Seattle startup Finagraph today announced a $5 million investment round led by Moody’s Corporation, the parent company to Moody’s Investors Service and Moody’s Analytics.
Founded in 2010, Finagraph will use the fresh cash to further develop its financial data intelligence platform that is used with accounting software and can assess risk. The company this year had already received investment from Moody’s and also helps power a product called MARQ within Moody’s Analytics.
Total funding to date for Finagraph is now $7.1 million.
“Finagraph has been successful by staying true to our vision of creating really efficient technology that closely aligns to the needs of our customers,” Finagraph CEO James Walter told GeekWire. “By doing so, we have been able to truly automate the collection of financial data.”
Finagraph is part of a corporate entity called Booyami that also offers other financial-related products like BBC Easy, which automates the lending process for businesses. Booyami, which employs 18 people, was founded by Walter and Corey Ross in August 2010. Walter spent seven years at Microsoft working on Xbox and Windows 7. Before that, the computer science grad from the University of Alaska ran the engineering and IT groups for the venture-backed startup MidStream Technologies. Ross is a former vice president at Banner Bank and Bank of America.