We’re very happy to announce Stampli’s recent $50 Million Series C raise. Insight Partners led the deal and joins SignalFire, NextWorld Capital, UpWest, Hillsven, Bloomberg and Naver to bring Stampli’s total funding raise to over $87M.
Stampli solves one of the most pervasive problems that plague CFOs in today’s fast-paced technology and data-driven businesses — manual accounts payable operations. Finance leaders know they need to automate where possible so knowledge workers can provide maximum value and productivity. Combined with a groundbreaking fast implementation, the Stampli AP Automation and collaboration platform makes it easy for AP teams to work with the rest of the organization to allocate cost properly, verify invoice terms and receiving status, obtain approvals, and pay invoices.
Managing manual AP processes is inefficient and frustrating for AP teams, their approvers and the vendors that need to be paid. While paying vendors on time is the end goal, confirming which invoices should be paid and when is one of the most critical responsibilities of accounts payable. While other AP vendors focus on maximizing payment fees, Stampli addresses the entire invoice process by centralizing all invoice-related communications, documentation, and history and providing a collaborative workspace for accounts payable teams and approvers to make smarter, faster invoice and payment decisions.
As Stampli’s co-founder and CEO, Eyal Feldman, shared: “In 2021, building a digital-first, modern finance organization is the top priority for CFOs and controllers. As CFOs take on more strategic responsibilities for the organization, the importance of digital transformation and collaboration across business processes, such as AP, has been raised to new levels. Finance executives know that to keep business moving forward, automating paper-based and manual accounts payable processes is essential in the modern, global business environment.”
Currently Stampli AP Automation software processes over $20 billion invoices annually and was recently named a Top 50 Most Promising Startup in Israel. In the last year, Stampli was also named a leader in G2 Grid® for AP Automation for the 7th consecutive quarter; awarded The Best AP Solution from FinTech Breakthrough Awards for 2021; and named The Best AP Automation Company in the USA from New World Report.