Place Technology scores $3 Million to bring enterprise-class forecasting and planning to small and medium companies
Place Technology, a tech startup and makers of the Salesforce powered corporate performance management solution, PlaceCPM, has raised $3 million in funding to fuel its growth and initial product launch. The funding was led by Geekdom Fund and included Star Vista Capital and a select group of angel investors.
The Austin, Texas-based Place Technology was founded in late 2018 to address the multitude of hurdles small and medium businesses face when balancing growth and profitability with limitations of time, cash flow, and resources. The company was founded by CEO Brandon Metcalf, who previously founded and scaled Salesforce-powered Talent Rover (acquired by Bullhorn in March 2018), and CTO Kabe VanderBaan, the former VP Technology at Talent Rover.
PlaceCPM combines transactional-level financial and cash forecasting, budgeting, modeling, consolidations and core planning with advanced collaboration, workflows, reporting and visualization tools in one easy to use application natively built on the Salesforce Platform.
“Companies are faced with endless decisions that need to be made and accurate financial and cash forecasts are critical in making the right decisions. I know first-hand how difficult and time-consuming producing these can be and for years have been frustrated with the lack of technology that truly solves these challenges,” said Metcalf. “PlaceCPM addresses this need and is uniquely poised to fundamentally change forecasting and planning for growing companies.”
“The experience of the Place Technology team building and scaling Salesforce powered applications caught our attention right away. The depth and breadth of the product is impressive and speaks to the team’s first-hand experience with the pain that small and mid-sized companies face managing their financials and cash flow as they scale. We are excited to back such an experienced team tackling this large of a problem,” said Mike Troy, who is leading the investment for Geekdom Fund.