Tipalti, a payables automation platform, has scored $76m in its Series D round which will support the launch of new offices in North America and Europe.
Zeev Ventures led the round, with 01 Advisors and Greenspring Associates also contributing to the round. Group 11 also joined the series with a follow-on investment.
With this new equity, the company will look to continue its growth by increased developer, customer success sales, and business development headcounts. It will also add new offices in North America and Europe.
The company offers payables automation services for mid-market companies which have been undeserved by banks. The solution gives customers the ability to optimize their end-to-end global payables. Services include supplier management, tax compliance, invoice management, global payouts, and self-billing, and more.
This capital injection comes after a period of strong growth for Tipalti. In the first half of 2019, the company more than doubled its new customer and business bookings and surpassed $8bn in annual transactions.
Zeev Ventures founding partner Oren Zeev said, “It’s well-established that accounts payable is the number one most time-consuming and laborious function in finance today, and for fast-growing businesses, manual AP can impede growth and scalability.
“Tipalti has always been ahead of the innovation curve and this additional funding will allow it to advance its vision of transforming AP and financial operations and making it a ubiquitous solution.”
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