Tabs, a New York-based company that provides AI-powered accounts receivable platform for B2B businesses, has raised $7 million in seed funding, bringing its total raised to $12 million.
Investors
The round was led by Lightspeed Venture Partners.
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations in the Enterprise, Consumer, Health, and Fintech sectors. The firm currently manages $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia.
Tabs Use of Funds
The investment will fuel Tabs' mission to reimagine B2B AR processes at a critical time when most businesses struggle to collect cash and find profitability.
About Tabs
Tabs is a company that provides an AI-powered accounts receivable (AR) platform designed specifically for B2B (business-to-business) enterprises. The company automates various aspects of the AR process, including contract ingestion, invoicing, and payments, thereby streamlining the accounting workflow for businesses. Leveraging AI, Tabs can understand and extract elements from even the most complex B2B contracts and then power an automated AR process from contract to cash. Tabs is on a mission to help organizations bring the power of AI to accounts receivable.
Funding Details
Company: Tabs Platform, Inc.
Raised: $7.0M
Round: Seed Round
Funding Month: April 2024
Lead Investors: Lightspeed Venture Partners
Additional Investors:
Company Website: https://tabs.inc/
Software Category: Financial
Source: https://www.businesswire.com/news/home/20240411085880/en/