#Israel #Tel Aviv #Celery #AI Financial Tools #Team8

Celery Secures Fresh Funding for Advanced Financial Oversight

Celery, an innovative financial operations platform, has successfully raised $6.25 million in seed funding to further develop its AI-powered solutions for internal auditing. This funding round was led by Team8, accompanied by contributions from other notable investors such as Verissimo Ventures, Centre Street Partners, and 97212 Ventures. With this new investment, Celery’s total funding has reached $9 million, paving the way for significant advancements in financial error prevention.

The growing demand for advanced internal control mechanisms in labor-intensive sectors like healthcare, construction, hospitality, and manufacturing has created a fertile ground for Celery's AI technology. The platform significantly reduces the time spent on manual audits and reviews, enabling businesses to identify critical issues like fraud and compliance risks in mere minutes.

Starting as a payroll auditing tool, Celery has evolved into a comprehensive financial monitoring system capable of providing insights into both corporate revenue and expenses. In a landscape where finance leaders face increasing pressure to optimize spending and maintain compliance, Celery's solutions can enhance operational efficiency—decreasing manual oversight by an impressive 91% and further reducing payroll-related costs by 0.6% on average. Notably, businesses employing the platform have reported an average return on investment of eight times.

To date, Celery has already processed over 430,000 payslips and managed more than $550 million in payroll data, successfully preventing losses of approximately $2.3 million for its clients.

Yuval Brot, CEO and co-founder of Celery, highlighted the critical need for automation in today’s finance landscape: "Finance leaders today are being asked to do more with less. Yet financial controls are still being conducted manually across extensive spreadsheets and system interfaces. We built Celery to streamline this outdated workflow, providing real-time, automated oversight that is both accurate and cost-effective."

The leadership team of Celery brings a wealth of knowledge to the company: Yuval Brot, a seasoned entrepreneur; Noam Slomianko, a cyber expert; and Hillel Shalev, a CPA and former biotech CFO. Shalev reflects on his experience in the finance sector, stating, "I spent years tracking down financial discrepancies and reconciling spreadsheets that ought to have been flawless. Recognizing the need for a smarter approach to minimize risk while enhancing accuracy was critical in developing Celery's service offerings."

Currently, Celery’s platform is already benefiting numerous U.S. healthcare organizations. One prominent client, the New York-based health provider Ultimate Care, reported significant savings of over $200,000 annually in reduced overtime and discrepancy concerns following its switch to Celery's solutions. The transition not only uncovered concealed payroll issues but also yielded immediate ROI by automating their auditing processes.

Hadar Siterman-Norris, a Partner at Team8, noted the existing pressures in the finance sector: "CFOs are under mounting pressure to cut costs and validate compliance, yet many still rely on manual processes. Celery offers CFOs clarity regarding the concealed risks within their data, allowing for more optimized and smarter operations. With 82% of CFOs planning to increase their fintech expenditure in 2025, solutions like Celery are evidently prioritized due to their substantial ROI potential—automation addresses the shortcomings of manual audits."

The innovative platform will be showcased later this month at LTC 100, venturing alongside key fintech investors and CFOs within the healthcare sector. The investment will propel Celery’s product development initiatives, expand their market engagement efforts, and introduce additional audit tools focused on fraud detection, expense review, and fixed asset management. Moreover, the company is eyeing collaborative opportunities with key payroll provider partnerships and accounting platforms.

Founded in 2023, Celery is dedicated to providing an AI-driven financial oversight platform that aids finance teams in pinpointing costly financial errors before they impact the bottom line. With a focus on industries that rely heavily on labor, their advanced tools work to replace complex manual audits with intelligent algorithms that efficiently identify inefficiencies, fraud, and compliance risks. As the demand for automated financial monitoring solutions continues to grow, Celery is poised to become an essential resource for finance teams across the U.S.

For more information, visit Celery's official website.