In a remarkable milestone for the world of AI-powered accounts payable automation, Stampli has secured $61 million in a Series D funding round, led by Blackstone and joined by existing investors Insight Partners, SignalFire, Bloomberg Beta, and NextWorld Capital. This brings Stampli’s total funding to over $148 million, signifying the industry’s confidence in their innovative approach.
The Growing Market for AP Automation
Accounts Payable (AP) automation and B2B payments are integral components of modern finance, yet they remain largely untapped. Every business, big or small, engages in bill payments, making AP automation a market with boundless potential. According to Deutsche Bank Research, the US alone represents approximately $70 billion in revenue opportunity for AP automation and ePayments combined. The international market could be even larger, creating a substantial growth opportunity.
Stampli’s Ascension to Success
Launched in 2015, Stampli has rapidly become a leading provider of accounts payable automation and ePayment services. Recent statistics are staggering, with Stampli processing over 1 million invoices, totaling more than $5 billion in a single month. Their meteoric rise highlights the critical role they play in revolutionizing financial operations.
AI’s Role in Secure Finance
Stampli’s success story is not just about automation but also about the responsible use of AI in sensitive financial applications. CFOs today are under immense pressure to leverage AI for streamlined workflows and cost reduction. However, AI has often been associated with data security concerns and unpredictable outcomes. Stampli’s success showcases the compatibility of AI in finance and offers a blueprint for CFOs to maintain human validation while embracing AI as a valuable partner.
Stampli’s Promise: Efficiency Without Disruption
Accounts payable automation is known for its efficiency and cost benefits, but choosing the right provider can be daunting. CFOs prioritize minimal disruption during implementation, and Stampli delivers precisely that. Their in-house ERP integrations support native functionality, allowing seamless implementation without overhauling existing processes or expensive consultations. Stampli is especially suitable for complex corporate structures, regulated industries, and businesses dissatisfied with their current AP automation provider.
Blackstone’s Strategic Investment
Blackstone‘s lead in Stampli’s Series D funding underscores their commitment to digitizing the economy and AI adoption. Stampli’s unique position aligns with Blackstone’s focus on automating legacy processes with AI technology. Their extensive portfolio and procurement expertise offer Stampli unprecedented resources and growth potential.
The Vision of Stampli’s Leadership
Eyal Feldman, CEO and Co-founder of Stampli, envisions a future where Stampli becomes one of the world’s largest FinTech companies, driven by superb user experience, fast implementation, and deep ERP integration. This partnership with Blackstone is seen as a significant step toward realizing that vision.
“In this macroeconomic environment, where companies have to be more careful with their spend and their cash, Stampli became the solution of choice due to our superb user experience, super-fast implementation and deep ERP integration capabilities.” Said Mr. Feldman. “We chose Blackstone as our partner because of our shared vision and experience driving operational efficiencies through best practices, technology and AI. I am honored that they see a similar fit in our company. Together, we will make Stampli one of the largest FinTech companies in the world.”
Yifat Oron, Senior Managing Director at Blackstone and head of the firm’s office in Israel, said, “In today’s environment, building a digital-first modern finance organization is a top priority for CFOs and controllers. While we are still in the early innings of AP automation, Stampli stands out as a transformative leader in this extremely large, underpenetrated market. Stampli’s best-in-class team has built a product loved by customers and differentiated by its ease-of-use and out of the box integration. We are thrilled to have Stampli join our growing portfolio of innovative companies.”
A Bright Future for AP Automation
As the world of finance undergoes a digital transformation, Stampli emerges as a transformative leader in the vast AP automation market. Their best-in-class team and user-friendly product have earned the trust of customers and investors alike, promising a brighter, more efficient future for accounts payable automation.
TL;DR
Stampli raises $61 million in a Series D funding round led by Blackstone, bringing their total funding to over $148 million. Stampli is revolutionizing accounts payable automation with its AI-powered platform, offering efficiency without disruption and setting an example of responsible AI use in finance.
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