# Trovata

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/trovata

- Industry: Software
- Headquarters: Solana Beach, US
- Website: www.trovata.io
- Total disclosed funding: $57M
- Latest round: Series B (Jun 6, 2022)
- Investors on record: 7

## About

Trovata, Inc. is a technology company that automates cash management, centralizing multi-bank data into a user-friendly platform for finance professionals and organizations.Founded in 2016 in Solana Beach, US, Trovata, Inc. specializes in cash management solutions. The company raised USD 27.00 mn in Series B funding on June 6, 2022, led by Fin Venture Capital, with participation from notable investors such as Capital One Ventures and JP Morgan Asset Management. The company has executed a total of 7 deals to date, achieving a current valuation of USD 173.45 mn.Trovata specializes in automating cash management through its innovative platform that centralizes multi-bank data, providing users with an intuitive cash command center. The core product offerings focus on the automation of reporting, accurate forecasting using machine learning, and the consolidation of cash data from various banks into customizable dashboards. This functionality allows organizations to gain a comprehensive view of their cash positions, streamline month-end closing processes, and enhance decision-making capabilities. Trovata serves a diverse client base, including treasury teams, finance departments, CFOs, and accounting professionals across various industries, enabling them to eliminate manual data entry and reduce the risks associated with outdated treasury technologies. The company’s solutions are available in multiple geographical markets, including North America and Europe, targeting organizations looking to optimize cash management practices in a rapidly evolving economic landscape.Trovata's revenue model is primarily based on a subscription structure, where clients pay for access to the platform's suite of cash management solutions. This subscription may include features such as cash flow analysis, cash reporting, and automated cash forecasting. Clients typically engage with Trovata through annual contracts, which provide them with continuous access to updated functionalities and customer support. The firm’s flagship offerings, designed to enhance cash visibility and reporting accuracy, cater specifically to treasury and finance professionals, helping them manage their cash positions with greater confidence. By automating bank data aggregation and providing real-time insights, Trovata ensures that clients can respond swiftly to financial fluctuations, thereby fostering long-term partnerships with its users.Following its Series B funding round on June 6, 2022, where Trovata raised USD 27.00 mn, the company plans to utilize the capital to expand operations and drive growth. Current initiatives include the design and launch of new products aimed at enhancing cash management capabilities, although specific release dates have not been disclosed. Moreover, Trovata is targeting new market expansions in Europe and Asia over the next two years, aiming to increase its customer base and service offerings in these regions.

## Funding rounds

- Series B, Jun 6, 2022, $27M — Wells Fargo Capital Finance, JP Morgan Asset Management, Pivot Investment Partners, Capital One Ventures, NAB Ventures, Fin Capital
- Series A, Jan 19, 2021, $20M — Wells Fargo Capital Finance, JP Morgan Asset Management, Pivot Investment Partners, Capital One Ventures, FINTOP Capital
- Seed, Apr 21, 2020, $4.3M — JP Morgan Asset Management, FINTOP Capital
- Seed, Dec 1, 2018, $5.5M — JP Morgan Asset Management, FINTOP Capital

## Investors

- JP Morgan Asset Management (https://capitalatlas.ai/funds/jp-morgan-asset-management) — Seed, Series A, Series B
- FINTOP Capital (https://capitalatlas.ai/funds/fintop-capital) — Seed, Series A
- Wells Fargo Capital Finance (https://capitalatlas.ai/funds/wells-fargo-capital-finance) — Series A, Series B
- Pivot Investment Partners (https://capitalatlas.ai/funds/pivot-investment-partners) — Series A, Series B
- Capital One Ventures (https://capitalatlas.ai/funds/capital-one-ventures) — Series A, Series B
- NAB Ventures (https://capitalatlas.ai/funds/nab-ventures) — Series B
- Fin Capital (https://capitalatlas.ai/funds/fin-capital) — Series B