Tesorio, a Burlingame, CA-based provider of an AI-driven cash flow performance platform for finance teams, raised $10M in Series A funding.
The round was led by Madrona Venture Group with participation from existing investors First Round Capital, Floodgate, Y Combinator, Fathom Capital, and Fuel Capital.
The company intends to use the funds to accelerate technology development, including integration of new partners and data sources, to deepen enterprise functionality, and to expand go-to-market initiatives.
Founded in 2015 by Carlos Vega, CEO and Fabio Fleitas, CTO, Tesorio provides an AI powered cash flow performance platform, which Accounts Receivable, Treasury, and FP&A teams use to manage, predict, and collect cash. Its AI processes over $30 billion in transactions each year for companies ranging from 50 to 10,000 employees. The company serves customers around the globe with AR automation and cash flow forecasting, across verticals including software, manufacturing, retail, finance, and pharmaceuticals.
The list includes Veeva Systems, Box, and WP Engine.