German Jedox raises over $100M to develop vertical-specific solutions
Jedox, an international provider of Enterprise Performance Management software, has raised more than $100 million in a round led by global venture capital and private equity firm Insight Partners with participation from previous backers Iris Capital, eCAPITAL, and Wecken & Cie.
Jedox was founded in 2002 and headed by CEO Florian Winterstein, who joined the company in 2018. It provides enterprises with cloud-based tools for Financial Planning and Analysis through a Microsoft Excel-based interface. Jedox solutions help companies to optimize business processes across all stages of growth – from transitioning existing financial processes to the cloud to leveraging AI and advanced analytics for more accurate, agile planning.
The fresh funding will be used to increase investment in customer success and support. Currently, more than 2,500 businesses worldwide rely on the Jedox EPM platform including Amazon, McDonald’s, and ABB. Besides, Jedox is planning to focus on vertical-specific solutions to expand its scope beyond the finance department to become a cross-functional Extended Planning and Analytics platform.