Tipalti, an AI-powered finance automation platform, has secured a significant $200 million in growth financing from Hercules Capital, Inc. The funding will be used to accelerate the company’s investment in artificial intelligence and product innovation while supporting its global growth. This announcement comes as Tipalti unveils new, more powerful updates to its AI platform, Tipalti AI, with an enhanced focus on intelligent, context-aware AI agents.
Tipalti secured $200 million in growth financing from Hercules Capital, Inc.
The funding will be used to accelerate AI and product innovation, and support global growth.
The company unveiled new updates to Tipalti AI, focusing on context-aware AI agents.
New AI agents are designed to automate repetitive tasks and provide deeper insights.
Tipalti has surpassed $200 million in annual recurring revenue (ARR) and has a 30% YoY customer base growth.
The platform processes $75 billion in annualized payment volume for over 5,000 global companies.
Tipalti's updated platform features practical AI agents designed to automate key tasks and deliver valuable insights, allowing finance teams to focus on strategic priorities. These agents work in harmony with the platform’s existing financial and regulatory controls. The new AI agents include a Reporting Agent for instant report generation via natural language, a Tax Form Scan Agent to automate supplier onboarding, a Purchase Request Agent to expedite intake, and a Branded Experience Agent for seamless payee onboarding. The platform also features an enhanced Tipalti AI Assistant that serves as a collaborative conversational partner, streamlining complex workflows and providing instant answers.
"Tipalti's AI capabilities have streamlined our operations tenfold. With invoice capture and real-time reporting, my team has complete visibility into approvals, coding history, and potential errors," said Kanan Mammadov, VP of Procurement at Lantern Community Services. "I can now generate reports instantly, clearly see approval workflows, and trust that the data is accurate every time."
The new financing builds on a period of strong performance for Tipalti. The company recently exceeded $200 million in annual recurring revenue (ARR) and has grown its customer base by 30% year-over-year. Tipalti’s platform is trusted by more than 5,000 global companies and processes an impressive $75 billion in annualized payment volume. The company's continued growth and innovation are a testament to the increasing global demand for finance operations efficiency.
"Crossing over the $200M ARR threshold is a testament to both the value we deliver to our customers and the growing urgency for finance operations efficiency globally," said Chen Amit, CEO and Co-founder of Tipalti. "Our market opportunity is immense. As an innovation leader, we are building for long-term impact as we redefine what's possible for modern businesses through AI."
Tipalti is the AI-powered platform for finance automation, elevating how finance teams operate in the global economy. We empower our customers to scale faster and smarter by removing the complexities of doing global business and accelerating their finance operations efficiency. Our platform provides a comprehensive suite of finance automation solutions designed for mid-market businesses, across accounts payable, global payouts, procurement, employee expenses, corporate cards, supplier management, tax compliance, and treasury. Tipalti partners with leading financial institutions such as Citi, Wells Fargo, J.P. Morgan and Visa, enabling over 5,000 global companies to efficiently and securely pay millions of suppliers and payees across 200+ countries and territories, in 120 currencies.
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