Why We Invested · Underscore VC
Why the firm invested
Underscore VC invested in Clockwork because its platform aims to empower rather than replace the role of finance for SMBs.
Clockwork’s aim is to empower, not replace, the role of finance for SMBs, and that’s exactly why we like it.
Market
Clockwork targets a market of over 5 million US-based small businesses in need of accessible FP&A solutions.
Clockwork solves a significant and consistent problem for upwards of 5 million US-based businesses.
Product
Clockwork's AI platform enables SMBs to save over 20 hours per month managing, planning, and predicting finances and cash flow.
Clockwork’s technology enables often overlooked companies to save 20+ hours a month on managing, planning, and predicting their finances and cash flow.
Clockwork integrates with QuickBooks Online and Xero to automatically generate 5-year projections, 52-week cash flow forecasts, dashboards, and custom scenarios.
With integrations into QuickBooks Online and Xero, the platform automatically builds unique 5-year projections, 52-week cash flow forecasts, dashboards, and can build unlimited custom assumptions and scenarios in seconds, not days or weeks.
Traction
Clockwork users log into the platform an average of 12 times per month.
Unlike other back-office software, users of Clockwork onboard fast, are highly engaged, and log in on average 12 times a month.
Clockwork has scaled to over 100 businesses and dozens of partner firms.
They’ve quickly scaled to 100+ businesses and dozens of partners, and we’ve been impressed with the feedback from early users about the ease of use and leverage Clockwork gives to their business.
Team
Founder and CEO Fady Hawatmeh has 15 years of FP&A experience, having worked at Boeing, served as CFO at Third Eye Health, and run an outsourced CFO firm.
While working in FP&A at Boeing, Fady managed a set of unbelievably complex spreadsheets for planning and budgeting. From Boeing, he was CFO at Third Eye Health before starting his own outsourced CFO firm, where he worked with dozens of SMBs to manually solve the problems the Clockwork platform will eradicate.
Investment context
Underscore VC led Clockwork's $2M Seed funding round.
Today, we’re thrilled to share that Underscore VC led Clockwork’s $2M Seed round.
What founders can learn
- What actually moved the decision: Underscore VC wrote that Underscore VC invested in Clockwork because its platform aims to empower rather than replace the role of finance for SMBs.
- The traction evidence that carried weight: Underscore VC wrote that Clockwork users log into the platform an average of 12 times per month.
- How the team was judged: Underscore VC wrote that Founder and CEO Fady Hawatmeh has 15 years of FP&A experience, having worked at Boeing, served as CFO at Third Eye Health, and run an outsourced CFO firm.
- How the market was framed: Underscore VC wrote that Clockwork targets a market of over 5 million US-based small businesses in need of accessible FP&A solutions.
Source and provenance
Why We Invested published by Underscore VC on underscore.vc (first-party source). Read the original
