Taulia Inc., a San Francisco, California-based cloud-based dynamic discounting solution provider in the SAP® space, has closed an $8.5m Series B round of funding.
The round was led by new investor DAG Ventures, with participation from existing backers Matrix Partners and Trinity Ventures.
The company intends to use the funding to expand marketing, sales and implementation teams in both Europe and the US, as well as to hire new engineers for product development.
Led by CEO Bertram Meyer, Taulia provides an invoicement suite that enables dynamic payment terms and on-demand payment acceleration for Fortune 500 companies’ suppliers, in return for additional discounts. For suppliers, the company provides a portal that offers the ability to accelerate invoice payment on-demand, thus eliminating the need for costly receivable financing or credit card borrowing.
In June, the company acquired cash-flow management company billFLO and retained its founder and CEO Ian Sweeney as vice president.