Abacum, a New York-based startup offering AI-powered financial planning software for businesses, has secured US$60 million in a Series B funding round led by Scale Venture Partners.

The company, co-founded and led by CEO Julio Martínez, develops tools to support finance teams in forecasting and planning through the use of artificial intelligence and machine learning.

The funding round also saw participation from Cathay Innovation, Y Combinator, Creandum, Kfund, and Atomico.

According to Martínez, the round was closed in less than two weeks, bringing Abacum’s total funding to approximately US$100 million to date.

Abacum’s platform enables finance teams to collect and analyse financial and operational data in real time.

By integrating AI and agentic AI capabilities, the software supports users in identifying actionable insights and anticipating future business needs.

“There is more uncertainty at seemingly every level of companies,”

said Martínez.

“It’s more crucial than ever to have accurate business forecasting and predicting.”

The demand for financial planning tools has grown in response to increased pressure on businesses to forecast with precision.

Financial software startups raised nearly US$41 billion last year alone, according to PitchBook.

Companies such as OneStream, with a market capitalisation of US$6.8 billion, and Anaplan, which was taken private in 2022 for US$10.4 billion, reflect the scale of the business planning software sector.

Abacum reports that it has tripled its revenue year-on-year while maintaining a flat headcount, underlining the company’s emphasis on operational efficiency alongside growth.

Featured image credit: Edited by Fintech News America, based on image by Freepik