Tipalti, a San Mateo, CA–based global payables automation solution provider, closed a $30m Series C financing.
The round, which brings total funding to over $50m, was led by Zeev Ventures.
The company will use the funds to continue to expand operations and develop the platform.
Led by Chen Amit, CEO and Co-founder, Tipalti provides a cloud-based payables automation platform for CFOs to scale payable operations for global growth by eliminating the risks and inefficiencies caused by complex, manual legacy accounts payable processes. The solution institutes best practices across the entire AP workflow, encompassing supplier onboarding and vetting, tax and regulatory compliance, touchless invoice management, cross-border payments, early payments, fraud detection, supplier payment status communications, payment reconciliation, and AP reporting.
Tipalti already processes over $4 billion in transactions annually across almost 2 million global suppliers.
The company, which is also led by Oren Zeev, the Founding Partner of Zeev Ventures and Chairman and Co-founder of Tipalti, serves high-growth companies including Amazon, Roku, GoPro, Twitter, and GoDaddy.