Tabs, a NYC-based provider of an accounts receivable (AR) platform for B2B businesses, raised $7M in Seed funding.
The round was led by Lightspeed Venture Partners.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Ali Hussain, Tabs is an AI-powered accounts receivable platform for B2B businesses. Using AI, Tabs is able to understand and extract elements from even the most complex B2B contracts and then power an automated AR process from contract-to-cash.
At the core of the company’s solution is Tabs AI, a proprietary platform built to understand and extract B2B contractual elements. Using this information, Tabs then automates contract ingestion, invoicing, and payments, streamlining a company’s accounting process. Customers such as Findigs, Pinata, and Inspiren report a reduction in time to collect, mainly driven by avoiding manual work associated with calculating invoices. This also enables them to take advantage of market opportunities with pricing changes, usage models, and greater sales flexibility.
FinSMEs
11/04/2024