Business planning enters a new phase as Abacum secures $60 million in Series B funding, positioning itself as a frontrunner.

Abacum Secures $60m Series B Funding to Revolutionize Business Planning

Abacum, a leading business planning platform, has raised a $60m Series B round, led by Scale Venture Partners. This investment comes as the company continues to grow and transform the way finance teams operate.

Based in NYC, with offices in London and Barcelona, Abacum empowers finance teams to drive performance by combining simplicity with enterprise-grade flexibility. Over the past 12 months, the company has tripled its revenue and expanded its customer base across 31 countries. Over 50% of its revenue already stems from the U.S. market, with plans to continue fueling its rapid expansion in the region.

The funding will be used to deepen the value delivered to existing customers and accelerate support for more teams. Abacum's CEO, Flemming Wagner, stated that the raised funds will be instrumental in this mission.

Abacum's business planning platform now includes multi-agentic AI that anticipates business needs, proactively suggests actions, generates insights, and helps teams navigate complexity. This AI-enabled technology sets Abacum apart from its competitors, providing a truly innovative solution for mid-market companies.

Scale Venture Partners, a Bay Area-based venture capital firm, is a new investor in Abacum. They focus on the next generation of enterprise software companies building AI-enabled applications. Cathay Innovation, a global VC fund, is another long-term partner to Abacum, supporting the team in their global growth. The round also had strong participation from Y Combinator, Creandum, Kfund, and Atomico.

The investment will also unlock the next phase of Abacum's product innovation, doubling down on its development. Nico Serventi, Kajabi Director of Finance, stated that Abacum allowed them to save a week of time and have business review meetings within the first five days of the month. Richard Harem, RapidSOS Head of Finance, also highlighted the benefits, stating that thanks to Abacum, they reduced their headcount needs three-fold and accelerated their reporting cycle by 73%.

Abacum's end-to-end business planning platform brings financial and operational data into one place in real-time. Collaborative workflows in Abacum's platform put finance teams in the driver's seat, allowing them to share insights across their organization. The platform's powerful modeling engine for faster scenario planning in times of uncertainty further enhances its value.

Abacum's data layer is robust and flexible, acting as a single source of truth that seamlessly integrates with existing tech stacks. The company is used by hundreds of mid-market companies, including Strava, Aiven, JG Wentworth, and Mastercam.

Jacky Abitbol, Managing Partner of Cathay Innovation, praised Abacum for building one of the most advanced Vertical AI platforms, transforming the finance function into a strategic growth engine. Abacum's platform is designed to redefine how CFOs operate through data, automation, and intelligence.

As Abacum continues to grow and innovate, it is clear that it is at the forefront of the business planning revolution. The company's AI-enabled platform is set to change the way finance teams work, driving performance and empowering teams to navigate complexity with ease.

Business planning enters a new phase as Abacum secures $60 million in Series B funding, positioning itself as a frontrunner.