Drivetrain AI raises $15 million in fresh funding round
Financial modelling software provider for businesses Drivetrain AI has raised $15 million as part of a fresh funding round led by Elevation Capital, Jungle Ventures and Venture Highway. Over 25 startup founders, advisors and investors including the likes of Notion’s Akshay Kothari; Whatfix’s Khadim Batti and Amit Sharma; Chargebee’s Krish Subramanian and Karthik Srinivasan also participated in the funding round.
The company said that it would use the funds to accelerate product development and expand its go-to-market team. It said it was looking to improve headcount across engineering and product development in India, as well as hire for business development functions in the United States.
Founded in 2021 by Alok Goel, Tarkeshwar Thakur, and Saurav Bhagat, Drivetrain AI helps businesses gauge their current health and forecast the future impact of their actions, allowing them to make better decisions in real time.
The software platform also helps startups build integrated plans, budgets and forecasts, track their progress against targets, and identify bottlenecks to growth. Drivetrain AI integrates with over 200 business tools including the likes of Salesforce, Netsuite, Quickbooks, Workday, and Looker.
“Till now software platforms have provided a rear-view mirror of what has happened in the past. Drivetrain is a white-box model, which helps enterprises undertake complex financial modelling and look into the future,” Thakur, who is also its chief technology officer (CTO). “Usually, finance teams jumble future plans over several spreadsheets. Drivetrain’s software is made to help businesses build these plans on a singular platform and monitor it while incorporating necessary action.”
Companies use Drivetrain’s platform to model and forecast various aspects including sales and revenue, among other aspects of the business. “At present, companies are using our platform to model their topline, bottomline, annual revenue run rate. They are also using Drivetrain AI’s platform to understand their go-to-market (GTM) funnel to get insights on how their marketing and sales team should be behaving,” co-founder Goel said.
Prior to founding Drivetrain AI, Goel was partner with Elevation Capital. He has also served as the chief executive of mobile payments firm Freecharge. The startup also raised an undisclosed sum in seed funding last year, Goel added. Drivetrain is currently focussing on clients in the United States and is expected to focus on the UK market in the next six months.
Its clientele currently includes business-to-business (B2B) software startups, even as it looks to expand its platform across direct-to-consumer (D2C), logistics and internet-first brands.
The company said that it would use the funds to accelerate product development and expand its go-to-market team. It said it was looking to improve headcount across engineering and product development in India, as well as hire for business development functions in the United States.
Founded in 2021 by Alok Goel, Tarkeshwar Thakur, and Saurav Bhagat, Drivetrain AI helps businesses gauge their current health and forecast the future impact of their actions, allowing them to make better decisions in real time.
The software platform also helps startups build integrated plans, budgets and forecasts, track their progress against targets, and identify bottlenecks to growth. Drivetrain AI integrates with over 200 business tools including the likes of Salesforce, Netsuite, Quickbooks, Workday, and Looker.
“Till now software platforms have provided a rear-view mirror of what has happened in the past. Drivetrain is a white-box model, which helps enterprises undertake complex financial modelling and look into the future,” Thakur, who is also its chief technology officer (CTO). “Usually, finance teams jumble future plans over several spreadsheets. Drivetrain’s software is made to help businesses build these plans on a singular platform and monitor it while incorporating necessary action.”
Companies use Drivetrain’s platform to model and forecast various aspects including sales and revenue, among other aspects of the business. “At present, companies are using our platform to model their topline, bottomline, annual revenue run rate. They are also using Drivetrain AI’s platform to understand their go-to-market (GTM) funnel to get insights on how their marketing and sales team should be behaving,” co-founder Goel said.
Prior to founding Drivetrain AI, Goel was partner with Elevation Capital. He has also served as the chief executive of mobile payments firm Freecharge. The startup also raised an undisclosed sum in seed funding last year, Goel added. Drivetrain is currently focussing on clients in the United States and is expected to focus on the UK market in the next six months.
Its clientele currently includes business-to-business (B2B) software startups, even as it looks to expand its platform across direct-to-consumer (D2C), logistics and internet-first brands.
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