Insider Brief
- Aleph, a comprehensive data platform for finance teams, has secured $16.7 million in funding, emerging from stealth mode to enhance financial reporting with AI and collaboration features for non-finance stakeholders.
- The platform centralizes financial data from various sources, providing teams with spreadsheet add-ins, AI-assisted dashboards, and real-time web apps for collaborative planning, aiming to resolve the issue of data inaccessibility in modern businesses.
- Supported by notable brands like Turo, Zapier, Envoy, and Notion, Aleph offers a user-friendly interface, requiring minimal training, and aims to significantly boost finance teams’
PRESS RELEASE — NEW YORK/October 24, 2023— (BUSINESS WIRE) — Today Aleph, the source of truth for finance teams, emerged from stealth with $16.7 million in financing. The funding round was led by Bain Capital Ventures (BCV) with participation from existing investors Khosla Ventures, Picus Capital and Y Combinator, and including angel investors and current customers. Aleph serves as the one repository for all financial data, helping teams make better decisions, faster. With this funding, Aleph will continue its mission to become the comprehensive data platform for finance teams by unlocking the power of AI for accuracy and speed of financial reporting, and by introducing collaboration features for non-finance stakeholders.
As cloud-based software has become the norm for most functions in a modern business, data silos are a growing problem that only seem to be getting worse. Every company wants to be “data-driven” but this is nearly impossible when data is inaccessible. Existing finance solutions try to solve that, but primarily seek to bring teams out of familiar systems and learn a new syntax, enforcing rigid models that don’t work for many business types.
Aleph allows finance and operations teams to integrate all of their sources of data (ERP, HRIS, CRM, etc.) into a central database in a matter of minutes. Once data is centralized, the cornerstone of Aleph’s interface is its spreadsheet add-ins, meeting finance individuals where they want to be while providing a seamless interaction with data. Aleph then complements this with AI-assisted dashboards and a real-time web app for collaborative planning, making it easy to work with other teams.
“Most finance teams love the flexibility of excel, and greatly dislike most FP&A software. Having been a CFO, and also an engineer, Albert understands this deeply and is building a unique product that resonates with how those finance teams want to do their work,” said Christina Melas-Kyriazi, Partner at BCV. “Aleph is really easy to implement, and customers have that ‘aha’ moment quickly. We were so impressed by the customer love, early traction, and Albert’s vision for the product.”
Aleph has found early success with several well known brands like Turo, Zapier, Envoy and Notion. With an onboarding process that takes less than an hour and interface that requires little to no training, companies are using Aleph for tasks like month-end reporting, investor communications, and variance analysis.
“The ultimate way to help finance professionals is to give them the best of both worlds — the flexibility and familiarity of Excel with the centralization, power, and scale of a web app,” says Albert Gozzi, CEO and co-founder of Aleph. “We’ll keep listening to our customers and build exactly what finance teams need to double or triple their output without hiring.”
Aleph was founded in 2020 by Gozzi, who built the MVP in his home in the depths of the pandemic. He was joined by co-founder Santiago Perez De Rosso (Ph.D. at MIT, DocuSign) in 2021 and the team was accepted into Y Combinator to build Aleph.
The fully remote team is hiring individuals who are passionate about building. For information on open roles go to https://www.getaleph.com/careers.
About Aleph
Aleph helps top finance teams work with their data in real time. Businesses can automate financial models and streamline budgeting and forecasting with the fastest-to-implement FP&A platform. Aleph eliminates the need to export data from multiple sources by syncing spreadsheet models with data from 150+ integrations, and allows teams to interact with their data in no-code dashboards. Learn more at https://www.getaleph.com/.
Contacts
Angela D’Arcy
Bain Capital Ventures
adarcy@baincapital.com
