Mosaic is based in San Diego, CA. This company builds a strategic finance platform constructed to ingest data from many systems in the alphabet sequence of enterprise IT — ERPs, HRISs, CRMs, etc.
Mosaic was funded $18.5 million of Series A financing. General Catalyst led the funding, with participation from Felicis Ventures, Village Global, and XYZ Ventures.
This new round of funding will help Mosaic speed up realizing the strategic finance vision by growing their world-class team across engineering, sales, marketing, customer success, and more.
They found Mosaic in April 2019 by Bijan Moallemi, Brian Campbell, and Joe Garafalo, who served closely at Palantir in the company’s finance team for beyond 15 years accordingly. While there, they saw the enterprise grow from a small organization with a little over one hundred people with thousands of employees, over one hundred customers, as we saw last year with Palantir’s IPO and incoming revenue of more than a dozen countries.
After Palantir, they each led Finance for other high-growth venture-backed companies where they faced the same problems and once again created customized solutions to solve them.
It became increasingly clear to them that these issues were universal and that the CFO’s office was fundamentally broken. Previous FP&A software failures to keep pace with a growing constellation of disconnected cloud-based tools have left Finance leaders struggling to keep up. Tracking financial health was confusing, requiring extraordinary amounts of manual data entry and manipulation. The resulting information was often out of date by the time it got into decision-makers’ hands. In today’s fast-paced world, a slow view of what happened is no longer acceptable.
They tackled the problem head-on. There is no reason that Finance, the team tasked with managing, organizing, and making sense of data from across the business to inform its trajectory ultimately, should be forced to use technology from generations ago.
At Mosaic, they believe that getting a real-time understanding of your financial health and strategically planning for the future shouldn’t be confusing or require manual labor.
The program combines with updated financial factors across the tools CFOs are previously using it. It combines artificial intelligence and machine understanding to help future forecast versions, enabling people to focus on their job’s strategic elements.
It is more significant than ever for CFOs and business leaders to adapt and plan for the future with speed and precision during this extreme uncertainty. Mosaic is correctly positioning to provide this superpower for the business.
By: K. Tagura
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