Mosaic, a strategic finance platform for real-time data analysis and collaborative financial planning, has recently raised $26m.
The firm succeeded in gathering $26m during its Series C funding round. Spearheaded by OMERS Ventures, the round witnessed contributions from Mosaic’s existing investors – Founders Fund, General Catalyst, and Friends and Family Capital.
Mosaic has carved its niche in the FinTech sector by offering a unique platform, blending AI with strategic financial planning. This innovative approach addresses the challenges of balancing high growth with capital efficiency for companies. It particularly empowers SMB and mid-market finance leaders by enabling them with the latest AI-driven decision-making functionality.
The newly raised funds are set to bolster Mosaic’s investment in AI. The aim is to augment the strategic roles of high-growth SMB and mid-market finance leaders in their businesses. The finance leaders, armed with advanced AI tools, can fortify their contributions as strategic partners.
Adam Landefeld, head of product at Mosaic, commented on Mosaic’s strong growth, despite the ongoing macroeconomic downturn, saying it’s “a testament to the innovation gap in the market as companies recognise the need for the next generation of strategic finance software.” He further highlighted Mosaic’s commitment to “reducing workflow friction and simplifying financial decision-making for our customers.”
The company has been on a steady growth trajectory since its inception in 2019. Mosaic’s co-founder and COO, Joe Garafalo, shared his experience of struggling with traditional FP&A software during his tenure at Palantir. He emphasised that Mosaic’s AI-powered platform can streamline workflows, thus helping users avoid common pitfalls that negatively affect value in this space.
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