Stampli, a Mountain View, CA-based AI-powered accounts payable automation, raised $61 million in Series D funding, bringing its total amount raised to over $148 million.
The round was led by funds managed by Blackstone, with participation from existing investors Insight Partners, SignalFire, Bloomberg Beta, and NextWorld Capital.
Blackstone is an alternative asset manager that seeks to create positive economic impact and long-term value for its investors, the companies they invest in, and the communities in which we work. It's $1 trillion in assets under management include investment vehicles focused on private equity, real estate, private and liquid credit, infrastructure, life sciences, growth equity, public securities, and secondary funds, all on a global basis.
Founded in 2015, Stampli is a provider of AI-powered accounts payable automation and ePayment services. The company offers a platform that leverages artificial intelligence for various accounts payable tasks, including invoice capture, expense allocation, approval routing, and fraud detection. Stampli's platform is designed to streamline the accounts payable process, reduce errors, enhance workflow efficiency, and help organizations manage their financial operations more effectively. Stampli offers its fast 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.
Company: Stampli, Inc.
Round: Series D
Funding Month: October 2023
Lead Investors: Blackstone
Additional Investors: Insight Partners, SignalFire, Bloomberg Beta, and NextWorld Capital
Company Website: https://www.stampli.com/
Software Category: Accounts Payable Automation Solution