Gaviti, an automation platform that assists businesses in collecting and managing customer bills, closed a Series A funding round of $9 million led by Flashpoint, a UK-based company. It also includes Moneta Ventures and North First Ventures as well as TAU Ventures and LETA Capital.
The technology allows businesses to manage collections using a user-friendly app, which allows them to access key cash flow arteries that would otherwise be blocked by manual steps.
Receivables are a company’s lifeblood.
Receiving unpaid receivables from B2B companies is a tedious task that takes company resources.
Software solutions that are tailored to the needs of accounts receivable departments will be needed.
Gaviti provides follow-up and workflow tools to collections professionals, much like how sales teams use CRMs to manage communication and sales process.
Automating Accounts Receivable collections using a unique, purpose-built system can speed up the collection process. It will lower stress and increase cash flow. “This is a challenge that all businesses confront, but none of them have figured out how to solve it without putting pressure on employees and customers,” said Yan Lazarev, Gaviti’s co-founder, and CEO. “By automating normally inefficient manual operations, our clients were able to reduce the number of delinquent receivables by 35%.”
Gaviti was founded by Alex Komarovsky, his co-founder, and CTO. It is the only company that can seamlessly interface with ERPs from other companies using one common language.
This allows for a quick onboarding process for new users, and teams can see a return on investment as soon as new software is implemented.
Gaviti will use the cash to expand its services. Komarovsky stated, “Our main focus remains to be coordinating with organizations to streamline this once time-consuming process.” “With this round of funding, we’ll be able to keep expanding and adding additional features to this more streamlined collection method.”
“We are really delighted to partner with Gaviti, who provides businesses with global payment choices,” said Flashpoint Venture Capital Managing Partner Alexander Konoplyasty. “Gaviti’s support will assist hundreds of enterprises in going worldwide, increasing sales, and lowering total expenses.” We’ve been tracking their progress for a while and are confident in their future success.”