Causal raised a $4.2 million seed round led by Accel.

Causal, a London, UK-based startup building an online tool that's an alternative to spreadsheets, announced completing a $4.2 million capital funding round.

The money was raised from investors led by Accel, joined by existing shareholders Coatue, Passion Capital, Verissimo Ventures, Naval Ravikant and Varadh Jain.

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

Causal. founded in 2019 by Taimur Abdaal and Lukas Koebis, develop 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 $1.3 million.