The company was founded by Idan Vlodinger and Shahar Lahav and aims to save CFOs time and money by managing their finances faster and better. The platform connects with multiple banks and ERP systems to reflect real-time cash positions and working capital analytics. The treasury management space, once considered merely business financial management, has seen more companies operating with powerful AI tools, including Kyriba, Neo, and HighRadius, which achieved unicorn status in 2020.
Key takeaways:
- Statement, a cash flow intelligence company, has raised $12 million in Seed funding from Glilot Capital Partners, Citi, Mensch Capital Partners, Titan Capital, and Operator Partners.
- The funds will be used to bolster market launch strategies, speed up product development, and expand the team to 35 employees by the end of 2024.
- Statement's Cash Intelligence Platform provides enterprises with a real-time overview of their financial data, automates accounts receivable reconciliation, and forecasts cashflow using AI.
- The platform aims to save CFOs hundreds of hours per month on manual data collection and enrichment, and hundreds of thousands to millions of dollars by managing their money faster and better.