17 hours ago
Exclusive: Abacum lands $60M to bring AI to business planning
Abacum, business financial planning startup, landed a $60 million Series B round led by Scale Venture Partners, co-founder and CEO Julio Martínez tells Axios Pro.
Why it matters: Businesses are under pressure to forecast accurately — and AI-driven planning tools are increasingly seen as critical.
State of play: The business planning software market is enormous, with financial software startups alone having raised nearly $41 billion just last year, per PitchBook.
How it works: The New York-based Abacum uses AI and machine learning to help finance teams predict and forecast more accurately, collecting financial and operational data in real-time to help find actionable insights.
Abacum also uses agentic AI to help customers anticipate needs and suggest business actions.
By the numbers: The company has tripled revenue year to year while keeping headcount flat, Martínez says.
OneStream, with a market cap of $6.8 billion, and Anaplan, taken private for $10.4 billion in 2022, illustrate the size of the business planning software market.
Zoom in: Cathay Innovation, Y Combinator, Creandum, Kfund and Atomico also participated in the Abacum's Series B.
The round took less than two weeks to raise, Martínez says, adding that the company has raised approximately $100 million to date.
What they're saying:"There is more uncertainty at seemingly every level of companies," Martínez says. "It's more crucial than ever to have accurate business forecasting and predicting."
