SaaS startup Drivetrain AI raises $15M in Series A round

By Payal Ganguly
October 19, 2022, Updated on : Wed Oct 19 2022 11:23:33 GMT+0000
SaaS startup Drivetrain AI raises $15M in Series A round
Founded by ex-Partner at Elevation Capital Alok Goel with Tarkeshwar Thakur and Saurav Bhagat, Drivetrain helps businesses manage financial planning and track progress on a single dashboard.
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Drivetrain AI, a financial planning and monitoring platform for growing businesses and enterprises, announced raising $15 million in a Series A round, which saw participation from Elevation Capital, Jungle Ventures, and Venture Highway. Besides, nearly 25 angel investors, advisors, founders, and C-Suite executives at technology companies also contributed to the funding round. 


The HNIs in the round include Akshay Kothari (Notion), former Google executive Amit Singhal, Khadim Batti and Amit Sharma (Co-founders of Whatfix), Krish Subramanian and Karthik Srinivasan (Co-founders of Chargebee), and Kushal Nahata (Founder of FarEye). 


The US-headquartered company will utilise the funds to expand its go-to-market team and for product development. 


Drivetrain AI was founded in 2021 by Alok Goel (ex-Partner at Elevation Capital), Tarkeshwar Thakur (former VP of Engineering at Freshworks), and Saurav Bhagat (ex-VC of Investments at Elevation Capital). 


The Software-as-a-Service (SaaS) platform helps finance teams build integrated business plans, budgets, and forecasts, and tracks the progress against targets. The cloud-based SaaS platform can integrate data from over 200 commonly used business tools, including Salesforce, Netsuite, Quickbooks, Workday, and Looker, across CRM, ERP, and HRMS functions. 



“Drivetrain helps build plans, informs you whether you’re on track, and simplifies course correction. Many leaders manage their business plans and multi-million-dollar budgets on spreadsheets that are cumbersome and error-prone,” said Alok Goel, Co-founder and CEO, Drivetrain.


He added, “Gauging your business health in real-time and applying course corrections is impossible on spreadsheets. Instead, with Drivetrain, you can make better confident decisions in days, not months—a key strategic advantage.”


He told YourStory that the platform worked with mid-market and enterprise-stage companies with an Annual Recurring Revenue (ARR) ranging from $5 million to $100 million. 


“Today, finance teams spend up to four weeks every quarter tracking key business metrics and generating reports for their stakeholders. You can’t make decisions on such stale data. Drivetrain enables these companies to consolidate their data and get insights in near real-time. This helps them focus more on forward-looking questions during board meetings,” said Deepak Gaur, Partner at Elevation Capital, in the statement. 


According to the company’s website, some of Drivetrain AI's customers include digital adoption platform Whatfix, delivery management platform FarEye, and sales readiness platform MindTickle.


Edited by Suman Singh