We are excited to share that today Stampli announced $25 million in Series B funding led by SignalFire, with participation from previous investors Hillsven Capital, Bloomberg Beta, and new investor NextWorld Capital.
This represents a major milestone in our company’s journey, and we’ll be using the new funding to help scale our operations, hire additional staff and expand our presence in other markets across the country. This announcement culminates our busiest year yet, having recently been named to the Leader Quadrant for both Best AP Automation Software on G2 Crowd and Tools for ERP for 2019.
We’re continuing to grow at an incredible pace and are now processing more than $12 billion in invoices annually, for nearly 700,000 vendors — up more than 4x from the start of 2018. With more than 1,900 unique entities and 40,000 professional users, Stampli is now the fastest-growing AP automation platform in the world.
“In a relatively short time, Stampli has not only created an incredible experience for AP teams, but also demonstrated growth unseen in this industry. Stampli is doing to invoice management what Google Docs did to word processing by incorporating collaboration at its core,” said Chris Farmer, founder and CEO of SignalFire.
See the full details of the announcement here.