Datricks team (company pic)
Datricks is an Israeli startup that offers a financial integrity platform that uses AI to help businesses identify and prevent financial fraud, anomalies, and compliance issues. It analyzes financial processes to understand business context and detect risks, providing finance leaders with a comprehensive overview of their organization’s financial health.
Datricks raised $15 million in a Series A funding round led by Team8’s venture capital arm. SAP, the global leader in enterprise resource planning (ERP) software, also made a strategic investment in the round.
Founded in 2019 by CEO Haim Halpern and CTO Roy Rozenblum, Datricks allows financial teams, in just 5 days, to visualize their process and detect potential risks. The company boasts that its “unique approach” that connects ERP and other systems rapidly and then applies AI to give customers nearly unbelievable results. The smart algorithms developed by the Datricks team run across an organization’s financial data unveiling, identifying, evaluating, and prioritizing risks for the financial team allowing them to conduct root cause analysis to help mitigate issues rapidly. For growing companies planning an IPO or acquisition, Datricks provides a quick and affordable solution to deliver comprehensive financial and compliance reporting to the external auditor.
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“The unknown financial risks are what keep CFOs of large enterprises up at night,” said Haim Halpern, CEO and co-founder of Datricks. “By understanding the full context of financial processes, Datricks is able to analyze 100% of an organization’s data with no sampling limitations, ensuring complete coverage with minimal false positives.”
In July, Datricks expanded its partnership with SAP with the launch of Datricks for Risk Mining as an SAP Endorsed App, available on SAP® Store. The solution enables organizations to proactively detect, prevent, and mitigate risks in real time, through advanced technology and streamlined integration.
“The integration with SAP Signavio solutions marks a significant milestone in our mission to revolutionize risk management and ensure financial integrity,” said Roy Rozenblum at the time. “By combining our AI-powered risk mining with SAP Signavio’s process expertise, we empower organizations to identify and proactively address risks and financial integrity, ensuring sustainable growth and resilience.”
