Datarails

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Datarails
IndustrySoftware
Founded2015
FoundersDidi Gurfinkel, Eyal Cohen, Oded Har-Tal
HeadquartersNew York
Websitedatarails.com

Datarails is a New York-based multinational software development company. It is an AI-powered financial planning and analysis (FP&A) platform for Microsoft Excel users.[1][2][3]

History

Datarails was founded in 2015 by Didi Gurfinkel (CEO), Eyal Cohen (COO) and Oded Har-Tal (CTO). It is based in New York, and has offices in Israel.[4][5][6]

On June 2021, the company had raised US$55 million in Series A funding from investors Zeev Ventures, Vertex Ventures, Innovation Endeavors, and Vintage Investment Partners. It completed its Series B in March 2022 and raised another $50 million from Qumra Capital, La Maison Partners, and Claltech.[7][8][9][10]

In December 2022 the Datarails laid off 18% of its team[11]. In the same announcement the Datarails reported their strongest month of sales.

Product and services

The software is one of many FP&A solutions[12]. It automates data consolidation and financial reporting and provides workflows, templates, and data visualization that facilitate budgeting, forecasting, scenario modeling and financial analysis.

References

  1. ^ "Datarails wants to revolutionize the CFO's office with automation". 10 March 2022.
  2. ^ "הסטארטאפ DataRails מגייס 200 עובדים". 11 April 2022.
  3. ^ "DataRails closes $50M in Series B, continuing Cloud-tech's progress". The Jerusalem Post | Jpost.com.
  4. ^ "How One Business Transforms Everyday Spreadsheets Into Sophisticated Financial-Planning Tools". MSN.
  5. ^ "Israeli financial planning co Datarails raises $50m". Globes. 3 October 2022.
  6. ^ "חברת הסטארטאפ DataRails מתרחבת עם מינוי ארבעה מנהלים בכירים". 21 October 2021.
  7. ^ "DataRails raises $50M to boost financial analytics and other tools for Excel spreadsheet acolytesexcel/". 10 March 2022.
  8. ^ "CFOs cling to spreadsheets despite their limits as FP&A tool".
  9. ^ "DataRails books $25M more to build better financial reporting tools for SMBs". 21 June 2021.
  10. ^ "DataRails doubles in value, raises an additional $25 million in Series A extension". 21 June 2021.
  11. ^ "DataRails lays off 18% of team". ctech. 2022-12-05. Retrieved 2024-07-07.
  12. ^ "Best FP&A Software for 2024".
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