Martin Zych, the CEO and co-founder of Jirav, said older enterprise software is “usually clunky, difficult to use, and takes forever to implement. It sucks,” according to CPA Practice Advisor, which was why the company wanted to update the process.
The funding round has been backed by Information Venture Partners, along with additional support from Seven Peaks Ventures, NextWorld Capital and “many prominent angel investors with deep domain expertise in the areas of FinTech, financial planning and analysis, corporate performance management and world-class cloud accounting software,” CPA wrote.
Jirav aims to do away with older forms of manual spreadsheets — and the risk that comes with them — to replace with a cloud-based function to help teams work remotely through the coronavirus pandemic, which has necessitated such capabilities.
Zych said the new capital will boost Jirav’s capabilities for controllers, CFOs and VPs of finance, toward “improving the platform and tools I dreamt were available when I was leading finance and accounting at high growth companies,” he said, according to CPA Practice Advisor.
Leaders in finance have been utilizing Jirav's software to help with a plethora of new issues with finance forecasts, zero-based budgets and customized boards and spreadsheets that every shareholder can understand, which can offset the pandemic's shake-up of business habits and consumer buying trends.
Robert Antoniades, co-founder of Information Venture Partners, said the company was investing in Jirav because of the potential to help onboard customers in “weeks, not months,” according to his quote by CPA Practice Advisor.
Jirav also partnered with Aprio Cloud last year in order to bring a new standardization and streamlining of accountants' analytics and reporting services, including better tools to help visualize data.