Leapfin, the industry’s leading Financial Data Management solution (FDM), announced that it has raised $12.2 million in Series A funding led by Crosslink Capital with participation from Work-Bench and Uncorrelated, bringing the total raised to $20 Million
Leapfin, the industry’s leading Financial Data Management solution (FDM), announced that it has raised $12.2 million in Series A funding led by Crosslink Capital with participation from Work-Bench and Uncorrelated, bringing the total raised to $20 Million. Crosslink Partner Phil Boyer will join Leapfin’s Board of Directors. Leapfin will use the new funding to expedite product development, as well as accelerate sales and marketing hires to meet market demand.
Leapfin is a Financial Data Management solution that provides Chief Financial Officers (CFO) confidence in their GAAP financials so they can trust their strategic decisions. Many of the world’s leading digital brands, including Canva, Reddit, SeatGeek, Flexport, and Vimeo rely on Leapfin for real-time revenue visibility.
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“Financial data is the most important data within the company, yet CFOs often have to rely on month-old stale financials to make critical business decisions,” said Raymond Lau, CEO and co-founder of Leapfin. “In today’s inflationary environment and looming recession, having access to real-time financial data that you can trust is more important than ever. Winners and losers will be separated by those who can act quickly vs. those who wait around analyzing Excel spreadsheets.”
Today, more than 88% of CFOs do not think their current technology is flexible and agile enough to support business strategy and business model changes over the next two years. Mainly, traditional ERP systems can no longer serve today’s digital world alone. ERPs are inflexible because their data models are fixed with specific workflows and data relationships; any variable outside of the norm creates tremendous instability and requires customization.
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Leapfin’s Financial Data Management solution augments ERPs and enables finance teams to consolidate financial data from siloed sources, maintain compliance with accounting rules and laws, and produce detailed financial data and reports in real-time.
“I was impressed that Leapfin did exactly what it claimed it would. It gives us so much more visibility over our GAAP numbers,” said Damien Singh, Chief Financial Officer at Canva.
Phil Boyer, Partner at Crosslink Capital, will join Leapfin’s Board of Directors. “Ray, Erik, and the Leapfin team are addressing a deep and profound need in the world of finance operations for CFOs,” said Boyer. “With the proliferation of data across the entire back office, the ability to carefully orchestrate these data into one single source of truth is more important than ever. Leapfin has built a powerful and elegant solution to this problem.”
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