Jirav, a Seattle-based SaaS platform, has successfully raised $20 million in a Series B funding round. The round was led by Cota Capital and included participation from Born Capital, Alumni Ventures, Information Venture Partners, and Bluefish Ventures. This funding will be used to accelerate product development, expand the customer base, and recruit top talent.
The Genesis of Jirav
Founded by Martin Zych and Steve Turner, Jirav was born out of the need for an automated, cloud-based solution for financial planning and analysis (FP&A). The duo noticed that many companies were stuck with legacy tools that made it difficult to measure and plan for changes in a holistic way.
According to TechCrunch Zych said, “The breaking point for me came after a company I was working for finally had a large enough budget to spend on a financial planning and analysis (FP&A) solution. It cost us nearly $100,000, and took six months to implement and get to parity with our existing Excel model. I knew there needed to be a faster and more cost-effective solution for finance professionals.”
Jirav offers a library of prebuilt FP&A solutions for specific industries, including financial models, KPIs, reports, and dashboards. Once companies connect their accounting, workforce, and operational data to the platform, they can create budgets and scenario plans to analyze changes in their business.
Zych added, “Companies need robust financial planning and analysis tools both in a hot market as well as a down economy. In fact, they may need them even more to navigate uncertainties and optimize resources.”
The Future of Jirav
With the new funding, Jirav plans to further accelerate product development and innovation. The next steps include making the platform faster, leveraging artificial intelligence (AI) to deliver future-facing insights, adding capacity-building features, and enhancing reporting.
Jirav also aims to expand its customer base and create a thriving community that can share best practices, industry insights, and success stories. The company is also investing in hiring top talent to develop innovative products, enable seamless integrations, and deliver exceptional customer experiences.
The $20M Series B funding is a testament to Jirav’s commitment to transforming the FP&A landscape and empowering finance professionals. With this funding, Jirav is well-positioned to continue its growth trajectory and product development, further innovating in the space.
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