Digital invoice management platform Stampli has raised a $6.7m Series A round led by SignalFire.
Participation to the round also came from Bloomberg Beta, Hillsven Capital, and UpWest Labs.
Founded in 2015, Stampli is a cloud-based interactive invoice management solution which streamlines the accounts payable process. Its AI technology translates all invoices into an interactive landing page which allows approvers to communicate directly on the invoice.
The platform can integrate with a business’ existing ERP software and the AI will automatically alert the necessary person when an invoice is received.
With this equity injection, Stampli hopes to further the scaling of its business which has seen a 20 per cent monthly growth.
SignalFire founder and CEO Chris Farmer said, “Stampli is bringing a fresh approach and intelligence to a mundane but critical area of financial operations. Invoice management has been often overlooked and has seen little innovation which has created a massive opportunity for Stampli to significantly improve and optimize the customer experience.”
Last year, SignalFire took part in the $40m Series B funding round of mobile identity scoring app Juvo. The company partners with mobile operators and financial institutions and uses credit algorithms to identify previously anonymous prepaid subscribers and build them financial identities.
Fellow e-invoicing solution CloudeTrade recently closed its own round of funding, securing £2m in its seed round. The investment was led by Calculus Capital and is being used to accelerate the expansion of its services in the US and EMEA.
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