How Much Did Routable Raise? Funding & Key Investors

Routable has successfully raised funds over five rounds, with the latest being a Series B. The platform is backed by 30 investors, including K5 Global and Lachy Groom.

Keep reading to explore the intricacies of Routable's fundraising journey and the investors backing this innovative platform.

What Is Routable?

Routable is a financial technology company based in San Francisco, California. Specializing in B2B payments, the platform facilitates sending and receiving business-to-business payments. The company operates in the finance, fintech, and information technology sectors.

Founded as a private entity, Routable has grown to employ between 51 and 100 people. The platform offers solutions for accounts payable automation, mass payments, and vendor management, emphasizing security and compliance.

How Much Funding Has Routable Raised?

1. Seed Round
   • Amount Raised: USD 4,054,948
   • Date: May 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: USD 12,000,000
   • Date: August 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance platform capabilities.
3. Series B
   • Amount Raised: USD 29,964,761
   • Date: April 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: USD 499,996
   • Date: April 2022
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further support growth and expansion efforts.

Total Amount Raised: USD 46,519,705. 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 and leadership in AI and startups.
  • Investment Focus Areas: Technology, AI, startups
  • Notable Investments: OpenAI, Reddit, Stripe
• Jack Altman
  • Details: Jack Altman is the CEO of Lattice, a company specializing in performance management and employee engagement software. He is also known for his investments in HR technology.
  • Investment Focus Areas: HR technology, enterprise software
  • Notable Investments: Lattice
• Flexport
  • Details: Flexport is a global logistics company that provides freight forwarding and customs brokerage services. The company aims to make global trade easier for businesses of all sizes.
  • Investment Focus Areas: Logistics, supply chain, transportation technology
  • Notable Investments: Convoy, ClearMetal
• Marc Benioff
  • Details: Marc Benioff is the CEO of Salesforce and the founder of TIME Ventures. He is a well-known entrepreneur and philanthropist in the tech industry.
  • Investment Focus Areas: Technology, cloud computing, media
  • Notable Investments: Salesforce, TIME Ventures
• Joe Gebbia
  • Details: Joe Gebbia is the co-founder of Airbnb, a platform that revolutionized the hospitality industry by allowing people to rent out their homes to travelers.
  • Investment Focus Areas: Hospitality, technology
  • Notable Investments: Airbnb

What's Next for Routable?

Routable is poised to capitalize on the vast opportunities in the B2B payments industry, which is projected to be approximately $125 trillion. By expanding into the enterprise market and automating accounts payable and receivables, the company aims to handle bill processing and invoice routing with direct connections to accounting software. This expansion is supported by a recent $30 million Series B funding round, indicating strong investor confidence and potential for future fundraising.

However, the path forward is not without challenges. Routable will need to navigate competition from other financial technology companies and ensure seamless integration with various accounting systems. Scaling operations to meet the demands of enterprise clients while maintaining service quality will be crucial for sustained growth. Despite these hurdles, the company's significant market opportunity and recent revenue growth position it well for future success.

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