Jirav has received $8 million in Series A funding to boost development and adoption of its all-in-one budgeting, forecasting, reporting and dashboarding software. The value of analytics has become rapidly apparent during the novel coronavirus pandemic as businesses face disruptions to unprecedented degrees.
Jirav’s cloud-based solution provides user-driven financial modeling, which sits at the core of the software, upon which functions like scenario comparison, zero-based budgets (budgets where expenses have to be justified and approved for each new period), and customized reports and dashboards are built. The software also has built-in collaboration capabilities for a time of social distancing.
“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, CEO and co-founder of Jirav, in a statement. “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 Series A funding round was led by Information Venture Partners, which was an early investor in Adaptive Insights before its $1.6 billion acquisition in 2018.
“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, also in a statement. “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.”
