Causal raised a $20 million funding from investors led by Coatue and Accel.

Causal, a London, UK-based startup building an online tool that's an alternative to spreadsheets, announced completing a $20 million capital funding round.

The money was raised from investors led by Accel and Coatue, joined by Yelp CEO Jeremy Stoppelman, FTX CEO Sam Bankman-Fried, Notion COO Akshay Kothari and Brex CRO Sam Blond, AngelList co-founder Naval Ravikant and Adobe CPO Scott Belsky.

Proceeds will be used to hire more engineers and take the product to market.

Causal. founded in 2019 by Taimur Abdaal and Lukas Koebis, developed a tool that aims to replace Excel, Google spreasheets and the like. The tool's purpose is business planning and forecasting for small teams looking to work with simple spreadsheets, some already pre-populated with variables models.

Causal previously raised in total roughly $5.5 million in 2021 and in 2020.