US fintech start-up Mosaic has raised $25 million in a Collection B funding spherical, bringing its whole funding so far to $46 million.
Mosaic plans to make use of the money to rent extra employees
The spherical was led by Founders Fund and noticed participation from current buyers Basic Catalyst, XYZ Enterprise Capital, Fifth Down Capital and Pals & Household Capital.
The Mosaic platform was launched in 2019 and was designed to ‘reboot’ monetary planning and evaluation (FP&A) inside firms and make the position of chief monetary officer simpler and simpler.
Mosaic’s “strategic finance platform” centres round knowledge integration, real-time analytics and agile planning and supplies finance leaders full management over what knowledge they need to analyse with out the necessity for technical ability units.
Mosaic CEO Bijan Moallemi says the corporate is “breaking down knowledge silos, bringing all of the items of an organization’s puzzle collectively and empowering chief monetary officers to focus extra of their effort and time on forward-looking development initiatives”.
“A wave of department-specific cloud options has fragmented firm knowledge. And there hasn’t been a powerful sufficient answer to assist finance groups at high-growth firms deal with that fragmentation to maneuver past legacy FP&A processes,” Moallemi provides.
The California-based firm says the Collection B money will go in the direction of increasing its product growth and go-to-market groups because it provides new monetary companies to its product suite, together with a brand new topline planning element set to debut this 12 months.
Mosaic chief working officer Joseph Garafalo says: “Extremely expert finance professionals spend a majority of their effort wrangling knowledge collectively from a dozen instruments simply to unlock fundamental info about their enterprise.
“Mosaic is constructing the connective tissue that automates this course of so finance groups can spend much less time within the again workplace and extra time enjoying the a part of a strategic enterprise companion.”
