Stratify Receives $4.9 Million in Seed Funding Round

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Stratify Receives $4.9 Million in Seed Funding Round

By CFO Tech Outlook | Friday, August 28, 2020

Stratify drives the digital transformation of finance through a cloud-native, real-time, and collaborative approach to redefine budgeting processes.

FREMONT, CA: Stratify, a venture-backed start-up focused on bringing a collaborative and connected approach to strategic finance. Today, it announced it had closed a $4.9 million Series Seed investment to transform financial planning and analysis by tackling one of the essential elements of managing any company--the budgeting process. Madrona Venture Group led the investment round with participation from Coatue.

Founded by former Docker CFO, Brian Camposano, Stratify is ushering in a new era of finance tools by providing a real-time and collaborative budgeting and forecasting solution that enables companies to execute a continuous planning model. The Stratify platform provides a single view for critical stakeholders to align, plan, and monitor actual financial and operational performance relative to budget assumptions. The company helps finance organizations move to a more collaborative budgeting process by connecting operational data sources and the teams that drive company revenue and spend with a company’s budget and leveraging machine learning to identify performance gaps, quantify financial impacts, and create revised forecast scenarios. The result is a continuous budgeting process that engages key stakeholders across the business and enables organizations to adapt to real-time, real-world operational impacts such as the Covid-19 pandemic.

The CEO and Founder of Stratify, Brian Camposano, who spent many years in senior leadership roles at SAP, Concur, and Deutsche Bank before Docker, has said that budgeting is central to how any company manages its business; however, legacy budgeting solutions are not built to support real-time, collaborative dynamics. Businesses today have access to mountains of critical operational data that could have an immediate impact on revenue and profitability, but they are using old solutions that are outdated, expensive to implement, disconnected, and do not support collaborative engagement. As a result, finance teams waste time performing countless manual and administrative tasks and conducting analysis using stale data. Stratify has developed its solution alongside CFOs and their teams who want a budgeting solution that engages and aligns their leadership team in a budgeting process that’s fast, accurate, and actionable. That’s what Stratify is built to do.

Stratify was incubated at Madrona Venture Labs with their team of experienced founders and operators who have a strong history of partnering with founders, from day one, to build data-driven machine learning applications that solve critical business problems. Stratify is working with charter customers in the finance and technology industries and is actively hiring.

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