A start-up aiming to听鈥榤odernise the spreadsheet鈥� has raised 拢3 million听蝉别别诲听funding.听
London-based听Causal听was founded in 2019 by Taimur Abdaal and Lukas听Koebis听with听the vision of replacing Excel as the de-facto way to work with numbers on a computer.听听
The听seed round, led by Accel, with participation from existing investors Coatue, Passion Capital, Verissimo Ventures, Naval Ravikant, Varadh Jain and others, will be used to take the product to market.听
Causal says its spreadsheet formulas read like plain English 鈥撎�e.g.听“Profit = Revenue – Costs”听鈥�听it typically takes 100x fewer formulas in Causal to build听exactly the same听model in Excel.听
Once team members have set up their model and connected their data through integrations听with the likes of听Stripe, QuickBooks听and听Salesforce, charts and reports can be generated in one click.听听
When users are done, Causal lets them share their model in an interactive dashboard where teams can collaborate听in order to听better understand the models themselves.听听
“老九品茶 planning and forecasting should involve every team in a company, but the complexity of spreadsheets means that it鈥檚 often siloed within finance,鈥� said Taimur Abdaal, CEO and co-founder at Causal.听听
鈥淲e want to democratise this process with a truly horizontal product that every knowledge worker can use, and we鈥檙e excited to have Accel join us on the next phase of our journey.鈥�听
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Seth听Pierrepont, Partner at Accel, said:听鈥淢any of us have felt the pain that comes with building and managing large spreadsheets across teams and data sources first–hand.听听
鈥淭aimur and Lukas are talented, product-focused founders who have taken the intuitive Excel-like interface that we鈥檙e all familiar with, and supercharged it with data integrations, collaboration features, and high-quality visualisations.听听
鈥�Beyond that, they鈥檝e leveraged their data science and mathematics backgrounds to offer sophisticated models out of the box, giving all users the ability to harness much more powerful predictive capabilities.听听
鈥�We鈥檙e very excited to back the Causal team on the next phase of their journey and bring spreadsheets into the modern era.鈥�听