Tipalti, a Palo Alto, Calif.-based provider of the supplier payments automation platform, raised $14m in funding.
The round was led by SGVC. In conjunction with the funding, Dovi Frances, Managing Partner SGVC, will be joining the board of directors of Tipalti.
The company intends to use the funds to invest in product development, R&D and customer support.
Led by Chen Amit, CEO and co-founder, and Steve Sovik, Chief Revenue Officer, Tipalti provides a supplier payments automation solution streamlining all phases of the payment workflow from payee onboarding and vetting, tax and regulatory compliance, invoice processing, payments to suppliers anywhere in the world in a wide range of payment methods and currencies, proactive supplier payment status communications, to enterprise-grade financial controls, payee and tax reporting, and real-time payment reconciliation.
Customers include GoDaddy, Disqus, GoPro, Zumba, Touch of Modern, Eventbrite, Vimeo and hundreds of others.