Centage Corporation, a Natick, MA-based provider of budgeting and forecasting software for small and medium sized businesses, secured $9.5m in Series A funding.
Backers included TVC Capital and Northgate Capital. In conjunction with the funding, Jeb Spencer of TVC Capital and Jared Stone of Northgate will join the company’s board of directors.
The company intends to use the funds to expand its product offering to include a cloud-based solution and increase marketing efforts both domestically and internationally.
Led by Barry Clapp, President and CEO, Centage provides Budget Maestro, an automated budgeting, planning, and forecasting solution designed for small to mid-market companies. It features financial and business logic that allow users to build and update their budgets and forecasts with no formulas, functions, links or custom programming. Budget Maestro also offers synchronized P&L, Balance Sheet, and Cash Flow reporting that generate automatically update.
The company currently serves more than 7,000 users worldwide.
FinSMEs
24/09/2014