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Funding Round Profile

Trovata

start up
United States - San Diego, CA
  • 07/06/2022
  • Series B
  • $27,000,000

Trovata helps businesses automate the work it takes to gather and normalize all of its financial data. Trovata lets finance and treasury teams access, build, manage, and control their own trove of financial data – from banks, business & accounting systems, and external markets – connecting to these sources in minutes. We help CFOs answer simple questions that are difficult to answer without doing hours or days of work like, “How much cash do we have right now and where is it going?” This lets us intelligently drive efficiencies through transparent visualization, workflow automation, and machine learning that can transform financial operating performance.


Related People

Brett TurnerFounder

Brett Turner United States - San Diego, California,

Experienced senior executive with over 20 years in public & private high-growth technology companies. For the past 15 years, I've developed a strong track record for building, financing, and growing tech startups from early stage to successful exit. Since leaving Amazon in 2005, my last 3 enterprise startups have all exited and generated over $500M in shareholder value:

> World Wide Packets / $305M exit to Ciena, 2008 / telecom / VP Finance
> Demand Energy / $42M exit to Enel S.p.A., 2016 / energy / Co-Founder & COO/CFO
> 2nd Watch / $165M exit to STT-Temasek, 2019 / AWS-enterprise IT / Co-Founder & CFO

As an operator, I’ve experienced firsthand the importance of talent within an organization and how a great senior team can drive a successful outcome through strategy & strong execution.

As a CFO, I've raised over $100M in equity and venture debt financing and served a key supporting role in the M&A process of $300M Goldman Sachs led startup exit.

My latest venture is in enterprise fintech — Trovata:

For the first 10 years of my career, I was mainly in controller roles after starting as a CPA at Deloitte and later serving as SEC reporting manager at Amazon. In 2005, I began a transition to CFO. At WWP, I developed a complex set of financial operating tools in Excel that would translate P&L based financial planning and accrual-based GAAP accounting into cash-driven reporting metrics to measure operating performance and accurately predict future cash flows. These tools became crucial in helping our senior team manage the business and our Board / VCs loved them.

Seeing what was happening in retail (consumer) banking and having a front row seat to the digital transformation of enterprise IT at 2nd Watch as a pioneering partner with AWS, it became clear to me that the next major digital transformation would take place in every company's finance & treasury operations and how they consume banking services. With Trovata, we're paving the way by modernizing and automating cash management.