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Tidemark Adds Finance Playbooks And $32M In New Funding

TechCrunch TechCrunch 29/04/2014 Ron Miller

Tidemark, a business financial forecasting startup, had a busy today announcing a major upgrade to their product and another $32M in funding.

The product update, which CEO Christian Gheorghe described as a major upgrade, allows you to model the old board books, full of Excel spreadsheets. Instead of a static printed book or pdf, however, because you are in a digital format, you can drill down into any financial parameter and get increasing details.

What’s more, as you would expect in a digital version, you can view either the data in a spreadsheet-style grid or get a graphical view of the data. Gheorghe explained this lets people escape the Microsoft Office scenario, what he called “Excel Hell” where you have to copy and paste data to PowerPoints to make presentations. All of the data is available in an online book, ready to share and discuss.

Gheorghe said it updates financial board books to the 21st century by providing a way to view, share and comment on financial information in the cloud, and what’s more, it’s tuned to work on mobile devices –it’s even set up to understand Siri commands. He says the cloud provides not only the ability to scale to handle increasing amounts of information, it also provides an easy way to use the product across devices and share information easily with all the necessary parties involved in a project.

As Gheorghe explained, the update provides “a social fabric and a natural way of looking at things.”

Tidemark is delivering 85 pre-defined playbooks out of the box and companies can use these standard ones or they can adapt them or create their own as needed. When you look at the playbook design on screen, it looks like a business process management workflow, which has been designed for financial analysts and business people.

In addition to the product update, Tidemark also announced a new round of funding to the tune of $32M, bringing their total to date to $80M. Investors in this round include Silicon Valley Bank and existing funders Greylock Partners, Andreessen Horowitz, Redpoint Ventures, Tenaya Capital.

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