Sudozi, a financial software innovator, has launched new solutions to help finance teams automate workflows and improve spend decisions. The company also recently announced the close of a $4.3 million seed round led by Pear VC with participation from S3 Ventures and Mischief. Founded by the former CFO of Uber U.S. and Canada, Sudozi has also earned the financial backing of an impressive collection of founders and early executives at DoorDash, Eventbrite, Plaid, Robinhood, Stripe, and Uber, among others.
“Establishing a ground truth view of a scaling organization’s finances is an acute need. While other solutions merely create a dashboard debacle and neither automate workflows nor provide an opportunity for informed decision-making and collaboration, Sudozi makes real-time finance a reality,” said Mar Hershenson, Pear VC. “We’ve been searching for the future of bottoms-up strategic finance, and we think this is the right moment, right founder, and right solution to make an immediate impact. Solving the primary challenges of internal financial teams for rapidly growing organizations, Sudozi CEO Rose Punkunus has assembled a world-class tech team from Uber, Google and Carta, among other companies, and is on track to accelerate strategic finance.”
After early successes helping finance and accounting teams at high-growth companies like Bigeye, EasyHealth and Wheel move from manual, tedious workflows to easy, data-driven processes, Sudozi fine tuned its beta product and added critical capabilities, such as real-time budget management.
“Before Sudozi, it felt like there were too many avenues for expenses to be approved; Slack, email, conversations, etc.,” added Ryan Suneson, VP Finance at Ontic. “Sudozi has helped us get better spend visibility so we can easily track and manage contracts and vendors, make data-driven decisions, and even avoid costly auto-renew surprises. The platform has already saved us thousands of dollars.”
The new version of the Sudozi platform closes financial data gaps so customers can run a centralized financial hub to collaborate, get real-time answers and make intelligent budget decisions across departments. Sudozi now offers:
- Automated intake workflows to track vendor spend requests, streamline approvals, increase collaboration and empower budget owners
- Real-time budget comparisons and intelligence to track actual performance against the plan so teams can identify and avoid potential issues
- Automated department roles and permissions to securely share relevant details with department leaders and properly hide sensitive information
- Live integration with QuickBooks Online to help complete the financial picture
- A consolidated database and contract repository to track all vendors, SOWs, commitments and renewals to avoid wasted budget and surprise expenses
“Modern finance teams want to manage vendor procurement, headcount and budget tracking through one platform, but the data needed to do so is stuck in spreadsheets and disparate systems. Most companies don’t have the resources to build an internal system to connect all the dots and give their finance teams the visibility they need to support rapid business growth,” noted Sudozi Founder and CEO Rose Punkunus. “We want to make it easy for teams of all sizes to get the real-time financial intelligence they need.”
Supporting its own hypergrowth, Sudozi will use the seed funding to grow its team, enhance its solution offering and rapidly expand its market reach. The company plans to add more capabilities to its platform over time, with an immediate focus on building out additional data integrations with primary financial tools like Sage Intacct and Oracle NetSuite.