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Functional Finance

San Francisco, CA · Founded 2021 · Privately Held (backing)

Developer of a financial software designed to increase the operational efficiency of the insurance industry. Functional Finance is based in San Francisco, CA and was founded in 2021. Its last known valuation is $80.2 million. It has raised $28 million across 2 recorded rounds; the latest was a $17 million early-stage round in May 2024.

Last price · $/share
—
Implied valuation
$80.2M
Total raised
$28.0M
Last round
Early Stage VC
May 2024

Functional Finance key facts

  • Developer of a financial software designed to increase the operational efficiency of the insurance industry.
  • Functional Finance’s last known valuation is $80.2M.
  • It has raised $28.0M across 2 recorded rounds; the latest was Early Stage VC ($17.0M) in May 2024.
  • Notable investors include New Enterprise Associates, AltaIR Capital, Munich Re Ventures, Summit Peak Investments, The Starr Foundation — 10 tracked in total.
  • Functional Finance has filed 2 Form Ds with the SEC since 2022, most recently May 2024 ($17.0M sold to 3 investors).
  • Status: Privately Held (backing).
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Functional Finance funding rounds

2 rounds
May 2024Early Stage VC$17.0MSEC filing▮
Jul 2022Seed Round$4.0MSEC filing▮
Full funding history →

Functional Finance valuation

Functional Finance's last known valuation is $80.2 million. The figure stands until a priced round, a secondary trade or an institutional fund mark prices the stock again.

How much has Functional Finance raised?

Functional Finance has raised $28 million in total; 2 of its rounds are on record. The largest on record was a $4 million seed round in Jul 2022; the most recent was a $17 million early-stage round in May 2024.

Functional Finance has filed 2 Form Ds with the SEC since 2022, most recently in May 2024 ($17 million sold to 3 investors).

Functional Finance investors

10 investors are on record for Functional Finance, including New Enterprise Associates, AltaIR Capital, Munich Re Ventures and Summit Peak Investments. The early-stage round in May 2024 drew 3 investors.

About Functional Finance

Developer of a financial software designed to increase the operational efficiency of the insurance industry. The company's platform offers tools for billing, invoicing, payment collection, statement generation, and real-time, automatic reconciliation on every invoice and policy, enabling insurance operators to unify and automate all financial operations and workflows and offer services without replacing their current infrastructure.

Sector
Information Technology
HQ
San Francisco, CA, United States
Founded
2021
Employees
37
Ownership
Privately Held (backing)

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Valuation on record
$80.2M

Functional Finance’s last known valuation. A PrivateMarketView mark is published once fund marks, secondary prints or a priced round let us confirm it.