Total amount raised
$24 Million
Latest funding date
03/01/2022
Location
Causal has successfully raised funding over four rounds, with the latest being a Series A led by Accel and Coatue. The platform focuses on visualizing data and financial modeling, attracting a diverse group of 21 investors.
Keep reading to explore the intricacies of Causal's fundraising journey and the investors backing this innovative platform.
What Is Causal?
Causal is a business planning platform that specializes in visualizing data and financial modeling. The company operates in various industries, including accounting, data visualization, fintech, internet, and software.
Based in London, England, Causal has a workforce of 11-50 employees. The company has been acquired by Lucanet and has raised funding through multiple rounds, with the latest being a Series A round.
How Much Funding Has Causal Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of the platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin market penetration.
- Seed Round
- Amount Raised: USD 4,200,000
- Date: April 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early growth, resulting in a 30% month-on-month increase in the customer base.
- Series A Round
- Amount Raised: USD 19,800,000
- Date: March 2022
- Lead Investors: Accel, Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the workforce from 12 to 50 employees globally and further develop the platform.
Total Amount Raised: USD 24,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Accel
- Details: Accel is a venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of growth. The firm has a long history of investing in companies that have become category-defining enterprises.
- Investment Focus Areas: Software, Internet, FinTech
- Notable Investments: Facebook, Dropbox, Slack
- Coatue
- Details: Coatue is a global investment firm focused on public and private companies in the technology, media, and telecommunications sectors. The firm leverages a deep understanding of technology trends to make informed investment decisions.
- Investment Focus Areas: Technology, Media, Telecommunications
- Notable Investments: Snap Inc., ByteDance, DoorDash
- Naval Ravikant
- Details: Naval Ravikant is an angel investor and entrepreneur, known for co-founding AngelList. He has invested in over 100 companies, including several successful startups.
- Investment Focus Areas: Technology, Internet, Startups
- Notable Investments: Twitter, Uber, Yammer
- Scott Belsky
- Details: Scott Belsky is the Chief Product Officer at Adobe and a venture partner at Benchmark. He is also the founder of Behance, a platform for creative professionals.
- Investment Focus Areas: Design, Technology, Creative Tools
- Notable Investments: Pinterest, Periscope, Sweetgreen
- Jeremy Stoppelman
- Details: Jeremy Stoppelman is the co-founder and CEO of Yelp, a platform for user reviews and recommendations of local businesses. He has been involved in the tech industry for over two decades.
- Investment Focus Areas: Technology, Consumer Services, Internet
- Notable Investments: Yelp, Palantir, Airbnb
What's Next for Causal?
As Causal continues to modernize spreadsheets, the company is poised to capitalize on the growing demand for user-friendly, integrated data tools. With its innovative approach to financial modeling and seamless integration with platforms like Stripe and QuickBooks, Causal is well-positioned to expand its market reach and customer base.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors and the successful £15 million funding round. This financial support will likely enable Causal to scale its operations and enhance its product offerings, further solidifying its position in the market.
However, challenges remain. Competing with established tools like Microsoft Excel and ensuring smooth integration with various business platforms will be critical. Maintaining rapid growth while scaling operations effectively will also be essential for Causal's continued success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Causal and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
