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Tipalti Accelerates Steep Growth Trajectory, Surpassing $5 Billion in Annual Transactions and 3 Million Suppliers on Payables Platform

August 21, 2018

SAN MATEO, Calif.--(BUSINESS WIRE)--Aug 21, 2018--Tipalti, the leading global payables automation platform, today announced that it has surpassed $5 billion in annual transactions, with over 3 million suppliers onboarded on the platform. These milestones came as Tipalti more than doubled new business bookings in Q2 2018 versus Q2 2017 and became licensed as a Money Transmitter in every state in which it’s required.

Tipalti’s momentum has been further bolstered through its recognition as an Inc. 5000 company ranking #1559 on the list and the crucial hire of Sarah Dickens Spoja as CFO. A veteran of the financial industry, Sarah has joined Tipalti from KKR Capstone where she worked with portfolio companies in the Financial Services and Retail Sectors, including First Data Corporation and Academy Sports + Outdoors. During her 4 years at First Data Corporation, Sarah was pivotal in the acquisition of Clover Network Inc., a mobile POS merchant processing solution, and helping to scale the start-up and commercialize the product through First Data’s major bank of relationships in the US. Prior to joining KKR, Sarah worked at Bain & Company in Boston and Sydney. She holds a B.A. from Williams College in both Mathematics and Economics and an M.B.A. from Stanford University Graduate School of Business.

“We’re thrilled to have Sarah join our team during an extremely exciting time for the business,” said Chen Amit, CEO and co-founder of Tipalti. “Her deep finance and operational expertise and knowledge of scaling companies will be crucial for us as we continue making fast headway toward our mission of freeing finance from manual payables operations, so that CFOs can focus finance on driving strategic impact for their businesses. We’ve only just started to scratch the surface of this $90 billion global market and our dedication to transforming AP will continue to fuel our ongoing success.”

During this period of rapid growth, including Tipalti’s most recent $30 million Series C round of funding in February, the fintech provider has also moved into a new office space in San Mateo to accommodate the expanding team. The new space almost doubles that square footage of the previous office and maintains Tipalti’s enjoyable work culture, evidenced by its recognition earlier this year by the San Francisco Business Times and the Silicon Valley Business Journal as a “2018 Bay Area Best Places to Work”. The winners were rated the highest by their employees in such areas as fun, collaborative culture, compensation, benefits and other amenities as well as management practices.

For more information, visit https://tipalti.com.

About Tipalti:

Tipalti is the only payables automation solution to streamline all phases of the accounts payable workflow in one holistic cloud platform. Tipalti makes it painless for finance departments to manage their entire AP and supplier payments operation. Leading companies use Tipalti to eliminate up to 80% of their supplier payments workload, helping them scale their business efficiently with global growth, while strengthening financial and tax compliance controls. Hundreds of companies trust Tipalti to transform their supplier payment operations including Amazon, Roku, Zumba, Docker, Twitter, GoDaddy, and Vimeo.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180821005075/en/

CONTACT: For Tipalti

Rene Musech, 415-610-7500

tipalti@brands2life.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET NETWORKS SOFTWARE PROFESSIONAL SERVICES ACCOUNTING BANKING HUMAN RESOURCES

SOURCE: Tipalti

Copyright Business Wire 2018.

PUB: 08/21/2018 08:00 AM/DISC: 08/21/2018 08:01 AM

http://www.businesswire.com/news/home/20180821005075/en

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