Accounting
Jirav Gets $8.3 Million Boost in Series A Funding
Funding led by Information Venture Partners, with additional investors Seven Peaks Ventures (SPV), NextWorld Capital and many prominent angel investors with deep domain expertise in Fintech.
Jul. 21, 2020
Jirav, a growing leader in finance software focused on providing fast insights to businesses around the world, has received $8.33 million in Series A funding led by Information Venture Partners. Additional investors include Seven Peaks Ventures (SPV), NextWorld Capital and many prominent angel investors with deep domain expertise in the areas of Fintech, financial planning and analysis (FP&A), corporate performance management (CPM) and world-class cloud accounting software.
“Enterprise software is usually clunky, difficult to use, and takes forever to implement. It sucks. Finance teams and their software need to be lean, modern and fast,” said Martin Zych, the CEO and co-founder of Jirav. “This capital will help us continue to expand our solution for controllers, VPs of finance and CFOs, improving the platform and tools I dreamt were available when I was leading finance and accounting at high growth companies.”
The investment comes as the COVID-19 pandemic is disrupting business and consumer buying habits, forcing companies to re-evaluate their business models as they seek insights into their financial performance and forecasts for the future. Finance leaders are leveraging Jirav’s all-in-one business planning software to quickly create accurate financial forecasts, scenario comparisons, zero-based budgets and customized reports and dashboards that make sense to all stakeholders.
Jirav replaces the complexity and risk associated with manual spreadsheets by installing driver-based financial modeling at the core of the solution, which enables this bottom-up approach for small and medium-sized businesses so they can achieve their goals. The cloud-based platform also provides unrivaled access and collaboration across teams—a critical capability for companies working remotely during the pandemic and through all economic cycles. As a result, Jirav is experiencing unprecedented growth and momentum even through the economic recession.
“Companies and the economy evolve so quickly that accurate forecasting has to be fast and easy,“ said Robert Antoniades, co-founder of Information Venture Partners, an early investor in Adaptive Insights before their $1.6 billion acquisition in 2018. “We’re investing in Jirav because they have developed the next-generation budgeting platform to be capable of onboarding customers in weeks, not months. And their customers are generating valuable insight-laden reports in minutes, not hours.”
“Good technology should remove friction and make our jobs easier,” said Tom Gonser, who co-founded DocuSign before joining Seven Peaks Ventures. “Jirav is doing that for finance. And just like DocuSign, the Jirav team runs much of the company between both Seattle and San Francisco. As a company with its own distributed workforce, Jirav is well-positioned to help finance teams adopt the cloud technology they need to succeed in a remote work environment.”