Tipalti, an Agoura Hills, CA-based provider of a cloud pay-outs management automation platform, raised $13m Series B funding.
The round was led by Wicklow Capital.
The company intends to use the funds to grow sales and marketing, to invest in product development and R&D, and to expand its business to new verticals and markets.
Led by Chen Amit, CEO and co-founder, Tipalti provides a SaaS-based platform to automate the entire mass global payments operations process, allowing users to pay any vendor, partner, or customer across 190 countries while ensuring all tax and regulatory requirements are met. The solution serves companies with high volume, high complexity payables operations, such as advertising networks, affiliate networks, monetization, digital goods and services, ISPs, crowdsourcing, crowdfunding, and marketplaces.
Customers include Chartboost, TouchofModern, PulsePoint, Disqus, Matomy, A4D, MUNDOmedia, Perion Codefuel, ClickDealer, Infolinks, and Tapjoy.