San Diego-based Mosaic, a fintech analytics and planning software startup, has raised a $18.5M Series A financing round.
The round was led by General Catalyst with participation from Felicis Ventures, Village Global and XYZ Ventures. The company previously raised a $2.5 million seed investment, bringing its total amount raised to $21 million.
Mosaic will use the new funding to accelerate its product development and grow its team across multiple departments, said Bijan Moallemi, co-founder and chief executive officer at Mosaic.
Founded in 2019, Mosaic aims to transform the way businesses approach planning and performance management.
Helping Financial Executives
A strategic finance platform, Mosaic’s software is designed to ingest data such as ERPs, HRISs, CRMs and then provide chief financial officers and their teams with strategic planning tools to be able to predict and forecast with better accuracy and with speed.
In particular, its technology combines artificial intelligence and machine understanding to help future forecast versions, enabling people to focus on their job’s strategic elements.
Additionally, the startup’s software can create a “real-time, predictive forecast” to help business owners plan for the future. Mosaic also consolidates data and empowers teams with insights that help them make better decisions.
Its platform works by integrating with and updates financial data across the tools CFOs are already using, said Moallemi.
“In today’s fast-paced world, a delayed view of what happened ‘last month’ is no longer acceptable. We founded Mosaic to provide CFOs and their teams with tools that quickly and efficiently interpret data and allow for more informed decision-making,” he added.
Experienced Leadership Team
Mosaic enables companies of all sizes to strategically run their business. A number of the fastest-growing companies are utilizing Mosaic’s software, to help them better align, collaborate and plan for the future.
The executive leadership team at Mosaic include Moallemi, Brian Campbell, and Joe Garafalo, who served closely at Palantir (NYSE: PLTR) on the company’s finance team for more than 15 years.
While there, they saw the enterprise grow from a small organization into a global organization with thousands of employees, over one hundred customers, and incoming revenue of more than a dozen countries.