US-based accounts payable (AP) automation platform Stampli has raised a USD 25 million in Series B funding.
The round was led by SignalFire, with participation from existing investors Hillsven Capital, Bloomberg Beta, and new investor NextWorld Capital. With the recent capital injection, the company’s total raised capital to date has escalated to USD 32 million. It plans to use the new funds to support its expansion and product innovation.
Stampli is currently processing more than USD 12 billion in invoices annually. More than 1,900 business entities and 40,000 users use Stampli to centrally collaborate their invoice activities and automate their approval workflows, according to a statement. Leveraging the company’s expertise, AP teams can have complete control over the procure to pay process. Stampli turns each invoice into a central communications hub allowing all parties and systems to communicate in one place. It uses its AI to recognise patterns and learn how each organisation allocates cost, manages approval flows and extracts invoice data.
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