How Much Did Routable Raise? Funding & Key Investors

Routable has successfully raised funds through multiple rounds, with its most recent being a Series B that closed on April 29, 2022. The platform specializes in automating accounts payable processes, mass payments, and vendor management, offering businesses enhanced financial control and compliance.

With backing from 30 investors, including notable names like K5 Global and Lachy Groom, Routable continues to innovate in the financial technology space. Keep reading to explore the intricacies of Routable's fundraising journey and the investors supporting this dynamic platform.

What Is Routable?

Routable, founded in 2017 by Omri Mor and Tom Harel, is a financial technology company headquartered in Seattle, Washington. The company operates in the B2B, finance, and fintech industries, specializing in automating accounts payable processes, managing mass payments, and handling vendor management.

With an employee count ranging between 51-100, Routable offers a platform that includes features such as AP Automation, Vendor Management, International Payments, Mass Payouts, Real-Time Payments, and Two-Way Accounting Software Sync. The company aims to streamline financial operations for businesses, enabling faster and more efficient payments and improved compliance.

How Much Funding Has Routable Raised?

1. Seed Round
   • Amount Raised: $4.1M
   • Date: May 22, 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support initial growth and development of the platform.
2. Series A
   • Amount Raised: $12M
   • Date: August 9, 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand platform capabilities and scale operations.
3. Series B
   • Amount Raised: $30M
   • Date: April 15, 2021
   • Lead Investors: Jack Altman, Sam Altman
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the team and expand into the enterprise market.
4. Series B
   • Amount Raised: $500K
   • Date: April 29, 2022
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further enhance platform capabilities and support ongoing growth.

Total Amount Raised: $46.6M

Current Valuation: Not publicly disclosed

Key Investors

• Sam Altman
  • Details: Sam Altman is the CEO of OpenAI and the former president of Y Combinator. He is a prominent figure in the tech industry, known for his investments in groundbreaking technologies.
  • Investment Focus Areas: Technology, Artificial Intelligence, Startups
  • Notable Investments: OpenAI, Reddit, Stripe
• Jack Altman
  • Details: Jack Altman is the CEO of Lattice, a company that provides performance management software. He is also known for his investments in HR technology and enterprise software.
  • Investment Focus Areas: HR Technology, Enterprise Software, Startups
  • Notable Investments: Lattice
• Flexport
  • Details: Flexport is a global logistics company that focuses on modernizing the supply chain industry. They provide technology-driven solutions to streamline logistics and supply chain operations.
  • Investment Focus Areas: Logistics, Supply Chain, Technology
  • Notable Investments: Convoy, KeepTruckin
• Marc Benioff
  • Details: Marc Benioff is the CEO of Salesforce and the founder of TIME Ventures. He is a well-known entrepreneur and philanthropist with a focus on cloud computing and enterprise software.
  • Investment Focus Areas: Cloud Computing, Enterprise Software, Media
  • Notable Investments: Salesforce, TIME Magazine
• Gokul Rajaram
  • Details: Gokul Rajaram is an executive at DoorDash and has a background in product management and technology. He is recognized for his contributions to the tech industry and his strategic investments.
  • Investment Focus Areas: Food Delivery, Technology
  • Notable Investments: DoorDash

What's Next for Routable?

Routable stands on the brink of significant growth, with opportunities to expand into the enterprise market and address the vast B2B payments industry, projected at approximately $125 trillion. The company plans to scale its team and accelerate integrations with additional financial systems, enhancing its platform's capabilities.

Future fundraising seems promising, given the successful Series B round and the substantial market opportunity. However, challenges such as competition from other enterprise finance software platforms and the complexity of integrating with multiple financial systems could pose hurdles. Ensuring compliance and security in automated payment processes will also be crucial as Routable continues to grow.

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