Accounting
Jirav Announces $20M Series B Round Led By Cota Capital
Jirav will use the funds to further accelerate product development, broaden its customer base across small-medium businesses (SMBs), mid-market companies, and accounting firms while hiring talent to support its growth.
Jul. 13, 2023
Jirav, an all-in-one financial planning and analysis (FP&A) solution, and the preferred budgeting and forecasting partner of CPA.com, has announced $20M in Series B funding led by Cota Capital. Jirav will use the funds to further accelerate product development, broaden its customer base across small-medium businesses (SMBs), mid-market companies, and accounting firms while hiring exceptional talent to support its growth. The round was supported by Born Capital and Alumni Ventures and existing investors Information Venture Partners and Bluefish Ventures. In addition, Kevin Jacques from Cota Capital and Erik Asgeirsson, CPA.com CEO, will join the Jirav board.
“We are incredibly grateful for the confidence that our investors have placed in us with this funding. This signifies a huge milestone for Jirav. It’s a testament to our team’s hard work and our customers’ unwavering trust in our FP&A solutions,” said Martin Zych, CEO of Jirav. “With these resources, we’ll be able to supercharge our mission to empower SMBs and mid-market companies with the financial insights they need to navigate and succeed in any business landscape.”
A total FP&A solution for small and midsize businesses and accounting firms, Jirav offers the customization needed to model any aspect of a business. Utilizing the learnings and best practices of the more than 4,000 businesses on their platform, Jirav has built a library of prebuilt solutions for each industry, including financial models, KPIs, reports, and value-driven dashboards. This allows for businesses to realize faster time to value, increased efficiency, and accelerated success.
Client Advisory Services (CAS) is a high-growth area with accounting firms. Businesses increasingly want future facing insights that help them run their operations efficiently. Technology-enabled accounting firms are uniquely poised to support them with forecasting and planning advice on how to better shape their future. With a strong partnership program, Jirav helps these modern firms generate more revenue, gain a strategic advantage, and standardize for scale.
“During my time at Intuit leading the corporate development team, I learned firsthand the importance of the Accountant channel. At SMB and mid-market companies, accountants and financial advisors play a key role in selecting and driving financial applications for the business and demand a highly capable and well-designed product,” said Kevin Jacques, Partner at Cota Capital. “In a market crowded with simple spreadsheet plug-ins, Jirav uniquely stands out as meeting the needs of accounting firms with the ability to support a scalable CAS practice.”
As the economy has strained businesses over the past year, Jirav’s solution has helped its customers gain visibility into their financial status while easily determining how current decisions will impact future revenue. Jirav has experienced record growth over the past year and continues to add hundreds of new companies onto the platform every month. Customer sectors span a number of industries across SaaS, technology, life sciences, CPG, e-commerce, services, and more.
“This funding isn’t just about growth—it’s about our commitment to continuously innovate and redefine the standard for financial planning and analysis tools for accounting and finance professionals across the world,” continued Zych.
Jirav is the preferred budgeting & forecasting provider of CPA.com and the accounting industry, and is highly rated for its industry-leading platform on review sites such as G2 Crowd. Recent awards have included a 2023 Momentum Leader and High-Performer in the Mid-Market for Spring 2023, along with awards for Ease of Use and Best Customer Support from finance and accounting professionals.