202106 Apr
OneStream raises $200M, now valued at $6B after its enterprise-focused financial software sees a surge of use –
Type
Funding Rounds
Companies
Funding
202106 Apr
$200MSeries B
Source
Techcrunch
Summary

In the latest development, OneStream, a startup that provides a toolkit of services to enterprises to help them run financial operations (for example, reporting, planning, tax and more), has raised $200 million in primary equity. “We remain sharply focused on delivering innovative planning, reporting and analysis solutions designed to help our customers succeed for today’s fast-paced and increasingly complex business environment,” said Tom Shea, CEO of OneStream Software, in a statement. However, there is no specific timeline.” The growth in valuation, meanwhile, reflects the surge of business that OneStream has seen in the last two years, and in particular in the last 12 months, as companies have been compelled to update their systems to work more efficiently and flexibly amid the COVID-19 pandemic and the impact it has had around in-person interactions. The impact of the pandemic should not be underestimated in this trend, and it was one that OneStream was able to nail because its software can be used across disparate teams and can draw a direct line to helping companies manage their finances better. “As a result, we have seen increased demand from companies who were using spreadsheets or legacy CPM applications to manage their financial close, consolidation, reporting, planning and forecasting processes… They are better able to keep their finance teams connected and collaborating while physically dispersed.

Classifications
  • Accounting and Taxes
  • Financial Reporting
  • ERP & Process Management
  • ERP
  • Business Process Management