The funding will help DataRails invest in product development and enhance its sales and marketing efforts. Here are the top-line bullets you need to know.
DataRails, a financial planning and analytics (FP&A) software provider, has raised $50M in a Series B. The round drew participation from Qumra Capital, Vertex Ventures Israel, and Zeev Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Israel-based DataRails enables companies to collect, report, and analyze data from across organizational spreadsheets.
- DataRails experienced 5x revenue growth in 2021, and its annual recurring revenue is approaching $10M.
- The startup is supported by a team of 180 employees and maintains offices in Tel Aviv, New York, and Zurich.
Source: DataRails
WHY DOES THE MARKET MATTER?
- The global financial planning software market is expected to reach a value of $3.5B by 2028, growing at a CAGR of 14%, according to Reports and Data.
- Increasing demand for data analytics tools to guide enterprise-level decision-making has contributed to market growth.
