Ramp Growth secures £4m in seed funding to transform company forecasting
Ramp Growth, the forecasting analytics start-up, has closed a £4m seed round led by Albion Capital and Eurazeo.
Ramp Growth solves the issue of poor revenue forecasting for businesses that is mostly done using spreadsheets, which are no longer fit for purpose. They’re inaccurate, time-consuming and too open to ‘subjective’ interference from different areas of the business. Ramp’s technology enables finance teams to run scenarios and forecasts in minutes – versus weeks or months – and helps predict customer behaviour and future revenue with speed, accuracy and deep context, to avoid wasted marketing spend and missed targets.
Ramp’s platform utilises cohort-based forecasting, a technique used to extrapolate the behaviour of different groups of customers for a product or service. This enables businesses to directly compare their revenue forecasts with reality alongside data-driven, intelligent insights backed by the Ramp Growth team’s legacy in the business.
Since inception, Ramp Growth has acquired a reputable portfolio of gaming clients. The company is now selectively rolling out the SaaS platform to a number of other high-growth sectors and will use the funds to support this effort.
Angus Lovitt, Chief Strategy Officer and co-founder at Ramp Growth says:
Our platform dramatically increases the accuracy of revenue forecasting in a fraction of time it would take in spreadsheets. Yet what really excites me about the platform are the strategic decisions we empower businesses to make. Our platform has given some businesses the confidence to invest in growth through marketing, while others are using valuable insights to support cutting costs or reducing services. The insight we deliver can be game-changing.
Paul Lehair, Investment Director at Albion Capital, comments:
We are very excited to support Ramp in this next phase of growth, by co-leading their seed round. As an ex-CFO of a B2C startup, I was blown away by Ramp’s unique approach to solving the business-critical problem that is forecasting. We are thrilled to back the team and their ambition to create a new category leader in this space.