Abacum, a San Francisco, CA-based SaaS maker geared toward upgrading midsized companies’ financial planning and analysis tools, raised a $25 million Series A round. The latest funding brings its total raised to date to $32 million.
The round was led by European VC Atomico, with participation from Creandum, FJ Labs, S16VC, and other existing investors.
It added that some “notable” unicorn founders and executives also joined this round as angels, including Adyen CFO Ingo Uytdehaage; Infarm CFO Carmine Visconti; JobandTalent co-founders Felipe Navío and Juan Urdiales; and BlockFi founder Zac Prince.
Abacum will use the Series A funding primarily for product development and growth. As part of the investment, Atomico principal Terese Hougaard will join its board.
Company: Abacum Inc
Raised: $25.0M
Round: Series A
Funding Month: November 2021
Lead Investors: Atomico
Additional Investors: Creandum, FJ Labs, S16VC, Ingo Uytdehaage, Carmine Visconti, Felipe Navío, Juan Urdiales, and Zac Prince
Company Website: https://www.abacum.io/
Software Category: Collaborative FP&A software
About the Company: Abacum is a collaborative FP&A software for tech finance teams that automates data transformation and performance analysis, to help you turn insights into decisions 10x faster. Abacum provides the platform strategic finance teams need to do exactly this: Aggregate and combine existing sources of business data, forecast, plan, and crucially collaborate with all other teams in a company. Abacum eliminates manual tasks such as copy-pasting data to spreadsheets, sending back-and-forth emails to business partners, and tiresome number-crunching so you spend time on the important stuff. Abacum’s goal is to empower finance teams to be strategic players in their organizations through fast execution.
Source: https://techcrunch.com/2021/11/30/abacum-series-a/