US fintech Mosaic secures $26m Series C funding
San Diego-based fintech firm Mosaic has secured $26 million in a Series C funding round led by OMERS Ventures.
Mosaic secures $26m in Series C funding
Also taking part in the round were existing investors Founders Fund, General Catalyst, and Friends and Family Capital.
The Series C follows Mosaic’s $25 million Series B funding round held in April last year, and brings its total capital raised to date to $72 million.
Founded in 2019, Mosaic’s platform uses big data and machine learning to provide businesses with financial planning tools, including predictive reporting, real-time analytics, and recommendations to help them understand their cash burn, forecast spend scenarios and provide greater visibility over business.
With the new funding, Mosaic plans on developing its products and features further, particularly its planning and analysis products.
It also plans to make “significant” investments in artificial intelligence (AI) by rolling out AI-led features including automated insights and a “ChatGPT-like experience” to help understand forecasts versus actuals, explain trends in the company’s data and identify opportunities to improve performance.
