Tipalti, which automates accounts payable for mid-market businesses, revealed that it raised $270 million in a Series F fundraising round, valuing it at $8.3 billion. It is up from a $2 billion valuation when it raised $150 million in its Series E round in October 2020.
Tipalti helps organizations handle suppliers, invoices, purchase orders, tax compliance, payments and billing, and other accounting services using artificial intelligence from a single cloud platform. It claims to cut 80 percent of a company’s operational workload by paying partners and vendors within minutes.
“I think the market has a proper appreciation for the size of market opportunity we’re facing. Our multiples over the last 12 months have increased because of that new appreciation”Chen Amit, CEO, and co-founder of Tipalti
In addition to current investors Zeev Ventures, Durable Capital Partners, 01 Advisors, and others, G Squared led Tipalti’s latest round, which includes “substantial” investments from new backers Marshall Wace as funds and accounts administered by Counterpoint Global (Morgan Stanley).