Stampli, a Mountain View, CA-based company which specializes in AI-powered accounts payable automation, raised $61M in Series D funding.
The round, which brought the total amount to over $148M, was led by funds managed by Blackstone, with participation from existing investors Insight Partners, SignalFire, Bloomberg Beta, and NextWorld Capital.
The company intends to use the funds to expand operations ands its business reach.
Led by CEO Eyal Feldman, Stampli provides an AP automation platform that brings together accounts payable communications, documentation, and payments in one place. By centering communications on top of the invoice itself, AP departments collaborate and communicate with approvers, vendors, and anyone involved with purchases, allowing approvals to happen fast. Its AI, Billy the Bot, learns an organization’s patterns to simplify GL and costing-related coding, automate approval and verification flows, identify duplicate invoices, and reduce time spent on manual data entry.
Stampli offers its implementation for more than 70 different ERPs, including systems from Sage, Oracle, Microsoft, QuickBooks, SAP, Acumatica, IBM and many others. Beyond Accounts Payable, Stampli offers an integrated suite of FinTech products, including Stampli Credit Card and Stampli Direct Pay.
Launched in 2015, the company serves 1,300 accounts payable automation customers.
