# Fluence Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fluence-technologies

- Industry: Financial Services
- Headquarters: Toronto, Canada
- Website: www.fluencetech.com
- Total disclosed funding: $10M
- Latest round: Series A (May 4, 2021)
- Investors on record: 1

## About

Based in Ontario, Canada, and founded in 2018 by Don Mal, John Power, and Hervé Capo, Fluence Technologies operates as a fintech company that offers financial consolidation tool software used for accounting. Prior to co-launching Fluence, Mal served as founding CEO of Toronto-based financial planning startup Vena, which recently raised $300 million CAD from Vista Equity Partners. The company has appointed performance management software veteran Michael Morrison as its new CEO. Morrison is replacing Fluence’s founding CEO John Power, who is transitioning to COO. In the new role, Power will focus on customer success and guide Fluence’s product vision. Morrison has a proven track record leading global finance, accounting, and data analytics software companies through periods of transformation and rapid growth. His executive experience goes back to the early days of performance management software, including VP and officer roles at companies including Applix, Cognos, and IBM. More recently Morrison held the chief executive post at software vendors Datawatch and CoreView. In May 2021, Fluence raised CAD 12.5 million Series A funding from Banneker Partners.

Fluence provides cloud-based financial close and consolidation software for mid-sized companies to get access timely to numbers for clients to strategically plan their financials before launching in the market.

Fluence will use the proceeds from the Series A funding in May 2021 to accelerate its rapid growth in financial close and consolidation software for the mid-market. To expand its customer base and product offering, the company is already accelerating its product roadmap and making considerable new investments in its services, customer success, sales, and marketing teams.

## Funding rounds

- Series A, May 4, 2021, $10M — Banneker Partners

## Investors

- Banneker Partners (https://capitalatlas.ai/funds/banneker-partners) — Series A