Centage leaves no cent behind in $8.5m investment round
Centage Corporation, a US provider of cloud-based budgeting, forecasting, analytics and reporting solutions, has raised a Series C funding round of $8.5 million.
The round was led by TVC Capital with participation from institutional investors and investors from prior funding rounds.
“Centage is helping CFOs, controllers, and FP&A (financial planning and analysis) teams adopt the next generation in planning, budgeting, forecasting, and analytics technology, empowering them to become strategic change agents for their businesses,” says John Murdock, Centage’s CEO.
He adds: “With the new round of funding, we’ll continue to innovate in the FP&A market and invest further in product development, technology and support of the market and our customers, ultimately making the Maestro Suite the cornerstone of the modern office of finance.”
Centage says it has experienced significant growth in the last several years, including a record year of revenue growth in 2018.
This is due to sales of Centage’s cloud Software-as-a-Service (SaaS) offering, which provides business heads with a planning, forecasting and budgeting solution that includes analytics tools and built-in business and financial logic.
The firm says that the cloud-based solution alleviates the need for IT-overhead and infrastructure.
