Madrona leads $4.9M round for Stratify, a new fintech startup that aims to automate budgeting
Summary
It allows for collaboration across various departments and enables a real-time “continuous planning model.” Machine learning is used to identify performance gaps and create revised forecast scenarios. The idea is to help finance professionals save time on manual and administrative tasks, freeing them up to dig into the numbers and identify key trends. Stratify natively integrates with a customers’ core systems of record and can automatically create reports and calculate KPIs based on the financial and operational performance of the business, Camposano said. “The process of creating, measuring and updating a budget should be continuous, not the current system of heads down work that is often based on complex and breakable spreadsheets.” Stratify has five employees, including Brian Torrey, a former Adaptive Insights exec, and Venky Krishnan, who was previously at Apptio and Microsoft. He said the current situation has “highlighted the importance of a tool like Stratify.” “In particular, the ability to quickly and automatically create new forecast scenarios that reflect changing business dynamics, and our collaboration capabilities that allow distributed management teams to access consistent data sets quickly and easily to ensure all stakeholders are operating with the same understanding of the state of the business,” he said.