Centage Corporation, an automated, budgeting, and planning software solutions provider for mid-market organizations, in a recent press release statement, on Thursday, Feb. 7th, 2019, announced raising $8.5 million in Series C funding round. TVC Capital, a growth equity firm focused on investments in and acquisitions of software companies and software-enabled service firms, based in San Diego, California, led the funding round, which was participated by institutional investors and prior Series A & B funding investors.
According to John Murdock, Centage’s CEO, the company with its extended support will enable CFOs, controllers, and FP&A (financial planning and analysis) teams to embrace the next gen planning, budgeting, forecasting, and analytics technology, in its attempt to make them business-centric strategic change agents.
Adding further, Murdock said that with this new Series C funding round, the company will continue its innovative efforts in the FP&A market and make further investments in the fields of product development, technology, and support of the market and our customers, to ascertain its portfolio of ultimately transforming the Maestro Suite into the cornerstone of the modern office of finance.
The company claims to have experienced significant growth in revenue these past years, which includes a record growth last year in 2018. The record growth is the result of the company’s cloud Software-as-a-Service (SaaS) offering, enabling business stakeholders with planning, budgeting, and forecasting solution that includes tools for analytics and built-in business and financial logic.