B2B payments workflow automation solution Tipalti has secured $30m in a Series C round led by Zeev Ventures.
California-based Tipalti is a global payables automation solution that helps to streamline payments workflows in a single cloud platform. The technology can help with supplier onboarding and vetting, tax and regulatory compliance, invoice management, cross-border payments, fraud detection, AP reporting and payment reconciliation, among others.
The company processes over $4bn in transactions annually across two million suppliers. Some of the company’s clients include Amazon, Roku, GoPro, Twitter, and GoDaddy.
Capital from the round will be used to increase the company’s innovation and boost its position in the market.
Tipalti CEO and co-founder Chen Amit said, “Tipalti’s near-perfect record of customer satisfaction and retention rates throughout our history are emblematic of how much value our service generates for our clients.
“By modernizing the finance operation, we typically automate 80% of an organization’s AP and cross-border payments workload, freeing the finance team to focus on mission-critical initiatives, such as scaling their business globally and improving their company’s competitiveness and profitability.”
This Series C brings Tipalti’s total funding to more than $50m, with the company bagging a $14m investment in 2016. The previous investment was led by SGVC and was raised to support its expansion into invoice payments.
Last year, Zeev Ventures made a selection of investments in the FinTech space. The firm contributed $3m to real estate brokerage platform Reali, and took part in the $40m funding in to HomeLight, an online real estate marketplace.
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