DataRails, a Tel Aviv, Israel-based financial planning and analysis platform that automates financial reporting and planning, raised $50 million in Series B funding.

The round was led by Qumra Capital, alongside new investors La Maison Partners and Claltech, as well as existing investors Zeev Ventures Vertex Ventures Israel, Innovation Endeavors, Joey Low, Vintage Investment Partners, Oryzn Capital, and ICON VENTURES, LLC. 

With this funding, DataRails plans to use to continue adding more functionality to its existing product, including more predictive modeling capabilities, and to start to build new functionality for other spreadsheet-using teams beyond the finance department such as marketing, sales, and human resources.

Company: DataRails Ltd.

Raised: $50.0M

Round: Series B

Funding Month: March 2022

Lead Investors: Qumra Capital 

Additional Investors: La Maison Partners, Claltech, Zeev Ventures Vertex Ventures Israel, Innovation Endeavors, Joey Low, Vintage Investment Partners, Oryzn Capital, and ICON VENTURES, LLC

Company Website: https://www.datarails.com/

Software Category: Financial planning and analysis platform

About the Company: Founded in 2015, DataRails is a financial planning and analysis platform that automates financial reporting and planning while enabling finance teams to continue benefiting from the familiar spreadsheets and financial models of Excel. DataRails FP&A solution is an advanced financial planning and analysis software for Excel users who wish to benefit from financial automation. DataRails is on a mission to fundamentally change how analytics is used within the finance function. DataRails is leading the transformation of financial teams’ operations, empowering teams in every organization with deep business intelligence (BI) capabilities. DataRails is based in Tel Aviv, Israel.

Source: https://techcrunch.com/2022/03/10/datarails-50-million-excel/