Business Overview

Sep 2010
Date Founded
Active
Operating Status
Revenue Generating
Revenue Stage
B2B
Business Model
350
Employees

Tipalti is the only supplier payments automation solution to streamline all phases of the AP and payment management workflow in one holistic cloud platform. Tipalti makes it painless for accounts payable departments to manage their entire supplier payments operation. The solution addresses everything from supplier onboarding and vetting, to tax and regulatory compliance, invoice processing, payments to suppliers anywhere in the world in a wide range of payment methods and currencies, supplier payment status communications, to closing the loop with payment reconciliation and reporting.Innovative companies use Tipalti to eliminate up to 80% of their supplier payment workload, helping them scale their business efficiently with global growth, while strengthening financial and compliance controls and while enhancing the partner payment experience. Companies like GoDaddy, Houzz, Amazon Twitch, and Vimeo and hundreds of others trust Tipalti to elevate their global supplier payments operation.

Business Stage
Launched

Founders

Tipalti
Chen Amit
CEO
Tipalti
Oren Zeev

Funding Rounds

$280 M

Total Funding

5

Funding Rounds
1.87x
Funding Growth

New wpDataTable

Date Announced

Funding Round

Amount Raised

Investors

October 2020
Series E
$150 M
September 2019
Series D
$76 M
February 2018
Series C
$30 M

Exit Events and Acquisitions

Date Announced

Transaction

Consideration

Target

Acquirer

April 2021
Acquisition
$40 M
Approve.com
Tipalti

AI Technology Stack

AI Description

Once an invoice is added to Tipalti, the optical character recognition (OCR) technology supporting the Touchless Invoice Data Capture capability eliminates the need for manual processing. If the invoices scanned through OCR aren’t a 100% match, an escalation layer provided by Tipalti automatically routes the invoices to a managed service that manually reviews invoices, checks fields for accuracy and populates any missing fields. Machine learning of past invoice history enables OCR match rates to improve over time. This ensures invoice data capture remains completely touchless for the AP team while also assuring processing accuracy.

Tipalti can collect incoming invoices, extract the key financial details with the help of machine learning models and input the data into a company’s enterprise resource planning system. The processed invoice is then sent to the finance team for approval.

AI Tasks
Optical Character Recognition

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Startup Snapshot

Operating Status
Active
Total Funding
$280 Million
Founded
September 2010
Funding Stage
Series E
Time Since Last Funding Round
8 months
Valuation (Post-Money)
As of October 2020
$2000 Million

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