Finicast Announces Seed Funding to Scale its Next Generation FinTech Platform for Collaborative Enterprise Planning

The raise will support product development and go-to-market activities for Finicast's collaborative Financial Planning and Analysis platform

SAN MATEO, Calif., July 27, 2023 /PRNewswire/ -- Finicast, a modern SaaS enterprise collaborative planning platform that enables teams to work together as they model, plan, forecast, and track performance, announced today that it has raised $12.8M in seed funding, led by Celesta Capital. This will be instrumental in furthering the company's collaborative planning platform and go-to-market strategy.

Finicast empowers organizations of all sizes and industries to unlock the true potential of their business planning. With businesses experiencing unparalleled financial pressure, it is more important than ever that efficient tools empower individuals to adapt to dynamic business needs and drive rapid results. By enabling companies to adopt multi-dimensional collaborative planning through the platform, Finicast seamlessly combines the power of traditional planning platforms with the flexibility of modern SaaS tools.

"At Finicast, we recognize the limitations of conventional planning solutions in today's dynamic business landscape," said Daniel Reif, CEO at Finicast. "Our aim is to equip teams with the tools they need to create and update flexible models, collaborate seamlessly across departments, and scale effortlessly to handle large-scale data sets. Through this funding, we will be able to unlock new pathways to achieve accurate forecasting and planning in a bespoke fashion."

"Today's dynamic business environment demands more flexible, collaborative, and easy-to-use solutions that can support companies in their strategic planning and analysis," said Michael Marks, Founding Managing Partner at Celesta Capital. "Finicast is delivering on the clear need to bring more simplicity to this complex process. We are thrilled to support their next phase of growth."

"We needed to move beyond spreadsheets to meet the velocity of our business, but couldn't afford to put Hinge on pause for a long implementation," said Peter Tatrai, Director of Strategic Planning at Hinge Health. "Finicast let us get started on the platform quickly and keep building to bring more models and departments online. I like that we can connect the different systems such as BI, legacy cost, and accounting - all coming together and merging in Finicast."

The platform provides the fastest time-to-value with a lower price entry point, requires fewer onboarding resources, and offers a more flexible workspace compared to other solutions. Finicast allows individuals to collaborate via task management to input data directly into models based on permissions and to co-build models with advanced version control. Leveraging its proprietary PivotFrame data engine technology and intuitive user experience, Finicast delivers a centralized planning platform that empowers businesses to make precise decisions and drive organizational efficiency.

About Finicast
Finicast provides a modern SaaS enterprise planning platform to model, plan, forecast, and track performance across organizations of all sizes. Using a proprietary data engine combined with an intuitive user experience, Finicast provides a centralized planning platform for companies that have reached the limits of traditional planning solutions due to their business scale, operational complexity, and market dynamics. Based in San Mateo, CA, Finicast serves customers across many industries and sizes. To learn more, visit www.finicast.com.

About Celesta Capital
Celesta Capital is a leading deep technology venture capital firm that leverages synergies between leading centers of innovation in the US, India, and Israel to create globally impactful enterprises. The Celesta team, with deep operating experience, has built multi-billion-dollar businesses at companies such as Intel, Cisco, and Flex. The firm has funded over 90 technology companies globally and actively invests in the following verticals: software, semiconductors, intelligent systems, bioconvergence, and industry transformers. Learn more at http://celesta.vc.

SOURCE Finicast