Tipalti, one of our partners and a provider of holistic Accounts Payable automation technology, last week announced a $14 million funding round led by SGVC. “Thanks to this new funding round, we will expand our product, team and business to increase our market leadership position as the supplier payments automation solution of choice for finance organizations at global enterprises,” said Chen Amit, CEO and co-founder of Tipalti.

According to the press release, this funding will allow Tipalti to “aggressively accelerate” growth, adding yet another milestone to the company’s impressive recent growth trajectory. In 2015, Tipalti grew 200% YOY while maintaining 99% customer retention and reaching a record $2 billion in annual payment remittance.

Additionally, Dovi Frances of SGVC is to join the board of directors of Tipalti, the first non-founder of the company to do so. “We look forward to Dovi Frances joining our board of directors and contributing with his extensive experience in the Fintech world,” Amit said. Congratulations Tipalti! You can view the full press release here.

 

 

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