Mosaic, a strategic finance platform, announced a $26m Series C funding round, led by Canadian venture capital firm OMERS Ventures.
Founded in 2019, Mosaic offers an analytics and planning platform that empowers finance and business leaders to expedite the journey from data to decision-making, enabling faster and more informed actions by teams.
Its Series C round also saw participation from existing investors, including Founders Fund, General Catalyst, and Friends and Family Capital. This latest investment will further empower Mosaic in its mission to provide real-time data analysis and collaborative financial planning for companies seeking to strike a balance between high growth and capital efficiency.
OMERS Ventures partner Eugene Lee said: “Companies that can raise a Series C in this environment need to showcase massive potential, which we saw in Mosaic. The company’s 3x top-line growth in 2022 was uncommon, not just in the finance software space but in SaaS at large.
“Now, we’re excited to see how Mosaic continues to innovate and bring its Strategic Finance Platform to finance leaders.”
With the rapid evolution of the business landscape, companies face the daunting task of managing growth while ensuring financial stability. Mosaic’s platform equips high-growth SMB and mid-market finance leaders with artificial intelligence (AI) driven capabilities, empowering them to strengthen their roles as strategic partners within their organisations.
Traditionally, finance teams have grappled with time-consuming manual tasks and complex implementations of legacy Financial Planning and Analysis (FP&A) solutions, which hindered their ability to focus on strategic initiatives.
Mosaic aims to revolutionise this landscape by leveraging AI-powered features and an open API to build a platform that transforms finance leaders into data masters and strategic partners, eliminating their reliance on Excel wizardry alone.
Mosaic’s platform offers real-time analytics and dynamic planning features, delivering speed and agility to finance teams. By simplifying data complexities, Mosaic ensures that any data becomes instantly actionable, driving organisational success. This focus on streamlining operations has garnered significant attention and recognition.
The proceeds from the Series C funding round are expected to propel the company’s expansion strategy, focused on providing predictive AI solutions that enhance the strategic significance of finance for customers such as Emerge, Sourcegraph, and Drata, as well as prospective SMB and mid-market clients.
Mosaic CFO and CEO Colin Anderson said: “Mosaic builds powerful and intuitive software products that can help unlock value for every finance team, CFO and CEO.
“As the former longtime CFO of Palantir, I worked side by side with the Mosaic founders to solve our most critical strategic finance workflows with powerful software. “This capital raise builds on Mosaic’s position of strength in the market and enables them to continue to develop great products for the tens of thousands of finance teams out there looking for a better way to win.”
