Statement, a cash flow management platform for enterprises, raises $12M
Summary
Tasks like monitoring all of the companys cash in real time across all legal entities, regions and financial institutions are extremely labor-intensive and time-consuming. Finance and treasury teams are ultimately in charge of their companys financial health and bear the weight of the world on their shoulders, but they dont have access to the information needed to make timely, mission-critical decisions.Before founding Statement, Vlodinger worked at Amazon, where he was a senior product manager at Prime Video. After leaving Amazon for Mastercard, where he eventually graduated to the role of VP of products and innovation, Vlodinger teamed up with Shahar Lahav, a former researcher in the Israel Defense Forces, to launch Statement.Vlodinger describes Statement as a cash intelligence platform for companies working with multiple banks, managing liquidity and attempting to forecast their cash flow. Statement connects with banks and integrates with existing systems, including business tools (e.g. Google Sheets), enterprise resource management platforms (e.g. Oracle Cloud, NetSuite) and payment providers (e.g. PayPal, Stripe), to reconcile and sync real-time financial data to give visibility into a firms cash performance, Vlodinger says.Statement can automatically categorize transactions for financial reports. Revenue has increased 10x over the past year, meanwhile despite competition from vendors like Kyriba, Trovata, Ion and GTreasury.Gearing up for further growth, Statement plans to expand its 31-person team, which is split between offices in New York and Tel Aviv, to 35 people by the end of next year.The pandemic, supply chain risk, volatile markets, rising interest rates and high inflation have caused global enterprises management to be laser-focused on their finances and cash.
Funding
Review available funding amount, funding date, investors, and linked company information related to Statement, a cash flow management platform for enterprises, raises $12M in the interactive ISVWorld profile.