Engine Room Receives Investment From Red Iron Group

The company plans to use the funds to support organizational growth, improve services throughout the client lifecycle, and use technology and AI to deliver better results for clients.

The goal is to strengthen Engine Room’s ability to support companies from the seed stage through IPO and beyond. Engine Room will continue operating independently as a founder-led company under the Engine Room brand.

Since 2012, Engine Room has helped more than 300 venture-backed life science companies grow. The firm combines hands-on financial operations with strategic CFO-level guidance to build and manage efficient outsourced finance and accounting teams for its clients.

Engine Room will continue operating as an independent company led by co-founders Mike Rose, and Carole-Lynn Glass, who will remain major owners alongside Red Iron Group. The firm will keep its brand, leadership team and focus on the life sciences industry.

Drug development and life science company growth often take many years. Red Iron Group’s investment model is designed for long term ownership measured in decades rather than short fund cycles, allowing Engine Room to invest in new capabilities, and client relationships without pressure to exit quickly.

Red Iron Group has invested in specialized finance and accounting firms across different industries and believes the most successful firms are those with deep industry expertise. Over the past decade, Engine Room has built strong sector knowledge, talent, and operational discipline. The investment demonstrates Red Iron Group’s support for specialized firms that provide essential, mission-critical services.

"Engine Room is a recognized standard-setter in life sciences finance and accounting, which is among the most demanding sectors for financial professionals," said Ben Bisconti, Co-Chief Executive Officer of Red Iron Group. "Mike, Carole-Lynn, and the team have built a firm with deep expertise, a culture of integrity, and a singular focus on a sector where execution at the highest level matters. We are pleased to support continued investment in the capabilities and service model the firm has built."

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"Engine Room clients choose the firm for our tight concentration on life sciences, a focus Red Iron Group recognized from the outset. This investment will allow us to expand our team, deepen our capabilities, and continue investing in systems that help our clients reach critical milestones — while preserving our proven approach and unique culture," said Mike Rose, Co-Founder and Chief Executive Officer of Engine Room.

"Engine Room has been able to expand across market cycles for the past 15 years. As we continue scaling the business to meet client needs, we're excited to partner with the team at Red Iron, who share our commitment to balancing growth with service excellence," said Carole-Lynn Glass, Co-Founder and Chief Operating Officer of Engine Room.

About Engine Room

Founded in 2012 by Mike Rose and Carole-Lynn Glass, Engine Room is a finance and accounting services firm with offices in the Bay Area and San Diego. The company supports venture-backed life science businesses across the United States by providing scalable financial services, including GAAP accounting, financial planning, and analysis, payroll, clinical trial and grant accounting, compliance, and equity administration, along with CFO level strategic guidance.

About Red Iron Group

Founded in 2021, by Ben Bisconti and Jason Klein, Red Iron Group is a private investment firm that works with business owners and management teams to grow market-leading companies. The firm supports organic growth, strategic acquisitions, and the use of AI and technology to improve operations, customer relationships and long term growth across lower-middle-market businesses in different industries.

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