Business financial modeling software provider Drivetrain AI has financed $15 million in a new funding round led by Elevation Capital, Jungle Ventures, and Venture Highway.
Akshay Kothari, an investor in Notion Software; Khadim Batty and Amit Sharma Chargebee of Whatfix SaaS Platform Krish Subramanian and Karthik Srinivasan of Revenue Management Company; Kushal Nahata from the FarEye delivery platform and Niranjan Sivan from the Freshworks software development company also partook in the round.
“Drivetrain is like Google Maps for business growth. It helps build plans, informs you whether you’re on track, and simplifies course correction. Many leaders manage their business plans and multimillion-dollar budgets on spreadsheets that are cumbersome and error-prone. Gauging your business health in real-time and applying course corrections is impossible on spreadsheets,” said Goel, co-founder, and CEO of Drivetrain.
Primary to founding Drivetrain AI, Goel was an associate at Elevation Capital. He also operated as CEO of Freecharge, a portable payment company.
The Drivetrain forum allows finance teams to create integrated plans, budgets, and forecasts, track progress toward goals, and identify bottlenecks in growth paths. The platform combines over 200 common business tools such as Salesforce, Netsuite, Quickbooks, Workday, and Looker. The platform also provides features such as real-time versus actual budget tracking, what-if scenario modeling, and root cause analysis.
“Today, finance teams spend up to four weeks every quarter tracking key business metrics and generating reports for their stakeholders. You can’t make decisions on such stale data,” said Deepak Gaur, Partner at Elevation Capital.
“We have struggled to put together Excel sheets for portfolio companies to predict revenue growth, structure the go-to-market plan, and understand levers that would affect revenue and margin growth. Spreadsheets and existing tools fail to do this in real-time,” said Priya Mohan, Partner at Venture Highway.
The drivetrain is presently targeting US customers and anticipates concentrating on the UK market over the following months.