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Glantus acquires Technology Insight Corp (TIC) in AP analytics move
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Stampli, an accounts payable (AP) automation provider, secured a $50 million round of funding, according to the website PYMNTS.com. Insight Partners led the arrangement.
The Stampli AP automation system handles the end-to-end invoice workflow by putting invoice-connected communications, paperwork and history into one place. It offers a “collaborative workspace” for AP workforces in addition to approvers, PYMNTS.com said. This latest round of funding brings the total funding to more than $87 million for Stampli, which began in Israel and also operates out of Mountain View, California. The $50 million raise confirms the excitement and growth surrounding the AP automation market, which includes B2B payments,” Spend Matters’ Founder Jason Busch said. “For many, AP is a Trojan horse to get to payments, but generally for businesses beyond $25 million to $50 million in revenue, there is significant value to automating the AP process alone. Stampli focuse