SaaS Startup Drivetrain AI Raises $15 Million In Series A Funding
Drivetrain AI, a financial planning and monitoring platform for growing businesses and enterprises, has raised $15 million in a Series A funding round.
The funding round saw participation from Elevation Capital, Jungle Ventures, and Venture Highway. Besides, nearly 25 angel investors, founders, C-Suite executives at technology companies, and advisors contributed to the funding round.
As per the startup, the funds will be used to expand its go-to-market team and for product development.
The HNIs in the round include Khadim Batti and Amit Sharma (Co-founders of Whatfix), Akshay Kothari (Notion), Krish Subramanian and Karthik Srinivasan (Co-founders of Chargebee) and former Google executive Amit Singhal.
Drivetrain AI | Business Planning And Monitoring Software
Founded by Alok Goel (ex-Partner at Elevation Capital), Tarkeshwar Thakur (former VP of Engineering at Freshworks), and Saurav Bhagat (ex-VC of Investments at Elevation Capital) in 2021, Drivetrain AI is a business planning and monitoring software.
The cloud-based SaaS platform helps finance teams build integrated business plans, budgets, and forecasts and tracks the progress against targets.
Speaking about the development, Alok Goel, Co-founder and CEO of Drivetrain, said,
“Drivetrain helps build plans, informs you whether you’re on track, and simplifies course correction. Many leaders manage their business plans and multi-million-dollar budgets on spreadsheets that are cumbersome and error-prone.”
Drivetrain AI enables companies to plan collaboratively, identify bottlenecks and make confident decisions to achieve their targets.
The cloud-based SaaS platform can integrate data from over 200 commonly used business tools, including Quickbooks, Workday, Salesforce, Netsuite, and Looker, across CRM, ERP, and HRMS functions.
Speaking about the development, Deepak Gaur, Partner at Elevation Capital, said,
“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. Drivetrain enables these companies to consolidate their data and get insights in near real-time. This helps them focus more on forward-looking questions during board meetings.”
Drivetrain AI’s customers include virtual summits, meetups & workshops platform Airmeet, digital adoption platform Whatfix, sales readiness platform MindTickle, and delivery management platform FarEye.