Stampli Secures $25 Million to Expand AI-Powered Invoice Management
Mountain View-based Stampli raises a $25 million Series B round to grow its collaborative, AI-driven invoice management platform. The software connects departments to streamline the procure-to-pay process without forcing companies to change their payment providers.
Stampli raises $25 million in a Series B funding round led by SignalFire to expand its AI-powered invoice management platform. The Mountain View-based company processes over $12 billion in invoices annually for more than 1,900 businesses. This new investment brings the startup's total funding to $34.7 million.
The company tackles the inefficient traditional invoice process by turning each invoice into a collaborative communication hub. Instead of leaving finance departments to chase down colleagues for answers, Stampli allows employees across the organization to resolve issues directly within the software. Additionally, the platform uses machine learning to recognize cost allocation patterns and optimize approval workflows over time.
Stampli differentiates itself by remaining completely payments-agnostic, which allows customers to choose their own payment providers and retain full control over their financial systems. The company generates revenue by charging based on transaction volume and the number of advanced users, carefully distinguishing between finance decision-makers and occasional collaborative users.