Sudozi, a financial software innovator, today announced new solutions to help finance teams automate workflows and improve spend decisions, as well as the close of a $4.3 million seed round led by Pear VC with participation from S3 Ventures and Mischief. Founded by the former CFO of Uber U.S. and Canada, Sudozi has also earned the financial backing of an impressive collection of founders and early executives at DoorDash, Eventbrite, Plaid, Robinhood, Stripe, and Uber, among others.
“Establishing a ground truth view of a scaling organization’s finances is an acute need. While other solutions merely create a dashboard debacle and neither automate workflows nor provide an opportunity for informed decision-making and collaboration, Sudozi makes real-time finance a reality,” said Mar Hershenson, Pear VC. “We’ve been searching for the future of bottoms-up strategic finance, and we think this is the right moment, right founder, and right solution to make an immediate impact. Solving the primary challenges of internal financial teams for rapidly growing organizations, Sudozi CEO Rose Punkunus has assembled a world-class tech team from Uber, Google and Carta, among other companies, and is on track to accelerate strategic finance.”
After initial successes in helping finance and accounting departments at high-growth companies such as Bigeye, EasyHealth, and Wheel transition from manual, tedious workflows into easy, data-driven processes using data-driven workflows, Sudozi refined its beta product and added crucial capabilities like real-time budget control.
“Before Sudozi, it felt like there were too many avenues for expenses to be approved; Slack, email, conversations, etc.,” Ryan Suneson is VP Finance at Ontic. “Sudozi has helped us get better spend visibility so we can easily track and manage contracts and vendors, make data-driven decisions, and even avoid costly auto-renew surprises. The platform has already saved us thousands of dollars.”
Sudozi Platform 2.0 closes the financial data gap so customers can create a centralized financial hub, collaborate, get real time answers and make informed budget decisions across departments. Sudozi now offers the following:
– Automated intake workflows to track vendor spend requests, streamline approvals, increase collaboration and empower budget owners
– Real-time budget comparisons and intelligence to track actual performance against the plan so teams can identify and avoid potential issues
– Automated department roles and permissions to securely share relevant details with department leaders and properly hide sensitive information
– Live integration with QuickBooks Online to help complete the financial picture
– A consolidated database and contract repository to track all vendors, SOWs, commitments and renewals to avoid wasted budget and surprise expenses
“Modern finance teams want to manage vendor procurement, headcount and budget tracking through one platform, but the data needed to do so is stuck in spreadsheets and disparate systems. Most companies don’t have the resources to build an internal system to connect all the dots and give their finance teams the visibility they need to support rapid business growth,” Rose Punkunus, founder and CEO of Sudozi noted,. “We want to make it easy for teams of all sizes to get the real-time financial intelligence they need.”
Sudozi will use its seed funding to help its hypergrowth. The company plans to increase its team, expand its solution offering, and expand its market reach. The company will continue to expand its capabilities over time. In the immediate, it will be focusing on building additional data integrations with financial tools such as Oracle NetSuite and Sage Intacct.