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Mosaic secures $26m Series C to accelerate growth

By Delisha Fernandes

June 12, 2023

  • AI
  • Analytics
  • Bank Data

MosaicMosaic, a Strategic Finance Platform for real-time data analysis and collaborative financial planning, announced a $26 million Series C funding round led by OMERS Ventures, with participation from existing investors, Founders Fund, General Catalyst, and Friends and Family Capital.

Mosaic’s core mission is to help companies meet the challenges of balancing high growth with capital efficiency. This latest round of funding will expand Mosaic’s investment in AI, empowering high-growth SMB and mid-market finance leaders with the power to strengthen their roles as strategic partners in their businesses.

“As Mosaic continues to rethink the CFO software stack, our strategic investment in AI serves to address the critical need for finance teams to provide faster, more strategic insights to their business partners across the organisation,” said Mahesh Guruswamy, head of engineering Mosaic.

Tedious manual tasks and the historically complex implementations of legacy FP&A solutions have prevented finance teams from focusing on more strategic tasks in the business. With AI-powered features and an open API, Mosaic is building a platform that transforms finance leaders into data masters and strategic partners — not just Excel wizards.

“One reason Bijan Moallemi, Brian Campbell, and I started Mosaic in 2019 was our shared experience of implementing an incumbent FP&A software while working in finance at Palantir,” said Joe Garafalo, co-founder and COO of Mosaic.

Garafalo added, “It took us over six months to put that platform in place, and ongoing maintenance was a nightmare. We can already get Mosaic customers up and running in four weeks. By bringing AI to our data workflows, we’ll significantly shorten that timeline and help users avoid the garbage in, garbage out a problem that kills value in this space.”

By delivering the market’s fastest time-to-value through real-time analytics and dynamic planning features designed to remove data complexities, Mosaic makes any data instantly actionable to drive organisational success.

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