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Statement , a inauguration developing a platform for enterprise cash menstruation management , today announced that it raise $ 12 million in seed funding .
Glilot Capital Partners bring to the tranche with involvement from Citi , Mensch Capital Partners , Titan Capital and Operator Partners . Colorado - founder and CEO Idan Vlodinger sound out that it ’ll be used to “ double down ” on Statement ’s go - to - market effort and “ accelerate ” the pace of product growing .
“ Many traditional finance and First Lord of the Treasury operations are manual , prison term - consuming and complex , ” Vlodinger told TechCrunch in an e-mail interview . “ Tasks like monitoring all of the company ’s John Cash in real sentence across all legal entities , region and financial institutions are highly labor - intensive and fourth dimension - consuming . Finance and treasury teams are ultimately in charge of their society ’s financial wellness and birth the weightiness of the world on their shoulders , but they do n’t have admission to the info needed to make well-timed , mission - vital decisions . ”
Before founding Statement , Vlodinger worked at Amazon , where he was a elderly mathematical product handler at Prime Video . After leaving Amazon for Mastercard , where he eventually graduated to the role of VP of products and foundation , Vlodinger teamed up with Shahar Lahav , a former research worker in the Israel Defense Forces , to launch Statement .
Vlodinger describes Statement as a “ hard cash intelligence ” platform for companies working with multiple banks , managing liquidity and essay to forecast their cash flow . financial statement connects with banks and integrates with live systems , admit business tools ( e.g. Google Sheets ) , enterprise resource direction political program ( for instance Oracle Cloud , NetSuite ) and requital provider ( for example PayPal , Stripe ) , to reconcile and synchronize real - time fiscal data to give visibility into a business firm ’s cash performance , Vlodinger pronounce .
Statement can mechanically categorize dealings for financial reports . And it can forecast short- and long - term Johnny Cash current , establish a baseline and analyzing historical trends to ameliorate overall prognosis accuracy . Elsewhere , Statement ’s workflow mechanisation shaft allow team to automate repetitious and manual tasks like cross - checking between banks and reporting errors .
“ Statement saves the agency of the CFO hundreds of hours per month on manual data collection and enrichment , and C of chiliad to millions of dollars by being able to manage their money quicker and better , ” Vlodinger said . “ CFOs deserve to work with great software , with a fantastical user interface , that has real - time datum , and have the system ‘ speak ’ to each other with rightful data reconciliation , so they can center on growing their job . ”
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Vlodinger claim that Statement , founded in 2022 , already has dozens of company in its client roster . taxation has increased 10x over the retiring year , meanwhile — despite competition from vendors like Kyriba , Trovata , Ion and GTreasury .
Gearing up for further growth , Statement plans to elaborate its 31 - somebody team , which is split between offices in New York and Tel Aviv , to 35 masses by the remainder of next year .
“ The pandemic , supplying chain peril , fickle market , uprise interest rates and high inflation have caused world-wide go-ahead ’ direction to be laser - focussed on their finances and immediate payment . The engineering lot for the office of the CFO has emerged as a key ingredient in this landscape painting . As a result , it now comprise one of the most exciting opportunities and area for development and initiation . ”
