Mosaic

Mosaic develops financial planning and analysis (FP&A) software that centralizes operational and financial data from across an organization and presents it through dashboards, modeling and data visualization tools. The company positions the product as a "Strategic Finance Platform" combining real-time analytics with dynamic planning, letting finance teams and business partners move from raw data to decisions on questions such as when to expand sales teams or raise additional capital. Users can build department- or executive-level views for reporting, due diligence and go-to-market analysis, and the platform is architected to avoid IT involvement during implementation and maintenance, with customers reported as going live in roughly four weeks.

The product is now delivered as HiBob's Finance Suite, marketed as Bob Finance, and comprises Bob Financial Insights for reporting and analytics and Bob Financial Planning for budgeting and forecasting. Capabilities described include 30+ live data integrations, more than 150 out-of-the-box metrics with a custom metric builder, live people-data and headcount synchronization with the Bob HCM platform, collaborative department budgeting, connected three-statement models, vendor-level budget-versus-actuals analysis, and scenario modeling across revenue, headcount, operating expense and cash. As of the current site, the Bob Finance experience is being rebuilt with new AI capabilities and is temporarily unavailable.

Founding story

Bijan Moallemi, Joe Garafalo and Brian Campbell met in 2012 at Palantir Technologies, where they helped build and scale the finance team as the company grew to about 2,500 people and over $750 million in revenue in under ten years. Frustrated by the six-month implementation and ongoing maintenance burden of an incumbent FP&A system, and by the slow speed and complexity of existing tools, they later held senior finance roles at companies including Piazza, Axoni and Everlaw before reuniting to found Mosaic in 2019.

Business model

Mosaic sells FP&A software to corporate finance departments, historically as a standalone subscription platform with an open API, and currently as a module within HiBob's HCM platform, with prospects entering through demo requests and product tours.

Software subscription revenue from finance teams; annual recurring revenue was described in mid-2023 as being in the tens of millions of dollars.

Traction

The company reported approximately 300% customer growth year over year and 3x top-line growth in 2022, with business described as tripling each year since founding and a steadily decreasing burn rate. It had about 80 full-time employees in mid-2023, roughly a quarter based at its San Diego headquarters, and annual recurring revenue in the tens of millions.

Latest developments

The Bob Finance product is being reimagined with a new user experience and additional AI capabilities and is stated to be temporarily unavailable while that work is underway; HiBob's Finance Suite continues to be marketed alongside the rest of the Bob platform.