Zip, a San Francisco, CA-based provider of an AI-powered procurement orchestration platform, raised $190M in Series D funding at a $2.2B valuation.
The round was led by BOND, with participation from DST Global, Adams Street, and Alkeon, along with existing investors Y Combinator and CRV.
The company intends to use the funds to:
- Accelerate R&D efforts.
- Establish the Zip AI Lab.
- Broaden global expansion.
Led by CEO Rujul Zaparde, Zip is a provider of a procurement orchestration platform, empowering businesses to accelerate the procurement process, mitigate risk, and drive growth by offering a single dashboard to unify the teams, tasks, and tools involved in working with suppliers. With it, businesses can maximize employee adoption of purchasing policies and increase spend visibility and control.
As a solution for optimizing business spend, Zip’s AI-powered platform is used by enterprises worldwide, including Anthropic, Arm, Canva, Coinbase, Discover, Dollar Tree, Instacart, Lyft, Northwestern Mutual, Prudential, Reddit, Sephora, Snowflake, and Sprouts.
FinSMEs
21/10/2024