How Much Did Datarails Raise? Funding & Key Investors

Datarails has successfully raised significant funding over multiple rounds, with its latest being a Series B. The platform specializes in financial planning and analysis for Excel users, integrating advanced automation and data consolidation features.

Continue reading to delve into the details of Datarails' funding journey and the investors who support this innovative financial solution.

What Is Datarails?

Datarails, founded in 2015, is a financial planning and analysis platform based in New York, New York. The company specializes in automating financial reporting and planning for Excel users, allowing finance teams to focus more on data analysis.

The platform was co-founded by Didi Gurfinkel, Eyal Cohen, and Oded Har-Tal. Their innovative approach integrates advanced automation with Excel, making financial processes more efficient and less time-consuming.

With a team of 101-250 employees, Datarails continues to grow, providing essential tools for finance professionals to streamline their workflows and enhance strategic decision-making.

How Much Funding Has Datarails Raised?

1. Seed Round
   • Amount Raised: $1M
   • Date: June 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of their financial planning and analysis platform.
2. Non-Equity Assistance
   • Date: March 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To receive strategic support and resources without diluting equity.
3. Series A
   • Amount Raised: $6M
   • Date: July 2017
   • Lead Investors: Vertex Ventures, Vertex Ventures Israel
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product development and market reach.
4. Series A
   • Amount Raised: $3M
   • Date: June 2018
   • Lead Investors: Innovation Endeavors
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further enhance the platform's capabilities and scale operations.
5. Pre-Seed Round
   • Date: November 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To prepare for a larger funding round and validate the product-market fit.
6. Series A
   • Amount Raised: $18.5M
   • Date: April 2021
   • Lead Investors: Zeev Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and expand the customer base.
7. Series A
   • Amount Raised: $25M
   • Date: June 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product features.
8. Series B
   • Amount Raised: $50M
   • Date: March 2022
   • Lead Investors: Qumra Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To invest in product development and enhance sales and marketing efforts.

Total Amount Raised: $103.5M. Current Valuation: Not publicly disclosed.

Key Investors

• Qumra Capital
  • Details: Qumra Capital is a growth capital fund based in Tel-Aviv, Israel. They focus on investing in late-stage technology companies.
  • Investment Focus Areas: Technology, growth-stage companies.
  • Notable Investments: Fiverr, Riskified, Taboola, JFrog.
• Zeev Ventures
  • Details: Zeev Ventures is a venture capital firm that focuses on early-stage technology companies. They have a strong track record of backing successful startups.
  • Investment Focus Areas: Early-stage technology companies.
  • Notable Investments: Houzz, TripActions, Tipalti.
• Innovation Endeavors
  • Details: Innovation Endeavors is a venture capital firm that invests in transformative technology companies. They aim to support startups that drive significant change.
  • Investment Focus Areas: Early-stage technology, transformative innovations.
  • Notable Investments: Uber, SoFi, Plenty.
• Vertex Ventures
  • Details: Vertex Ventures is a global network of funds that invests in early-stage technology companies. They have a strong presence in Israel and Southeast Asia.
  • Investment Focus Areas: Early-stage technology companies.
  • Notable Investments: Waze, CyberArk, SolarEdge.
• Vertex Ventures Israel
  • Details: Vertex Ventures Israel is part of the Vertex Ventures network, focusing on early-stage investments in Israeli technology companies. They have a history of successful exits.
  • Investment Focus Areas: Early-stage technology companies in Israel.
  • Notable Investments: Waze, CyberArk, SolarEdge.

What's Next for Datarails?

DataRails stands at the cusp of significant growth opportunities, driven by the expanding global financial planning software market, projected to reach $3.5 billion by 2028. Leveraging their recent $50 million Series B funding, the company aims to enhance product development, expand sales and marketing efforts, and introduce predictive modeling capabilities. This positions DataRails to capitalize on the increasing demand for advanced data analytics tools across various business departments, not just finance.

Future fundraising rounds seem likely as DataRails continues to grow, potentially attracting further investment to support its ambitious goal of becoming a billion-dollar entity. However, the company faces challenges such as intense competition from other FP&A software providers and the need to continuously innovate to keep pace with rapid technological advancements. Ensuring seamless integration with existing financial systems and maintaining product quality while scaling operations will be crucial for sustained success.

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