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Finance tech firm Datarails raises $70M, rolls out new AI agents
Yahoo Finance· 2026-01-21 15:19
Group 1: Market Overview - The "office of the CFO software market" is projected to grow from $71 billion in 2023 to $131 billion in 2028, indicating significant expansion opportunities [3]. - OneStream, a major player in this market, has agreed to be acquired by Hg for $6.4 billion, highlighting ongoing consolidation trends within the industry [3]. Group 2: Company Developments - Datarails raised $70 million in Series C funding, bringing its total funding to $175 million, aimed at geographic expansion and product portfolio enhancement [5][9]. - The company reported a 70% year-over-year revenue growth last year, with its workforce nearly doubling to over 400 employees [5]. Group 3: Product Innovations - Datarails is evolving its software tools from a focus on financial planning and analysis to a comprehensive finance platform, with over 50% of its growth in 2025 attributed to products launched in the past year [6]. - New products being introduced include AI finance agents for strategy, planning, and reporting, which assist finance professionals in generating board-ready materials [7]. - Upcoming releases include "AI in Excel" and "Spend Control," aimed at enhancing financial management capabilities [8].