Abacum

New York-based startup Abacum was founded to help FP&A teams (financial planning and analysis) collaborate and make informed decisions with confidence, better and faster through automation, collaboration and analysis. According to Julio Martinez, co-founder and chief executive officer of the company, it has more than 50 clients, mainly middle-sized businesses and fast-growing startups (by December 2021).

History

2021: Raising $25 million

On November 30, 2021 startup , Abacum announced the raising of $25 million in Series A round. Thanks to this funding, the total amount raised by the company reached $32 million.

The investment deal was led by Atomico with the participation of the leader of the previous round of Creandum, FJ Labs, as well as the Russian S16VC fund Anatoly Maryin, Alexander Shamis, Mikhail Peregudov and Oleg Bibergan.

Russians invested in the American platform for financial planning in a round of $25 million

In addition to other undisclosed existing investors, additional funding was also provided by business angels, including Adyen CFO Ingo Whitdehaage, Infarm CFO Carmine Visconti, JobandTalent co-founders Felipe Navio and Juan Urdiales and Blockfi founder Zuk Prins.

As part of the investment, Atomico director Teresa Hugard will join the board.

Martinez said Abacum will use the money raised in the latest investment round to expand its sales and marketing departments, and to continue building up its engineering and manufacturing staff. According to him, the company employs about 75 people, mainly in Europe, although some employees are in New York. The company was also accepted into the 2021 winter cohort at Y Combinator, a startup accelerator program in San Francisco.

Our goal in the next months is to continue to create great value for our customers in the Abacum platform with greater functionality. In terms of business, we are also expanding our offices in the US and Latin America to better serve our customers in these markets, he said.

{{quote 'Modern financial teams are increasingly being used as a central source of truth in the company, providing all other teams with the information they need to make key strategic decisions, "Hugard said in a statement. - Abacum provides the platform that strategic finance teams need to do just that: aggregate and combine existing business data sources, forecast, plan and, most importantly, collaborate with all other teams in the company. ^[1]

Notes