Trace scores $8.3m in its latest funding round

Trace, which claims to be the first service desk for finance, has closed a funding round on $8.3m from Greylock and Uncork Capital.

Other commitments to the round came from Redpoint Ventures and Nyca Partners, as well as a number of angel investors.

The platform allows people to collaborate on business financial decisions, including hiring, budgeting and spending. Its collaborative workflows, automation and analytics tools, creates a single location for companies to mange their operations.

Greylock general partner Sarah Guo said, “Every CFO working at a high-growth company wants to improve how they collaborate with other stakeholders. Trace has built the first platform for Finance Service Management, a transparent single source of truth that serves both budget owners and the finance team. We expect it to be as revolutionary for financial operations as IT Service Management was for IT.”

Redpoint Ventures recently backed the $250m Series C round of Orca Security. The funding round brought the cybersecurity company valuation to $1.2bn.

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