Headquartered in Mountain View, Stampli operates an artificial intelligence-powered accounts payable automation solution. The company secured a $61 million round of Series D funding from investors including Blackstone, which led the round, as well as Insight Partners, SignalFire and others. This latest raise brings Stampli’s total funding to more than $148 million.
Stampli’s platform allows finance teams to access accounts payable communications, documentation and payments in a single solution. Its platform assists with tasks like invoice capture, expense allocation, approval routing fraud detection. Currently, more than 1,300 enterprise customers use Stampli’s accounts payable automation technology. The company’s latest round of funding will help it fuel further growth.
The company offers enterprise resource planning integrations for more than 70 apps like Sage and Quickbooks. These integrations allow Stampli’s customers to implement its software without reworking their existing processes, reducing their deployment time to days instead of months, according to a company release.
