Zip, a San Francisco, California-based world’s leading intake-to-procure solution, announced that it raised $43 million in Series B funding, bringing Zip’s total funding to $81 million and the company’s valuation to $1.2 billion, in just 18 months since its founding.
The round was led by YC Continuity, with participation from Tiger Global and CRV.
Zip’s latest funding round will be used to accelerate investment in its technology and to hire more of the best and brightest talent to solve hard, ubiquitous problems with a consumer-first approach.
Company: Greenbax Inc.
Raised: $43.0M
Round: Series B
Funding Month: May 2022
Lead Investors: YC Continuity
Additional Investors: Tiger Global and CRV
Company Website: https://ziphq.com/
Software Category: Procure Solution
About the Company: Founded in 2020 by Rujul Zaparde and Lu Cheng, Zip is the world’s leading intake-to-procure solution. Providing a single platform for any employee to initiate a purchase or vendor request, Zip helps businesses gain clear and timely visibility across all purchases, while dramatically improving the employee experience. The platform’s no-code configuration and intelligent workflows integrated across disparate systems enable businesses to automatically route requests for faster approval across finance, legal, procurement, IT, security, and other teams. Leading enterprises and high-growth startups like Databricks, Canva, Airtable, Roblox, Webflow, and over 100 others use Zip to streamline their procurement processes while delighting their business users.
Source: https://ziphq.com/blog/announcing-series-b-funding https://www.businesswire.com/news/home/20220524006182/en/Zip-Secures-43-Million-Series-B-at-a-1.2-Billion-Valuation-to-Solve-the-Procurement-Experience-and-Workflow-Challenge-Every-Company-Faces
Zip boasts more than 100 customers, including industry leaders such as Canva, Snowflake, Roblox, Coinbase, Airtable, Toast, Webflow and Databricks. The company rapidly grew to more than 130 employees – with top-tier engineers from Silicon Valley tech innovators like Airbnb, Meta, Google and Square.