Datricks Secures $15 Million in Series A to Revolutionize Risk Management

The founders of Datrix, Haim Halpern (right) and Roy Rosenblum

Datricks, a company specializing in financial risk detection, control, and prevention, has successfully raised $15 million in a Series A funding round. The investment was led by Team8, with participation from SAP, which made a strategic investment following their existing commercial partnership. JVP, led by Erel Margalit, which headed the company's previous funding round, also joined. This new investment adds to Datricks' earlier seed funding of $6.5 million, bringing its total raised capital to $21.5 million.

Datricks’ platform utilizes AI to automatically assess risks by identifying hidden patterns, predicting issues before they arise, and providing actionable insights. The technology allows organizations to take real-time preventive measures against fraud and enforce financial integrity according to company policies. Datricks' solution is already used by dozens of global clients across various industries, including CyberArk, Element Solutions, Forvia Hella, and Fortune 500 companies. The company’s commercial partnership with SAP includes the integration of Datricks’ risk mining solution into SAP's product suite.

Founded in 2019 by CEO Haim Halpern and CTO Roy Rosenblum, the two have worked together for over two decades, previously co-founding and managing Xact Soft, which was later sold to One. Datricks currently employs 20 staff members across offices in Israel, the U.S., and Germany, with plans to expand its workforce this year.

CEO Haim Halpern stated, "Our platform is designed for financial professionals and auditors to ensure accuracy in control and oversight processes. Powered by AI, we analyze organizational data thoroughly, pinpoint the root of risks, and issue real-time alerts to enhance existing controls without requiring ongoing effort, delivering reliable and precise answers."

Source: Meir Orbach / Calcalist