Jedox raised $100 million in new venture capital funding, according to a press release on the company’s website. The round was led by Insight Partners with participation from existing investors Iris Capital, eCAPITAL, and Wecken & Cie. The funding will enable Jedox to expand its global footprint while enhancing its cloud-based financial planning and analysis platform for cross-departmental integrated business planning and reporting. Jedox will use the cash to scale its product innovation team, increase investment in customer success, and support clients across geographies.
Jedox provides a cloud-based platform for budgeting, planning, and analysis via a familiar Microsoft Excel-based interface. Jedox tools are also purpose-built for financial leaders. Public and private cloud offerings enable finance professionals to collaborate across all departments to simplify corporate planning by utilizing artificial intelligence and advanced analytics.
Jedox plans to launch a suite of vertical-specific solutions in 2021 by leveraging its partner ecosystem and strategic partnerships. The solution provider has plans to become a cross-functional Extended Planning and Analytics platform that has solutions for organizations in every domain. Jedox is currently experiencing an acceleration in global adoption of its cloud-based financial software. The company has more than 2,500 customers including Amazon and McDonald’s.
In a media statement about the news, Jedox CEO Florian Winterstein said “In an ever faster moving world, disruption and uncertainty represent both challenges and opportunities in enterprise. Jedox’s modern cloud-based tools for scenario planning, forecasting, and managing future value creation enable our customers to move even faster and outperform the competition. Insight Partners’ investment will further enhance our unique EPM platform and momentum in the marketplace, as well as allow us to benefit from the expertise of a leading global investment partner.”
Watch A Message from Jedox CEO Florian Winterstein on $100M investment on YouTube.