Centage Corporation, the leading provider of cloud-based budgeting, forecasting, analytics and reporting solutions, announced it has raised a Series C funding round of $8.5 million. The funding was led by TVC Capital with participation from institutional investors and investors from prior funding rounds.
Centage has experienced significant growth in the last several years, including a record year of revenue growth in 2018. The success is due to sales of Centage’s Cloud SaaS offering, which provides business leaders with an advanced planning, forecasting and budgeting solution that includes sophisticated analytics tools and built-in business and financial logic. Recognized as a leader in the FP&A product space, the cloud-based solution alleviates the need for IT-overhead and infrastructure while offering financial planning tools typically only available to the largest enterprises.
“Centage has continued to impress us with its leading-edge technology development and dedication to its customers,” said Jeb Spencer, co-founder and managing partner at TVC Capital and Chairman of the Centage Board of Directors. “Financial teams have a greater need for sophisticated and flexible software that allows them to address the needs of their organization in a fast-paced, agile business world.”
“Centage is helping CFOs, controllers, and FP&A teams adopt the next generation in planning, budgeting, forecasting, and analytics technology, empowering them to become strategic change agents for their businesses,” said John Murdock, Centage’s CEO. “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.”