Cutover

A widespread problem
The need for speedy change can exert a range of pressures across all levels of management in a financial business. Naturally, the whole team can feel nervous that implementing new platforms, migrating to the cloud, or managing resilience – without full orchestration and visibility – could cause breakdowns or damaging delays. Many enterprises crave greater automation of time-consuming tasks, particularly with the expansion of remote and distributed work. To achieve the desired outcome, they need the help of a platform that can bring everything and everyone together.

Cutover’s solution 
Based in London and New York, Cutover provides a platform that helps teams build, observe and orchestrate smarter ways to work. Cutover offers visibility into every part of the process, and automatically records every action along the way. The Cutover platform structures disparate data and enables humans and technology to collaborate efficiently, while maintaining control of thousands of tasks.

Impressive results
Cutover is trusted by world-leading financial institutions, including two of the three largest US banks, and three of the world’s five largest investment banks. We provide a clear path through complexity, helping clients move confidently and quickly. Our customers adopt the platform to coordinate teams and technologies in dynamic, automated runbooks with real-time visibility and control - we’re replacing spreadsheets, connecting disparate tools, and automating manual reporting, to optimise complex work for maximum efficiency and reduced risk. We’re seeing some amazing results - in particular, the Cutover platform helps our customers:

-        improve recovery time by 20%

-        reduce planning time and effort by 35%

-        increase transformation efficiency by 15%

-        cut planning time by around 80% - e.g. from 12 weeks to two.

The company has grown rapidly, especially over the last year, and has recently raised US$35 million in a round led by Eldridge, which included money from Index Ventures, Sussex Place Ventures, and Contour Ventures. The new investment comes 16 months after Cutover raised US$17 million, with substantial growth plans.

Future plans
That growth shows no sign of slowing, with our team doubling in size over the past year. We’re building our product, marketing and engineering teams with some amazing people with deep expertise, so today’s Cutover team is fully equipped to help our clients foresee and tackle new challenges. We’re expanding our product capabilities and moving into new industries, while keeping also the know-how for addressing our current markets. It’s an exciting time as we see the future of work evolving, especially in highly regulated industries, and we’re maintaining a culture of operational excellence through the right combination of teams and technology.

How being part of Rise has helped
We've been associated with Rise since our early days, when we took part in the London accelerator in 2015. That helped us refine our product and build great relationships with key contacts in banks and connected companies, with Barclays being our first enterprise customer. Later, we also took part in the New York accelerator with a more mature product, because we knew it would also help us build those relationships and establish ourselves in a new market. And, what’s even better is that we are still involved. Our London and NYC offices are both still in the Rise buildings, and part of a great community of innovative companies and individuals.