Runway secures $27M to make financial planning more accessible and smart
San Francisco-based firm Runway has secured $27.5 million in series A funding, with Initialized Capital leading the investment round. This marked the most significant investment for Initialized Capital, following a $5 million seed round from Andreessen Horowitz earlier this year. Runway aims to revolutionize the way businesses utilize financial data.
Businesses can now easily create, manage, and share financial models and plans using Runway, a cloud-based platform. With over 100 data sources integrated, such as QuickBooks, NetSuite, Google Sheets, and AWS, financial forecasts can be updated and maintained automatically. Moreover, Runway employs artificial intelligence to provide insights, recommendations, and scenarios based on business goals and data.
Siqi Chen and Arya Asemanfar, who respectively worked at Zynga and Facebook, founded the company in 2020. Runway’s CEO, Chen, recently stated in an interview with VentureBeat that the company aims to make business success understandable to everyone.
At our company, we firmly believe that financial data and context should be accessible to everyone. However, financial planning is often done in complex spreadsheets that are difficult to understand, maintain, and share. Our goal is to create a user-friendly and intuitive product, making financial planning more accessible and intelligent. This will allow everyone access to the information they need to succeed.