Total amount raised
$145.7 Million
Latest funding date
10/1/2023
Location
Stampli has successfully raised funding over six rounds, with the latest being a Series D round involving five investors, including the Blackstone Group. The platform offers a comprehensive procure-to-pay solution, featuring AP Automation, Procurement, Payments, Credit Cards, and Vendor Management.
Keep reading to explore the intricacies of Stampli's fundraising journey and the investors backing this innovative platform.
What Is Stampli?
Stampli, based in Mountain View, California, is a prominent player in the financial technology sector, specializing in procure-to-pay automation and accounts payable automation. The company operates in industries such as accounting, artificial intelligence, billing, and payments.
Founded with the mission to simplify the process of handling invoices, approvals, and payments, Stampli has grown to employ between 251-500 people. The platform is powered by an AI employee named Billy, designed to manage P2P processes with human-level intelligence, and integrates seamlessly with various ERP systems.
How Much Funding Has Stampli Raised?
- Seed Round
- Amount Raised: USD 3,000,000
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish a market presence.
- Series A
- Amount Raised: USD 6,700,000
- Date: August 2018
- Lead Investors: SignalFire
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: USD 25,000,000
- Date: October 2019
- Lead Investors: SignalFire
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve AI capabilities.
- Series C
- Amount Raised: USD 50,000,000
- Date: May 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Series D
- Amount Raised: USD 61,000,000
- Date: October 2023
- Lead Investors: Blackstone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To make Stampli one of the largest FinTech companies and enhance AI-driven solutions.
Total Amount Raised: USD 145,700,000. Current Valuation: Not publicly disclosed.
Key Investors
- Blackstone Group
- Details: Blackstone Group is the largest alternative asset manager in the world, managing assets across various sectors including private equity, real estate, and credit. The firm has stakes in more than 230 companies and 12,600 real estate assets.
- Investment Focus Areas: Private equity, real estate, credit, hedge fund investment strategies.
- Notable Investments: Hilton Worldwide, Refinitiv, Ancestry.com.
- Insight Partners
- Details: Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies. The firm has a strong track record of helping companies scale and achieve significant growth.
- Investment Focus Areas: High-growth technology, software, Internet businesses.
- Notable Investments: Twitter, Shopify, DocuSign.
- SignalFire
- Details: SignalFire is a venture capital firm that leverages data and technology to support its portfolio companies. The firm is known for its unique approach to investing, using a combination of data science and human expertise.
- Investment Focus Areas: Technology-driven companies, leveraging data and AI.
- Notable Investments: Grammarly, Frame.io, Ro.
- Bloomberg Beta
- Details: Bloomberg Beta is a venture capital firm backed by Bloomberg L.P., focusing on early-stage investments. The firm aims to invest in companies that can benefit from Bloomberg's expertise and network.
- Investment Focus Areas: Early-stage technology companies, leveraging Bloomberg's data and technology.
- Notable Investments: Slack, MasterClass, Knotel.
- NextWorld Capital
- Details: NextWorld Capital is a venture capital firm that invests in enterprise technology companies. The firm helps its portfolio companies expand into global markets and achieve significant growth.
- Investment Focus Areas: Enterprise technology, global market expansion.
- Notable Investments: Zuora, DataStax, Gong.io.
What's Next for Stampli?
Stampli stands at the cusp of significant growth opportunities, driven by the increasing demand for AI-powered accounts payable automation. The company is well-positioned to capitalize on the vast, underpenetrated market of AP automation and B2B payments, which Deutsche Bank estimates to be worth around $70 billion in the U.S. alone. With the recent $61 million Series D funding led by Blackstone, Stampli is poised to enhance its AI capabilities, expand its product offerings, and enter new markets.
Future fundraising opportunities appear promising as the fintech sector continues to attract substantial investments. Stampli's strategic partnership with Blackstone and its robust market potential suggest that additional funding rounds could be on the horizon. However, the company may face challenges such as navigating regulatory requirements, staying competitive in a rapidly evolving market, and managing cybersecurity threats. Despite these hurdles, Stampli's innovative approach and strong investor backing position it well for continued success and potential future acquisitions.
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