Nipendo, a Boston, Massachusetts- and Netanya, Israel-based developer of a cloud-based, supplier trading solution, closed an $8m Series B funding.
The round was led by Horizons Ventures, with participation from previous investor Magma Venture Partners. In conjunction with the funding, Gilad Novik, Chief Technology Officer of Horizons Ventures, joined the company’s board of directors.
Nipendo intends to use the capital to scale its business operations and expand to the U.S.
Led by Eyal Rosenberg, co-founder and CEO, Nipendo provides a scalable, cloud-based network that enables enterprise-level organizations to collaborate with trading partners and automate the entire PO-to-payment lifecycle – from order receipt to shipping/receiving, tracking through electronic invoices.
Nipendo is used by companies and organizations across several industries, including high tech, defense, healthcare, telecommunications, pharmaceutical, banking, and food and beverage.
Customers include Pfizer, HP, Lilly, IBM, Office Depot and Teva.