Hello there! In today’s digest, I’m covering a startup with some big backers that aims to become your all-in-one tool for business planning. But first…
Some headlines:
📷 Apple and Google have joined forces to make photo transferring much easier.
🛰️ Starlink Mini is now available for anyone in the US who wants to roam.
💰 Google is no longer acquiring Hubspot after due diligence setbacks.
🇪🇺 The EU has ended Apple’s anti-trust probe after some commitments from the company.
This tool raised $22M from YC’s Garry Tan to automate your company’s finances
Managing your company’s finances is one of the hardest parts of being a startup founder. When you boil it down, everything comes back to the bottom line. You need to ensure there's adequate runway to meet any challenges, pay employees, invest in R&D, and pay for equipment. That’s just a start.
Needless to say, being on top of finances is key, and there are tools to help. Runway Financial is one of them. The team recently raised $22.75 million from Garry Tan and Initialized Capital before CEO Siqi Chen made the platform live to the general public.
Runway’s platform is marketed as a “modern, user-friendly interface for financial modeling, headcount planning, departmental budgeting, and more.” It can connect to over 650 business tools, including all the platforms you might use for things like accounting, human resources, customer relationship management, etc.
By doing this it automatically ensures that all of your important documents, such as financial documents, are up to date, so you don’t have to waste time looking for a contract you need to reference.
Unsurprisingly, it comes with a heavy dose of AI. It ships with “Ambient Intelligence,” a suite of AI features that live in the background designed to help teams dig deep into their finances for insights and automate workflows—all without needing to be prompted.
Alongside some of the more hidden AI features, Runway Financial also ships with a generative AI assistant aptly named ‘Runway Copilot,’ which can help users generate and model any kind of financial scenario. All you have to do is type a prompt, and the copilot will pull in data from the relevant connected tools and use it to generate a business plan and projection.
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