Predict your next investment

Angel Investor (Individual)

See what CB Insights has to offer

Investments

35

Portfolio Exits

11

About Thomas Lehrman

Thomas D. Lehrman, co-founder of Gerson Lehrman Group and former Analyst of Tiger Management Corporation, is a New york based angel investor interested in Information Technology and Services.

Thomas Lehrman Headquarter Location

New York, New York,

United States

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Thomas Lehrman News

YC-backed Abacum nets $7M to empower finance teams with real-time data and collaboration tools

Apr 8, 2021

SaaS to support mid-sized companies’ financial planning with real-time data and native collaboration isn’t the sexiest startup pitch under the sun but it’s one that’s swiftly netted Abacum a bunch of notable backers — including Creandum, which is leading a $7M seed round that’s being announced today. The rosters of existing investors also participating in the round are Y Combinator (Abacum was part of its latest batch), PROFounders, and K-Fund, along with angel investors such as Justin Kan (Atrium and Twitch co-founder and CEO); Maximilian Tayenthal (N26 co-founder and co-CEO & CFO); Thomas Lehrman (GLG co-founder and ex-CEO), Avi Meir (TravelPerk co-founder and CEO); plus Jenny Bloom (Zapier CFO and Mailchimp ex-CFO) and Mike Asher (CFO at Neo4j). Abacum was founded last year in the middle of the COVID-19 global lockdown, after what it says was around a year of “deep research” to feed its product development. They launched their SaaS in June 2020. And while they’re not disclosing customer numbers at this early stage their first clients include a range of scale-up companies in the US and in Europe, including the likes of Typeform, Cabify, Ebury, Garten, Jeff and Talkable. The startup’s Spanish co-founders — Julio Martinez, a fintech entrepreneur with an investment banking background, and Jorge Lluch, a European Space Agency engineer turned CFO/COO — spotted an opportunity to build dedicated software for mid-market finance teams to provide real-time access to data via native collaborative that plugs into key software platforms used by other business units, having felt the pain of a lack of access to real-time data and barriers to collaboration in their own professional experience with the finance function. The idea with Abacum is to replace the need for finance teams to manually update their models. The SaaS automatically does the updates, fed with real-time data through direct integrations with software used by teams dealing with functions like HR, CRM, ERP (and so on) — empowering the finance function to collaborate more easily across the business and bolster its strategic decision-making capabilities. The startup’s sales pitch to the target mid-sized companies is multi-layered. Abacum says its SaaS both saves finance teams time and enables faster-decision making. “Prior to using Abacum, finance analysts in our clients were easily spending 50% to 70% of their time in manual tasks like downloading files from different systems, copy&pasting them in massive spreadsheets (that crash frequently), formatting the data by manually adding and removing rows, columns and formats, connecting the data in a model prone to manual error (e.g. vlookups & sumifs),” Martinez tells TechCrunch. “With Abacum, this entire manual part is automatically done and the finance professionals can spend their time analyzing and adding real value to the business.” “We enable faster decisions that were not possible prior to Abacum. For instance, some of our clients were updating their cohort analysis on a quarterly basis only because the associated manual tasks were too painful. With us, they’re able to update the analysis weekly and take better decisions as a result.” The SaaS also supports decisions in another way — by applying machine learning to business data to generate estimates on future performance, providing an AI-based reference point based on historical data that finance teams can use to inform their assumptions. And it aids cross-business collaboration — allowing users to share and gather information “easily through workflows and permissions”. “We see that this results in faster and richer decisions as more stakeholders are brought into the process,” he adds. Martinez says Abacum chose to focus on mid-market finance teams because they face “more challenges and inefficiencies” vs the smaller (and larger) ends of the market. “In that segment, the finance function is underinvested — they face the acute complexities of scaling companies that become very pressing but at the same time they are still considered a support function, a back-office,” he argues. “Abacum makes finance a strategic function — we deliver native collaboration to finance teams so that they become the trusted business partner they want to be. We also see that the pandemic has accelerated the need for finance teams to collaborate effectively and work remotely,” he adds. He also describes the mid market segment as “fairly unpenetrated” — claiming many companies do not yet having a solution in place. While competitors he points to when asked about other players in the space are long in the tooth in digital terms: Adaptive Insights (2003); Host Analytics (2001); and Anaplan (2008). Commenting on the seed round in a statement, Peter Specht, principal at Creandum, added: “The financial planning processes in many companies are ripe for disruption and demand more automation. Abacum’s slick solution empowers finance teams to be more collaborative, efficient and better informed with access to real-time data. We were impressed by their user-friendly product, the initial hiring of top talent, and crucially the strong founders and their extensive operational experience — including as CFOs and entrepreneurs who have experienced the problem first-hand. We are delighted to be part of Abacum’s journey to empower global SMEs to bring their financial operations to new levels.” Abacum’s seed financing will be ploughed into product development and growth, per Martinez, who says it’s focused on wooing finance teams in the US and Europe for now.

Thomas Lehrman Investments

35 Investments

Thomas Lehrman has made 35 investments. Their latest investment was in G2 as part of their Series D on June 6, 2021.

CBI Logo

Thomas Lehrman Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/22/2021

Series D

G2

$157M

No

Accel, Auren Hoffman, Emergence Capital Partners, HubSpot Ventures, Hyde Park Venture Partners, Institutional Venture Partners, Permira, and Salesforce Ventures

3

4/8/2021

Seed VC

Abacum

$7M

Yes

Creandum, Jenny Bloom, Justin Kan, K Fund, Maximilian Tayenthal, Mike Asher, PROfounders Capital, and Y Combinator

2

10/23/2019

Series A

Literati

$12M

Yes

#Angels, 01 Advisors, Allan Hubbard, Brent Montgomery, Founders Fund, Jimmy Kimmel, Kevin Hartz, Shasta Ventures, Silverton Partners, and Springdale Ventures

7

9/19/2019

Angel

Subscribe to see more

$99M

Subscribe to see more

10

7/28/2017

Series B

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/22/2021

4/8/2021

10/23/2019

9/19/2019

7/28/2017

Round

Series D

Seed VC

Series A

Angel

Series B

Company

G2

Abacum

Literati

Subscribe to see more

Subscribe to see more

Amount

$157M

$7M

$12M

$99M

$99M

New?

No

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Accel, Auren Hoffman, Emergence Capital Partners, HubSpot Ventures, Hyde Park Venture Partners, Institutional Venture Partners, Permira, and Salesforce Ventures

Creandum, Jenny Bloom, Justin Kan, K Fund, Maximilian Tayenthal, Mike Asher, PROfounders Capital, and Y Combinator

#Angels, 01 Advisors, Allan Hubbard, Brent Montgomery, Founders Fund, Jimmy Kimmel, Kevin Hartz, Shasta Ventures, Silverton Partners, and Springdale Ventures

Sources

3

2

7

10

10

Thomas Lehrman Portfolio Exits

11 Portfolio Exits

Thomas Lehrman has 11 portfolio exits. Their latest portfolio exit was KidPass on August 06, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/6/2021

Acquired

1

1/14/2021

Acq - Fin

2

11/9/2020

Acquired

2

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

10

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

10

Date

8/6/2021

1/14/2021

11/9/2020

00/00/0000

00/00/0000

Exit

Acquired

Acq - Fin

Acquired

Subscribe to see more

Subscribe to see more

Companies

Subscribe to see more

Subscribe to see more

Valuation

Acquirer

Subscribe to see more

Subscribe to see more

Sources

1

2

2

10

10

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.