Journey to Funding Success
Untapped seeks to help companies build diverse teams with confidence. Their mission is to remove barriers and create access to make recruiting simpler and more equitable for everyone – including their own team!
“At Untapped we celebrate and support our differences. We know employing a team rich in diverse thoughts, experiences, and opinions allows our employees, our product, and our community to flourish.”
While focusing on talent is their key priority, scaling to support larger more complex companies is also top of mind. To do so, Untapped had to hit the ground running with investors to tell their story of future growth.
Nailing their Growth Story for Additional Funding
In 2020, Untapped tripled its revenue, and headcount. As they scaled ARR, they knew they would come face to face with additional investment opportunities where a rigorous outline of their financial foundation and plans for growth would be tested.
Preparing for investor funding meetings is hard. It’s the round where rubber meets the road, where the promise and hope from Series A has to be met with numbers and projections that support milestones rooted in financial fundamentals. The process requires meticulous planning, multi-scenario analysis, and accurate business metrics that instill investor confidence.
The Untapped team needed a way to deliver their compelling growth narrative to investors. To succeed, they needed to run end-to-end financial planning quickly and accurately. This included building pro-forma financial statements, modeling complex scenarios around headcount, understanding the ROI on their sales and marketing spend, and the subsequent effect on CAC. They also needed a way to quickly package financial insights into fundraising materials to easily communicate their growth story.
“We needed a way to provide compelling growth projections quickly and efficiently. Mosaic provided an all-in-one finance platform to help us drive clear and confident financial plans for investors."
A Strategic, Collaborative Finance Platform
Instead of relying on the traditional labor intensive process of creating and building scenarios in disconnected spreadsheets, the team took a more forward-thinking approach.
They integrated Mosaic, a strategic finance platform designed to scale fast.
Within days, Mosaic connected the team with real-time financial insights that allowed them to answer fundraising due diligence questions in seconds. The platform allowed Untapped to automatically generate key SaaS metrics supported by best in class visualizations. Using the Mosaic analysis canvas, Untapped was able to effortlessly share financials and KPIs with new and existing investors showcasing their mastery and highlighting their growth story.
Leveraging the power of Mosaic Planning, the Untapped team was able to plan for, and share the outcomes of multiple scenarios, satisfying intense deep dives with investors quickly and efficiently.
Investor Confidence, Funding Success.
Preparing for a funding round is hard, but with the right platform it can be much easier. Untapped has raised $70M in additional funding with the help of Mosaic to showcase their growth story and nail their financial plans.
The team avoided the pitfall of misleading financial narratives stemming from error-prone manual financial analysis. By prioritizing financial software designed to scale, they now deliver more robust insights to new and existing investors, a key step in building trust for the future.
“For us to land our additional funding and build trust with our investors, we needed a way to provide compelling growth projections quickly and efficiently. Mosaic provided an all-in-one tool to help us drive clear and confident financial plans for investors."
Mosaic and Untapped are working together to unlock new ways to scale their business to new heights. As Untapped continues to focus on attracting candidates from diverse backgrounds, Mosaic can help them attract more funding from diverse investors.