Firmbase, a Tel Aviv, Israel-based provider of a Financial Planning and Analysis (FP&A) platform, raised $12M in funding.
The round was led by S Capital with participation from Meron Capital and a wide group of unicorn startup founders and prominent angel investors, including executives from Google, Amazon and Microsoft.
The company intends to use the funds to expand operations and its business reach.
Founded in 2021 and led by CEO Tomer Federman, and Vlad Shumlin (CTO), Firmbase leverages generative AI to provide a collaborative, modern financial planning and analysis platform that allows CFOs and finance teams to build data-driven budgets and accurate financial forecasts, automatically monitor plans against actual company performance, and identify and analyze the main drivers that impact business results.
The SaaS platform incorporates collaboration and permissions features so all parts of the business can work together to produce the most accurate budgets and financial forecasts. The platform’s advanced budget vs. actuals solution enables companies to automatically track their plans against performance, and proactively adjust forecasts quickly.
The software integrates with a company’s financial and operational systems to extract live data, like employee headcount and expenses. It provides real-time visibility and together with the platform’s modeling engine allows companies to quickly build dynamic budgets and run scenario planning.
The solution is used by companies including ControlUp, WSC Sports, Walnut, Axis Security, Similarweb and Yotpo.
FinSMEs
22/05/2023