Datricks raises $15M Series A to advance its AI-powered Financial Integrity Platform
This funding follows the expansion of Datricks’ commercial partnership with SAP, supporting the platform’s mission to help organizations uncover unknown financial exposures that keep CFOs up at night, by mapping processes and surfacing hidden risks in real time.
Backed by Team8 and SAP, the Israeli startup’s platform autonomously detects unknown financial risks, surfaces hidden anomalies, and proactively prevents them from escalating into financial or reputational damage for large enterprises.
16:00, 11.09.24
Datricks, which has developed an AI-powered compliance and risk management platform, announced on Wednesday that it has raised $15 million in Series A funding led by Team8’s venture capital arm. SAP, the global leader in enterprise resource planning (ERP) software, made a strategic investment in the round, alongside participation from existing investor Jerusalem Venture Partners. JVP led Datrick’s $6.5 million Seed round.
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Modernizing continuous control monitoring
When vendors are paid before goods are received — whether due to fraud or innocent oversight — that’s when exposure happens. In this use case, see how advance payment fraud unfolds, and how to shut it down before any damage is done.
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