{"id":28482,"date":"2020-07-21T17:32:13","date_gmt":"2020-07-21T17:32:13","guid":{"rendered":"https:\/\/informationvp.com\/?p=28482"},"modified":"2020-07-21T17:32:13","modified_gmt":"2020-07-21T17:32:13","slug":"what-is-old-is-new-or-newer-again","status":"publish","type":"post","link":"https:\/\/informationvp.com\/what-is-old-is-new-or-newer-again\/","title":{"rendered":"What is Old is New, or Newer Again"},"content":{"rendered":"

They say accounting is dull.\u00a0 Maybe.\u00a0 They say accountants are boring.\u00a0 Some are.\u00a0 So, by extension, accounting software has to be a yawner.\u00a0 Wrong!\u00a0 OK, maybe.\u00a0 Not many people wake up in the morning and say, I have to build the next great accounting software package.\u00a0 But some do.\u00a0 Martin Zych is one of those people and founded Jirav<\/a>, the next generation budgeting, planning and forecasting platform for the mid-market.<\/p>\n

Having been the Head of Finance for many organizations and having raised money in numerous financings, and built models, over and over again, he had an epiphany that many great entrepreneurs have, \u201cthere has to be a better way\u201d.\u00a0 Jirav is that better way.\u00a0 A driver based modelling application that will help finance professionals build budgets and plan quickly and easily, model scenarios all while minimizing the inputs and maintenance required through the integration of the ecosystem partners, that is novel.\u00a0 Steve Turner, Martin\u2019s co-founder also thought it novel and a challenge, and joined to help build it.<\/p>\n

And to us at Information Venture Partners, this is exciting stuff.\u00a0 So, while it may not be the most exciting thing for other VCs, it is to us, and we like to find the financial software gems and back their visions.\u00a0 Jirav is one of those.\u00a0 We were early investors in Adaptive Insights<\/a> (at the time Adaptive Planning) when it was just over $1M in revenue, and sold it for almost $1.6B many years later. We recognized the problem over a decade ago and yet, so little has changed. They took what is old, and made it new.<\/p>\n

Jirav has evolved the model some more, and made it even newer. \u00a0We see a similar opportunity and the reasons are simple.\u00a0 First, everyone budgets and plans.\u00a0 There isn\u2019t a business on the planet that doesn\u2019t have a plan.\u00a0 It may not be complex, it might be in Excel or the back of a napkin, but everyone knows how much they need to sell to make a profit and stay in business.\u00a0 Second, Jirav makes planning a breeze.\u00a0 As one of the finance heads we spoke to said, what \u201ctook 40 hours in Excel took 4 hours with Jirav\u201d. There are hundreds of thousands of mid-market businesses globally, and each has a finance department, and each needs to be a strategic partner to the business.\u00a0 Third, accounting is changing. Accountants and accounting firms are being asked by their customers for insights.\u00a0 Many of their customers want more from their accounting partners, and accountants recognize the need to evolve their relationships.\u00a0 There are 10s of thousands of accounting firms in the US alone.\u00a0 Fourth, we need to see the future.\u00a0 Giraffes have long necks to see further.\u00a0 Jirav can too.\u00a0 Integrations with leading operational systems simplify the build and maintenance of the models and provide real-time perspectives of what lays ahead.\u00a0 And lastly, in times of uncertainty, you can never plan enough.\u00a0 With COVID, we learned that the world can change quickly, and smart business of all sizes need to plan appropriately to stay ahead.\u00a0 The small and mid-sized business have borne the brunt of the dislocation, and Jirav has arrived with the right platform, just in time.<\/p>\n

You never know what you can see at the zoo or at accounting conferences, but we are thrilled to have found a Jirav.\u00a0 We love the team, the product, our co-investors, and the company\u2019s emerging partner base.<\/p>\n

We admire the many finance professionals and accountants who have shared their experiences with us and share Martin\u2019s epiphany to advance planning into the 21st<\/sup> century.\u00a0 They will make a difference to their teams, as we hope to do with the Jirav team.<\/p>\n

We believe budgeting will evolve a lot more, we are planning on it.<\/p>\n

– Rob, Alex, Brendan and the Information Venture Partners team<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

They say accounting is dull.\u00a0 Maybe.\u00a0 They say accountants are boring.\u00a0 Some are.\u00a0 So, by extension, accounting software has to be a yawner.\u00a0 Wrong!\u00a0 OK, maybe.\u00a0 Not many people wake up in the morning and say, I have to build the next great accounting software package.\u00a0 But some do.\u00a0 Martin Zych is one of those […]<\/p>\n","protected":false},"author":4,"featured_media":28485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[20],"tags":[58],"yoast_head":"\nWhat is Old is New, or Newer Again - Information Venture Partners<\/title>\n<meta name=\"description\" content=\"So, while it may not be the most exciting thing for other VCs, it is to us, and we like to find the financial software gems and back their visions.\u00a0 Jirav is one of those.\u00a0 We were early investors in Adaptive Insights (at the time Adaptive Planning) when it was just over $1M in revenue, and sold it for almost $1.6B many years later. 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