Tipalti Secures $76 Million Through Series D Funding Round to Accelerate Global Payables Automation

Global payables platform Tipalti announced on Tuesday it secured an additional $76 million through its Series D funding round, which was led by Zeev Ventures with participation from 01 Advisors (a fund founded by Twitter’s former CEO and COO) and Greenspring Associates.

Tipalti reported it will use this additional funding to continue to set the pace for innovation in the payables automation space and solidify itself as the leading solution for fast-growing and mid-sized companies across the globe. The company will also fuel its growth through increased developer, customer success, sales, and business development headcount, marketing investments while adding new offices in North America and Europe.

While sharing more details about the investment round, Chen Amit, CEO and Co-founder of Tipalti, stated:

“As companies mature and growth accelerates, manual accounts payable processes are no longer an option. This is where Tipalti comes in and this new round of investment will help us widen our innovation edge as the pace-setter in the payables automation space.”

Tipalti then added that in the first half of 2019, it had more than doubled new customer and business bookings and surpassed $8 billion in annual transactions, while maintaining a 98% customer satisfaction rating. The company added:

“Tipalti’s payables automation technology is aimed at fast-growing mid-market companies, who have traditionally been underserved by banks. Leveling the playing field, the solution provides them with the ability to scale efficiently and rapidly, accessing the services that are otherwise only available to large enterprises. Tipalti streamlines and optimizes businesses’ end-to-end global payables workflow, while giving these companies access to cross border payments, currency conversion, and payments across a wide range of methods.”

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