 as a more standardized offering for emerging companies.

The business operates on a recurring, subscription-style engagement model with monthly billing and custom-quoted pricing tailored to client scope. Underlying technology is process- and methodology-based rather than platform-based: the firm leverages senior human expertise, proprietary engagement frameworks, and content assets (notably the long-running Drive By Entrepreneur Podcast hosted by the CEO). Distribution is a hybrid of direct sales through website/phone outreach and a referral-driven motion supported by an Executive Advisory Board drawn from mHUB, NACD Chicago, Kroll Securities, and Velocity Catalyst.

The firm is founder-led and bootstrapped, with no disclosed institutional funding. It reports serving over 100 growth-oriented businesses across at least 11 U.S. states, with leadership additions in 2023-2024 (President Ryan Kunkel; COO/CFO Reed Anders, formerly of Gallagher Affinity and PwC) and a stated 'Third Road Accelerated' five-year plan targeting a 5x increase in impact. Revenue reportedly tripled year-over-year and headcount grew 120% as of mid-2024.

Name

Third Road Management

Legal name

Third Road Management LLC

Website

https://thirdroadmgmt.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Third Road Management is a Glen Ellyn, Illinois-based fractional CFO and accounting services firm serving growth-oriented small and mid-sized businesses (under $100M revenue) across 11 U.S. states with recurring part-time CFO, controllership, and bookkeeping engagements.

Ownership category

akta.pro rank

Product category

Fractional CFO and Outsourced Accounting Services

NAICS

Management Consulting Services (54161)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Outsourced Finance & CFO Services (BPAHABAE)

Keywords

• Fractional CFO services
• Accounting services
• Financial consulting
• Bookkeeping services
• Business advisory

Headquarters

HQ city

Glen Ellyn

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fractional CFO Services: Recurring revenue from providing part-time CFO services to multiple clients. CFOs typically spend one to three days per week with each client, offering strategic, financial and operational expertise.
2. Accounting Services: Ongoing accounting support including day-to-day bookkeeping, payroll, AP/AR management, tax/audit support, treasury management and controllership services.
3. Business Accelerator: New strategic operational and financial guidance tool launched in 2025 for emerging companies looking to establish sustainable and scalable foundations for growth.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels6 records

Core offering

Third Road Management delivers part-time, fractional CFO support and outsourced accounting services to small and mid-sized growth-oriented businesses. CFOs typically work one to three days per week with each client, providing strategic, financial, and operational guidance, while the accounting team handles bookkeeping, payroll, AP/AR, tax/audit support, treasury management, and controllership. In 2025 the firm added a Business Accelerator tool to provide strategic operational and financial guidance for emerging companies.

Product overview

Third Road Management is a fractional CFO and financial services firm offering a re-imagined CFO suite. The core offerings include Fractional CFO Services (strategic, part-time CFO support working 1-3 days per week with clients) and Accounting Services (bookkeeping, payroll, AP/AR management, tax/audit support, treasury management, and controllership). Additionally, the company launched a Business Accelerator tool in 2025 for emerging companies. The firm also produces the Drive By Entrepreneur Podcast as a content resource. The company targets small to mid-sized organizations with revenues under $100 million that lack in-house strategic financial expertise.

Differentiator

Problem solved

Functional benefit

Brands

• Third Road Accelerated: An aggressive five-year national expansion plan announced in October 2023 to expand strategic offerings and nationwide footprint.
• Drive By Entrepreneur Podcast

Products and services

• Fractional CFO Services Part-time, strategic CFO support delivered one to three days per week to small and mid-sized businesses that need Big 4-level financial expertise without the cost of a full-time executive hire. CFOs serve as trusted advisors across strategic, financial, and operational matters.
• Accounting Services Outsourced accounting support including day-to-day bookkeeping, payroll, AP/AR management, tax/audit support, treasury management, and controllership to maintain accurate financial records for client businesses.
• Business Accelerator A strategic operational and financial guidance tool launched in July 2025 for emerging companies seeking to establish a sustainable and scalable foundation for growth.

Quantifiable outcome

• Over 100 growth-oriented businesses served as trusted partners
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and minor.

• mHub (Haven Allen)coreStrategic or Co-development Partner · 6 August 2024Haven Allen, CEO and co-founder of mHub (nation's largest independent HardTech and manufacturing center) and managing partner of Product Impact Fund, serves on Third Road Management's Executive Advisory Board. mHub provides connections to manufacturing and hardware startups that could benefit from fractional CFO services.
• NACD Chicago Chapter (Greg Hedges)coreStrategic or Co-development Partner · 6 August 2024Greg Hedges, President and CEO of NACD Chicago Chapter, adjunct professor at Notre Dame, and advisory roles at P33 Chicago and Chicago Quantum Exchange, serves on the Executive Advisory Board. Provides governance and corporate leadership expertise.
• Kroll Securities, LLC (Laura McNaughton)coreStrategic or Co-development Partner · 6 August 2024Laura McNaughton, Managing Director at Kroll Securities LLC (leading independent provider of global risk and financial advisory solutions), serves on the Executive Advisory Board. Brings mergers and acquisitions advisory expertise.
• Velocity Catalyst (Desiree Vargas Wrigley)coreStrategic or Co-development Partner · 6 August 2024Desiree Vargas Wrigley, founding general partner of Velocity Catalyst (investing in early-stage founders) and CIO at P33 Chicago, serves on the Executive Advisory Board. Provides venture capital network and deal flow for startup clients.
• NWC MediaminorGTM or Marketing PartnerNWC Media is credited as the digital agency behind Third Road Management's website and branding (referenced in footer). They also sponsor the Drive By Entrepreneur Podcast.
• Two Hound RedminorGTM or Marketing PartnerPodcast sponsor for the Drive By Entrepreneur Podcast, providing marketing support and brand visibility.
• WGN Radio / Wintrust Business LunchminorGTM or Marketing PartnerMedia partnership featuring Third Road Management CEO John Frank on WGN Radio's Wintrust Business Lunch program discussing market trends and financial topics.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• B2B CFO: B2B CFO is a national fractional CFO and financial management firm serving small and mid-sized businesses. It is the closest large-scale analog to Third Road Management's model and target segment.
• TGG Accounting: TGG (The Growth Garage) is a Chicago-based fractional CFO and accounting firm serving growth-stage businesses. It directly competes with Third Road Management in the same Midwest mid-market segment.
• CFO Partners: CFO Partners provides fractional CFO and financial advisory services to small and mid-sized businesses. It is a direct peer in the outsourced CFO niche Third Road Management serves.
• CFO.Com: CFO.com is an online resource and network connecting growing companies with fractional CFOs and financial executives. It overlaps directly with Third Road Management's fractional CFO delivery model and SMB target market.
• Bell Tower Partners: Bell Tower Partners provides fractional CFO and financial management services to growth-stage and middle-market companies. It is comparable to Third Road Management in both service offering and target client profile.

Emerging players

• Paro: Paro is an AI-powered marketplace that matches companies with fractional finance and accounting talent. It overlaps with Third Road Management by offering on-demand CFO/finance expertise to growth-stage businesses.

Broad incumbents

• BDO USA: BDO USA is a top-tier accounting and advisory firm offering outsourced CFO, controllership, and fractional finance services. As a broad incumbent, it competes with Third Road Management for mid-market clients seeking outsourced financial leadership.
• RSM US: RSM US is a large accounting and consulting firm serving the middle market, with outsourced finance and CFO advisory practices. It is a broad incumbent competing for the same mid-sized growth companies Third Road Management targets.
• Baker Tilly US: Baker Tilly is a national advisory, accounting, and consulting firm offering fractional CFO and outsourced finance services. It competes with Third Road Management for mid-market clients needing senior financial leadership.

Others

• Kforce Inc. Kforce is a staffing firm placing finance and accounting professionals, including interim and fractional CFOs, at client companies. It is an adjacent, talent-supply competitor to Third Road Management's in-house fractional CFO model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCBDzjvJ36v44nvQdue2_dLw
• Facebookfacebook.com/thirdroadmanagement
• LinkedInlinkedin.com/company/third-road-management-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Third Road Management