Tipalti

Accounting, Accounts Payable, Enterprise
Artificial Intelligence Machine Learning

Business Overview

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.

Operating Status
Active
Founded
September 2010
Employees
350
Business model
B2B
Offering type
Software
Funding stage
Series E
Business stage
Launched
Revenue status
Revenue Generating
Total funding
$280 Million
Sectors
Accounting, Accounts Payable, Enterprise, Fintech, Invoice, Payments, Remittance

Founders

Tipalti
Chen Amit
CEO
Tipalti
Oren Zeev

Funding Rounds

Calculated as the average ratio between the current funding round amount raised and the previous funding round amount raised. Note that 'plus' rounds are summed together. i.e. Series A = Series A and Series A+.
Funding Growth Multiple
1.9x

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

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 types
Artificial Intelligence, Machine Learning
AI tasks
Optical Character Recognition

In The News

Tipalti Raises $150M Series E; Valued at More Than $2 Billion | FinSMEs

October 8, 2020

Israeli B2B fintech co Tipalti raises $150m | News – Globes

October 6, 2020

Former Twitter CEO gets in on $150M mega funding round for Israeli fintech Unicorn Tipalti | Geektime

October 6, 2020

Tipalti receives $150M at a $2B+ valuation after its accounts payable platform sees a surge in use | TechCrunch

October 6, 2020

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