The funding will help Causal increase headcount and enhance its sales capabilities. Here are the top-line bullets you need to know.
Causal, a spreadsheet software provider, has raised $20M in a Series A. The round drew participation from Accel and Coatue Management, among others.
HOW’S THE COMPANY PERFORMING?
- Delaware-based Causal enables organizations to build financial models, connect those models to accounting and CRM data, and share interactive dashboards.
- The platform currently caters to over 100 customers, including Duffel, Go Henry, Unmind, Branch, and Philips.
- The company also claims to have increased its customer base by 30% month-over-month in 2021.
- Causal is currently supported by a team of 15 people.
Source: Causal
WHY DOES THE MARKET MATTER?
- The global fintech market is expected to reach a value of $324B by 2026, growing at a CAGR of 25.18%, according to Market Data Forecast.
- The fintech market has seen a funding boom in recent years. In 2021, fintech startups raised $132B, accounting for 21% of all venture dollars.
- The global fintech adoption rate stands at 25%, signaling a growth opportunity for providers and first movers.
- Organizations have increasingly adopted financial modeling solutions amid pandemic-fueled disruption.
