Abacum, a SaaS maker geared toward upgrading mid-sized companies’ financial planning and analysis tools, has fast-followed the April) with a \)"> 25M Series A round. The latest funding brings its total raised to date to Typeform, Cabify and Ebury among its sign-ups, for example, and while Abacum’s business is based in New York its co-founders are Spanish, and it has an office in Barcelona, so has evidently been leveraging links to the local ecosystem to drive uptake).
Asked about its growth rate this year, Martínez said: “We’ve multiplied 15x our ARR in the last year, and our ARR per client continues to expand as the value they find in the Abacum platform continues to grow.”
“Today, the majority of our customer base is split between North America and Europe. Regarding industries, we’re focused on fast-scaling tech companies. Fintech and SaaS are the most prominent sub-industries we deal with but there is no shortage of Mobility and Martech companies either,” he added.
Per Martínez, Abacum will use the Series A funding — primarily — for product development and growth.
“Our goal in the next months is to continue building more value for our customers in the Abacum platform with more functionality. On the commercial side, we are also growing our offices in the US and LatAm to serve our customers better in those markets,” he said.
Commenting in a supporting statement, Atomico principal Terese Hougaard added: “Modern finance teams are increasingly called upon as the central source of truth in a company, providing all other teams with the input they need to make key strategic decisions. The uncertainties presented by the pandemic have exacerbated this, with finance teams needing to accurately forecast and scenario plan faster than ever before. Abacum provides the platform strategic finance teams need to do exactly this: Aggregate and combine existing sources of business data, forecast, plan and — crucially — collaborate with all other teams in a company.”