Strategic Finance Platform Mosaic Lands $25M Series B
Mosaic, the first Strategic Finance Platform, today announced it has raised $25 million in Series B financing.
This brings its total funding to $46 million in under 14 months. The round was led by Founders Fund, with participation from existing investors General Catalyst, XYZ Venture Capital, Fifth Down Capital, and Friends & Family Capital. The deal reunites Peter Thiel, Managing Partner at Founders Fund and Co-founder of both Palantir Technologies and PayPal, with the team that helped build the finance department at Palantir. Funding will be used to further expand the company's product development and go to market teams as Mosaic continues to add greater depth and flexibility to its suite of financial products, transforming the way CFOs operate. This includes a new topline planning component that will debut later this year.
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In addition to funding, Mosaic demonstrated impressive momentum with triple-digit growth in its customer base since completing its Series A financing in early 2020. The company has done so by helping high-growth companies like Pipe, Kandji, Drata, Fivetran, Sourcegraph, and Crossbeam meet the challenges of rapid scale by delivering real-time analytics and dynamic planning features that help their finance teams collaborate with department heads, enabling current and future unicorns to unlock profit drivers and grow faster than ever before.
At a time when hyper growth companies are scaling faster than ever, Mosaic is driving a vision of strategic finance where companies don't have to rely on manual financial analysis and planning in spreadsheets that can’t keep pace with business needs. In fact, over the past 12 months alone, more than $500 million in venture capital has poured into the sector to help business leaders gain control over their growth trajectory. And with remote job postings increasing nearly 300% between 2019 and 2021, it's been harder than ever to keep departments aligned and generate a complete, up-to-date view of the business.
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