This startup uses AI to help companies accurately predict future revenues. Check out the 17-slide pitch deck Ramp used to raise $5 million.
The startup's SaaS tool helps companies forecast customer revenue, and move away from spreadsheets.A startup that wants to make revenue predictions much more accurate using machine learning just raised $5 million in fresh funds.
The founding team saw that"finance teams lacked the tools and skills to forecast quickly and accurately," which had ramifications such as"missed targets, incorrect resource allocation, and wasted management time or millions wasted in inefficient marketing spend," said cofounder and CEO Dan Marcus. "We automate the cumbersome process of cohort-based forecasting which is a huge pain point in digital native business," he added. This technique takes the behaviour of different groups of customers for a product or service, and combines it with statistical models to generate accurate forecasts.
"We started in the middle of the UK summer and the downturn, so we definitely didn't do ourselves any favours," Marcus said.
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