Payment Automation Startup Tipalti Raises $30 Million
Tipalti operates a cloud-based payables automation platform that had already processes over $4 billion in transactions annually and counts Amazon, GoDaddy, and Twitter among its clients
Tipalti, a payment automation startup, announced Tuesday it had completed a $30 million Series C investment round led by Zeev Ventures, LLC. This round brings Tipalti’s total funding to over $50 million.
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Founded in 2010 and based in San Mateo, California and the central Israel coastal town of Herzliya, Tipalti operates a cloud-based payables automation platform that processes over $4 billion in transactions annually and counts Amazon, GoDaddy, and Twitter among its clients.
“By modernizing the finance operation, we typically automate 80% of an organization’s account payable and cross-border payments workload, freeing the finance team to focus on mission-critical initiatives, such as scaling their business globally and improving their company’s competitiveness and profitability,” Chen Amit, CEO and Co-founder of Tipalti, said in a statement.
“Organizations should not be running finance operations manually, but rather automate this workflow to reduce short and long-term risk and costs and ultimately free resources for high-value initiatives,” Oren Zeev, the Founding Partner of Zeev Ventures and Chairman and Co-founder of Tipalti, said in a statement. “Tipalti is extremely well positioned to take advantage of this movement.”