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Behind the Term Sheet: Abacum’s $60M Series B
- Abacum's $60 million Series B aims to solve the pain of financial planning and analysis (FP&A) faced by many companies, especially those in the mid-market segment still using Excel and Google Sheets.
- Abacum is part of the third wave of FP&A software, offering native integrations, an intuitive UX, and collaborative features tailored for modern finance teams.
- The platform enables companies to centralize financial data, create budgets and forecasts, and collaborate efficiently.
- Abacum stands out for connecting various financial and operative data sources into a single system, enhancing decision-making and potential expansion into other financial areas.
- The AI-heavy architecture of Abacum supports automated variance analysis, forecast updates, and AI-generated scenarios, transforming the CFO's role into a proactive, insight-driven partner.
- Founded in 2020, Abacum by Julio Martínez and Jorge Lluch focuses on addressing the shortcomings in finance team operations, with a global presence and strong customer base.
- Abacum has demonstrated product-market fit, an ideal customer profile, and potential for global scalability.
- As investors, Cathay Innovation sees Abacum as a significant player in revolutionizing the CFO software stack by offering product-first solutions to growing companies.
- Abacum represents the next generation of B2B SaaS champions, tailored to the evolving needs and challenges faced by finance teams in companies of all sizes.
- Cathay Innovation is excited to partner with Abacum and looks forward to the future prospects unlocked by their innovative approach to financial planning software.
- The article discusses how Abacum's Series B funding and innovative solutions position it as a key player in transforming financial planning and analysis tools for modern finance teams.
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