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Functional Finance raised $20 million in a Series A funding round led by Walkabout Ventures to accelerate product development and strategic hiring.

Sep 19, 2024•about 1 year ago

Amount Raised

$20 Million

Round Type

series a

San FranciscoInformation Technology

Investors

Phil EdmundsonMunich Re VenturesWalkabout Ventures

Description

Functional Finance, a software platform revolutionizing financial operations, announced a $20 million Series A funding round led by Walkabout Ventures, with participation from Munich Re Ventures and Phil Edmundson. The funding will be used to accelerate product development and support strategic hiring.

Company Information

Company

Functional Finance

Location

548 MARKET STREET

San Francisco, California, United States

About

The Functional Finance platform enables insurance operators to manage their financial back office ranging from billing, premium finance, payables, and other money movement functionality.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech