Firmbase, a Tel Aviv, Israel-based software company that offers a financial planning and analysis (FP&A) platform for tech companies, announced that it raised $12 million in seed funding.
The round was led by S Capital, with participation from Meron Capital and a wide group of 25+ prominent angel investors, including unicorn startup founders, and executives at Google, Amazon, and Microsoft.
The company aims to provide agile planning and continuous forecasting methodologies to finance teams, which have become crucial in the last couple of years.
Firmbase's SaaS platform can be implemented in just a few days and offers collaboration, data analysis, and permissions features to help finance teams, budget owners, and decision-makers produce accurate financial forecasts and scenario planning.
“We founded Firmbase to make FP&A attainable, collaborative and data-driven, so companies can be better prepared for future scenarios and make quick decisions with confidence. As we enter this new phase, we remain laser-focused on delivering maximum value to our customers." said Tomer Federman co-founder and CEO of Firmbase.
Company: Firmbase Ltd.
Round: Seed Round
Funding Month: May 2023
Lead Investors: S Capital
Additional Investors: Meron Capital and 25+ angel investors
Company Website: https://www.firmbase.io/
Software Category: Modern Financial Planning and Analysis Platform
About the Company: Founded in 2021 by Tomer Federman and Vlad Shumlin, Firmbase is the modern financial planning and analysis platform for tech companies, trusted by FP&A teams at some of the fastest-growing companies in the world, including Walnut, WSC Sports, ControlUp, Freightos, and Similarweb. The platform integrates with a company's financial and operational systems to extract live data and provide real-time visibility. It also offers an advanced budget vs. actuals solution that automatically tracks plans against performance and adjusts forecasts proactively.