Treasury4 landed $20 million, providing fresh capital for the tech startup that helps enterprises and public sector professionals manage their financial and treasury processes.
The Spokane, Wash.-based company sells a data analytics platform for planning and risk management. It provides real-time insights using a company’s internal data, helping CFOs and other financial professional manage their corporate finance and treasury tasks.
Nathan Brown, co-founder and chief analytics officer, told GeekWire that various forces are currently impacting financial management. He cited rising interest rates and growing concerns about counterparty risks, leading finance departments to diversify through multi-bank relationships.
“These dynamics have created increased complexity, elevated the focus on managing cash actively as an earning asset class, and resulted in greater demand for Treasury4 solutions,” he said.
The startup sells to enterprises in all industries, including real estate, tech, and private equity. The company said its first public sector client was Spokane County, but it declined to reveal specific financial metrics.
Brown said the startup is exploring different ways to roll out generative artificial intelligence tools for various tasks including financial forecasting.
Treasury4 was co-founded in 2020 by a trio of veterans of Itron, a Liberty Lake, Wash. tech company focused on managing energy and water resources.
- President and CEO Steve Helmbrecht formerly served as CFO at Itron. He also was CEO at privately held investment firm Lakeside Capital Group and CFO and president at apartment startup Stay Alfred. Helmbrecht serves on the board of Washington Trust Bank and Rohinni, a microelectronics startup.
- Co-founder and chief product officer Ed Barrie, former senior director of treasury at Tableau Software (acquired by Salesforce), held treasury roles at Itron and Microsoft.
- Brown spent 12 years at Itron, most recently as director of global commercial financing programs.
Treasury4 has about 30 employees, up from 14 when it raised $3.4 million in 2021 from Kickstart and Cowles Company. It has also raised an undisclosed amount of debt.
The Series A round was led by WestCap, with participation from Cowles Company, Fortson VC, Voyager Capital, Kickstart Seed Fund, and W.T.B. Financial Corporation.
Other participants include Jim DuBois, former Microsoft chief information officer, and Clearwater analytics co-founder and principal Chris Growney.
