Tipalti, a Foster City, CA-based global payables automation platform, raised $150m in incremental growth financing.
Backers included JPMorgan Chase Bank and Hercules Capital, Inc. (NYSE: HTGC). Following a $270m Series F in 2021, this latest raise brought the total funding to over $550m.
The company intends to use the funds to further invest in product innovation and supporting its customers.
Tipalti handles both Global Partner Payments and Accounts Payable workflows for growth companies across the entire financial operations cycle: onboarding and managing global suppliers, instituting procurement controls, streamlining invoice processing and approvals, executing payments around the world and reconciling payables data across a multi-subsidiary finance organization. Companies can efficiently and securely pay thousands of partners and suppliers in 196 countries within minutes. Thousands of companies, such as Amazon Twitch, GoDaddy, Roku, WordPress.com, and ZipRecruiter use it to reduce operational workload and accelerate the financial close, while strengthening financial and spend controls.
Tipalti also announced that three new executives have joined its C-suite including:
- Perla Stoeckert, Chief Compliance Officer,
- Alice Davidson, General Counsel, and
- Des Cahill, Chief Marketing Officer.
FinSMEs
15/05/2023