Cherry

What Cherry does

Cherry (legal entity Cherry Net, Inc., formerly Shtar, LLC) is a U.S.-based B2B payment automation platform that automates accounts payable for skilled nursing facilities, nursing homes, and healthcare administration companies. Founded in 2018 and headquartered in Brooklyn, the company reincorporated in Delaware in 2022 as it scaled from initial QuickBooks connectivity to a multi-ERP platform. Its product connects operators' accounting and ERP systems to payment rails (ACH, virtual cards, checks, RTP, wire), handling invoice capture, configurable approval workflows, disbursement via the trademarked vCheck virtual check and other rails, automated reconciliation, and vendor communication. Cherry achieved PCI DSS Level 1, HIPAA, and SOC 2 compliance in 2021, which serve as a regulatory moat within healthcare AP and supported its positioning with healthcare operators.

Cherry monetizes through three streams: per-transaction processing fees on payments, recurring service/subscription fees under multi-year enterprise contracts, and a factoring capability that purchases accounts receivable claims at a discount for immediate cash flow to operators. Pricing is quote-based and tailored through dedicated sales representatives, with onboarding typically completed within a week. Go-to-market is enterprise sales-led, supported by direct demo booking via HubSpot and a content-and-case-study marketing footprint rather than resellers or channels. Named customers include LTC, Curis, Marquis, Summation, Care Rite, LTC Ally, Cedarbridge Financial Services, and Curis Services, all operating in skilled nursing. The platform is integrated with QuickBooks, NetSuite, SAP, Sage Intacct, Microsoft Dynamics, Workday, Acumatica, Oracle NetSuite, Yardi, PointClickCare, and Reliable Health System, and runs on AWS.

As of the most recent disclosed figures, Cherry processes over $4 billion in annual transaction volume across thousands of customers and is venture-backed by NFX, which led a $4 million seed round in November 2022. The company employs 11-50 people and is led by co-founders Zelig Rosenthal (CEO) and Moshe Teitelbaum. In 2024, Cherry publicly announced plans to extend beyond skilled nursing into media, educational institutions, and hospitality, alongside development of new features including VBill (invoice management) and budget management, signaling a horizontal platform expansion.

Name

Cherry

Legal name

Cherry Net, Inc.

Website

https://cherrynet.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Cherry is a U.S. B2B payment automation platform that automates accounts payable for skilled nursing facilities and healthcare administrators by connecting major ERP and accounting systems to ACH, virtual card, and check payment rails, processing over $4 billion annually.

Ownership category

akta.pro rank

Product category

Accounts Payable Automation Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Accounts Payable Automation & Supplier Payments (FSAGAJAD)

akta.pro secondary industries

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF), Corporate Treasury & Supplier Payments (AP, Mass Payments) (FSAMAKAL), A2A Payouts & Disbursements (FSAMAFAG)

Keywords

• B2B payment automation
• Accounts payable software
• Healthcare payment processing
• ERP payment integration
• Vendor payment management

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Payment Processing Fees: Fees charged per transaction for processing payments via ACH, virtual cards, RTP, wire, and other payment methods. Based on transaction volume.
2. Subscription/Service Fees: Service fees for access to the Cherry platform, including automated reconciliation, payment approvals, and integration capabilities. Pricing is quote-based and tailored to customer needs.
3. Factoring Service: Cherry purchases accounts receivable claims from merchants at a discount, providing immediate cash flow. The fee is deducted from the claim amount.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Cherry operates a B2B payment automation platform that automates accounts payable for skilled nursing facilities and nursing homes, from invoice capture through disbursement via ACH, virtual cards, checks, RTP, and wire. The platform bidirectionally syncs with major ERPs and accounting systems, automates reconciliation and approval workflows, and offers a proprietary vCheck virtual check, with PCI DSS Level 1, HIPAA, and SOC 2 compliance built in.

Product overview

Cherry offers a unified accounts payable automation platform designed specifically for skilled nursing facilities and nursing homes. The core Cherry platform serves as the central hub for managing invoices and payments, processing over $4 billion annually. The platform comprises interconnected modules including Automated Reconciliation (matches transactions and identifies discrepancies), Automated Payments (handles disbursement via ACH, virtual cards, checks), and Streamlined Approvals (configurable approval workflows). The vCheck virtual check feature enables electronic check generation and approval, while Transaction Data Sync provides bidirectional real-time syncing with connected ERP/accounting systems including QuickBooks, NetSuite, SAP, Sage Intacct, Microsoft Dynamics, Workday, Acumatica, Yardi, PointClickCare, and Reliable Health System.

Differentiator

Problem solved

Functional benefit

Products and services

• Cherry B2B Payment Automation Platform B2B accounts payable automation platform that handles the full bill-to-payment workflow for skilled nursing facilities and nursing homes, including invoice management, multi-rail payment disbursement (ACH, virtual cards, RTP, wire, checks), automated reconciliation, configurable approval workflows, and bidirectional ERP/accounting sync with PCI DSS Level 1, HIPAA, and SOC 2 compliance.

Quantifiable outcome

• Processes over $4 billion in payments annually
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core.

• QuickBookscoreTechnology or IntegrationQuickBooks integration allows Cherry to sync transaction data including invoices, payments, and reconciliations directly from QuickBooks accounting software.
• NetSuitecoreTechnology or IntegrationNetSuite integration enables bidirectional syncing of financial data between NetSuite ERP and the Cherry payment platform.
• SAPcoreTechnology or IntegrationSAP integration allows enterprise customers to sync payment data and automate accounts payable workflows with SAP ERP systems.
• WorkdaycoreTechnology or IntegrationWorkday integration enables financial data synchronization for customers using Workday for financial management.
• AcumaticacoreTechnology or IntegrationAcumatica cloud ERP integration allows real-time payment automation and data syncing with Cherry's platform.
• Sage IntacctcoreTechnology or IntegrationSage Intacct integration provides automated payment workflows and transaction syncing for Sage customers.
• Microsoft DynamicscoreTechnology or IntegrationMicrosoft Dynamics integration (including Dynamics 365) enables payment automation and financial data synchronization.
• YardicoreTechnology or IntegrationYardi integration supports real estate and property management financial data syncing for customers in the healthcare sector.
• Oracle NetSuitecoreTechnology or IntegrationOracle NetSuite ERP integration enables bidirectional syncing of financial data and automated payment processing.
• PointClickCarecoreTechnology or IntegrationPointClickCare integration supports healthcare administrative workflows and financial data syncing for skilled nursing facilities.
• Amazon Web Services (AWS)coreTechnology or IntegrationAWS provides the cloud infrastructure hosting for Cherry's platform. AWS leads the market in infrastructure security, supporting Cherry's compliance requirements.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• AvidXchange: AvidXchange automates AP and payment processing for mid-market and enterprise customers across multiple verticals including real estate, HOA, and healthcare. It shares Cherry's core AP automation + supplier payment model and serves healthcare customers, making it a strong direct peer.
• Brex: Brex is a B2B payments and corporate card platform with a growing bill pay and AP automation product. It is a direct competitor to Cherry in B2B payment processing, particularly for mid-market and enterprise customers.
• Tipalti: Tipalti provides AP automation, mass payouts, and global supplier payments for mid-market and enterprise businesses. It directly competes with Cherry's AP automation and supplier payments functionality and overlaps on ERP integration breadth.
• Bill.com: Bill.com is a leading B2B accounts payable and accounts receivable automation platform serving SMB and mid-market customers. It is the closest direct competitor to Cherry, offering AP automation, vendor payments via ACH/check/card, and ERP integrations — overlapping significantly with Cherry's core offering, though Bill.com is horizontal rather than SNF-focused.
• HighRadius: HighRadius offers AI-powered order-to-cash, treasury, and AP automation for enterprise customers. It is a direct competitor to Cherry in the AP automation space, particularly for larger enterprise customers with complex multi-entity needs.
• Stampli: Stampli is an AP automation platform with AI-powered invoice capture, approval workflows, and payments via ACH/card/check. It is a direct competitor to Cherry in the AP automation space, with similar mid-market and enterprise focus.
• Ramp: Ramp is a corporate card and spend management platform that has expanded aggressively into bill pay and AP automation. While broader than Cherry, Ramp is a direct competitor in the B2B payments and automated AP space and is rapidly encroaching on Cherry's territory.
• Versapay: Versapay provides AP and AR automation for mid-market and enterprise B2B businesses. It competes with Cherry in the AP automation space, particularly through its collaborative invoicing and payment network approach.
• Melio: Melio is a B2B payments platform focused on SMBs and accountants, offering bill pay, ACH, and card payments integrated with QuickBooks and other accounting software. It directly overlaps with Cherry's B2B payment automation and QuickBooks integration.

Broad incumbents

• Waystar: Waystar is a large healthcare-specific payments and revenue cycle management platform serving hospitals and health systems. While broader than Cherry and focused on patient payments and RCM rather than vendor AP, it shares Cherry's healthcare vertical focus and is a relevant comparable for vertical healthcare payments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cherrynethq
• Facebookfacebook.com/cherrynethq

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cherry