Thinknum Closes $1M Funding for Cloud-based Financial Analysis Platform

A fairly new startup dedicated to providing a cloud-based financial analysis platform to analysts is now welcoming funding from investors.

New York City-based Thinknum on Monday said it has closed a $1 million seed round led by Pejman Mar Ventures, with participation by Signature Capital, Green Visor Capital, 645 Angels, HKB Capital and 500 Startups.

Started by two bankers, Thinknum offers two applications to its customers: Cashflow Model, a way to for analysts to compare evaluation models; and Plotter, an app that allows users to evaluate data sets.

Gregory Ugwi, one of the company’s co-founders, said in a statement that the company was founded because he and his partner, Justin Zhen, found it “frustrating to have to email spreadsheets back and forth when building valuation models.”

The company said its platform has thousands of users using it, including financial services firms such as Goldman Sachs, Morgan Stanley and Bridgewater.

The Wall Street Journal reported that the company will monetize its platform by releasing a paid, private workstation for hedge funds and other finance professionals.

Follow CJ Arlotta on Twitter @cjarlotta and Google+ for further updates on the story above — or if you just want to say hello.