DataRails, an NYC-based financial planning and analysis (FP&A) platform for Excel users, raised $50M in Series B funding.
Qumra Capital was the leader of the round. Existing investors Zeev Ventures. Vertex Ventures Israel. Innovation Endeavors. Joey Low. Vintage Investment Partners. Oryzn Capital. Icon Venture were all part of this round.
The company intends to use the funds to further invest in R&D as well as in sales and marketing and to expand and support its customer base worldwide.
DataRails’ CEO and co-founder, Didi Gurfinkel leads the company. The platform automates data consolidation, reporting and planning while allowing finance teams to keep using their Excel spreadsheets. DataRails lets teams enjoy Excel with the benefits of a cloud-based, centralized database. This allows for real-time consolidations of disparate financial data and operational data from all over a company.
The solution is based on AI and Machine Learning capabilities and provides real-time financial consolidation as well as advanced data visualization through an intuitive implementation.