Cherry
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.
- Company typePrivate
- Founded2018
- HeadquartersBrooklyn, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
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.
Cherry firmographics
Firmographics- 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
Cherry industry classification
Industry- 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
Where Cherry is headquartered
LocationHeadquarters
- HQ city
- Brooklyn
- HQ country
- United States
- HQ region
- North America
Markets served
Cherry business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Payment Processing Fees: Fees charged per transaction for processing payments via ACH, virtual cards, RTP, wire, and other payment methods. Based on transaction volume.
- 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.
- 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
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom Enterprise Pricing |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Cherry product offering
Product offeringCore 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
Companies that use Cherry
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles2 records
Cherry technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature3 records
Cherry partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core.
- QuickBookscoreQuickBooks integration allows Cherry to sync transaction data including invoices, payments, and reconciliations directly from QuickBooks accounting software.
- NetSuitecoreNetSuite integration enables bidirectional syncing of financial data between NetSuite ERP and the Cherry payment platform.
- SAPcoreSAP integration allows enterprise customers to sync payment data and automate accounts payable workflows with SAP ERP systems.
- WorkdaycoreWorkday integration enables financial data synchronization for customers using Workday for financial management.
- AcumaticacoreAcumatica cloud ERP integration allows real-time payment automation and data syncing with Cherry's platform.
- Sage IntacctcoreSage Intacct integration provides automated payment workflows and transaction syncing for Sage customers.
- Microsoft DynamicscoreMicrosoft Dynamics integration (including Dynamics 365) enables payment automation and financial data synchronization.
- YardicoreYardi integration supports real estate and property management financial data syncing for customers in the healthcare sector.
- Oracle NetSuitecoreOracle NetSuite ERP integration enables bidirectional syncing of financial data and automated payment processing.
- PointClickCarecorePointClickCare integration supports healthcare administrative workflows and financial data syncing for skilled nursing facilities.
- Amazon Web Services (AWS)coreAWS 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
Cherry competitors and assessment
Company assessmentDirect 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
Cherry social profiles
Digital presenceCherry compliance and trust
Trust signalCompliance3 records
Cherry financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cherry leadership team
Management profileNumber of profiles
Profiles2 records
Cherry funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cherry M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cherry
What does Cherry do?
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.
Is Cherry a public or private company?
Cherry is a private company. It is classified as venture growth investor backed and is currently operating.
When was Cherry founded?
Cherry was founded in 2018. It employs 11 to 50 people.
Where is Cherry based?
Cherry is headquartered in Brooklyn, United States, in the North America region.
How does Cherry make money?
Three revenue lines are on record. Payment Processing Fees are the primary driver. The others are subscription/Service Fees and factoring Service.
Who are Cherry's main competitors?
Direct peers on record are AvidXchange, Brex, Tipalti, Bill.com, HighRadius, Stampli, Ramp, Versapay and Melio. Waystar is listed as a broad incumbent.
Does Cherry have an API?
Yes. Cherry provides a public API accessible through published software libraries and application programming interfaces (the API) that can be used to access the Services. API keys (both publishable and secret keys for live and test Transactions) are available through the Dashboard. Developers can use the API to initiate, review, approve and make Payments to vendors, access transaction data, manage Cherry Account features, and connect with Financial Institutions and other service providers. The API is subject to terms described in the Documentation and may be updated with new functionality added or removed upon notice.
What industry is Cherry in?
Cherry's product category is Accounts Payable Automation Software. Its primary akta.pro industry code is FSAGAJAD, Accounts Payable Automation & Supplier Payments, with a secondary code of BPAMAFAF, Bill Pay, Invoicing & Payables Platforms. Its NAICS code is 522320.