Zip, a San Francisco, CA-based AI-powered procurement orchestration platform, has raised $190 million in Series D funding, bringing its valuation to $2.2 billion. 

Investors 

The round was led by BOND, with participation from DST Global, Adams Street, Alkeon, Y Combinator, and CRV. 

BOND is a global technology investment firm that supports visionary founders throughout their entire lifecycle of innovation and growth. Based in San Francisco, California, the firm invests in companies in the information technology and consumer products and services sectors. 

Zip Use of Funds 

The company will use the funding to accelerate R&D, expand AI capabilities, and drive global growth, particularly in the EMEA region. 

About Zip 

Founded in 2020, Rujul Zaparde and Lu Cheng, Zip provides a procurement orchestration platform, empowering organizations to accelerate procurement, mitigate risk, and drive growth by offering a single front door to unify teams, tasks, and tools involved in working with suppliers. Zip enables businesses to maximize employee adoption of purchasing policies and increase visibility and control over spend. Its AI-powered platform is used by major enterprises worldwide, including Anthropic, Arm, Canva, Coinbase, Discover, Dollar Tree, Instacart, Lyft, Northwestern Mutual, Prudential, Reddit, Sephora, Snowflake, and Sprouts. 

Funding Details 

Company: ZipHQ, Inc. 

Raised: $190.0M 

Round: Series D 

Funding Date: October 2024 

Lead Investor: BOND 

Additional Investors: DST Global, Adams Street, Alkeon, Y Combinator, CRV 

Company Website: https://ziphq.com/  

Software Category: Procurement

Source: https://www.businesswire.com/news/home/20241021142811/en/