September 11, 2024 at 11:24AM
Datricks, a compliance and risk management startup, has secured $15 million in Series A funding led by Team8’s venture capital arm, with additional investments from SAP and Jerusalem Venture Partners. The Tel Aviv-based startup, founded in 2019, offers an AI-based platform for financial risk detection, which has already prevented significant losses for its clients.
From the meeting notes, clear takeaways about Datricks startup include:
– Datricks raised $15 million in a Series A funding round, bringing the total raised to over $21 million.
– Funding was led by Team8’s venture capital arm, with additional investments from SAP and Jerusalem Venture Partners.
– The Tel Aviv, Israel-based startup specializes in AI-based platform for financial risk and anomaly detection.
– Datricks’ platform, called ‘risk mining’, uses AI to identify anomalies, fraud patterns, and compliance issues and provides root cause analysis and automatic remediation.
– The platform can start identifying issues within a week after being connected to an organization’s data sources.
– Datricks solution is already used by Fortune 500 businesses and large consulting firms, preventing hundreds of millions in losses.
If any further clarification or details are required, feel free to ask.