The UpWest team is excited to congratulate Stampli on its recent $6.7M Series A. The round, in which UpWest participated, was led by SignalFire with further participation from Bloomberg Beta and Hillsven Capital. It will be used to continue scaling the business, which is already growing rapidly at 20% each month.
Stampli, founded in 2015 by brothers Eyal and Ofer Feldman, has created a first of its kind cloud-based Accounts Payable solution that reduces time spent chasing invoice approvals by as much as 80%. Stampli already manages over $4 billion in invoices through its AI driven interface.
“The invoice is the foundation of spend for any enterprise, but with so many different stakeholders requiring insight into the process, and the traditional lengthy implementation project required to support the process, there were a number of barriers for organizations to completing the process efficiently,” said Eyal Feldman, co-founder and CEO. “Stampli allows businesses to get it done instantly with no implementation project and allowing them to think about invoices in a whole new way — collaboratively. That fundamental change results in Stampli’s hyper growth never seen before in the market.”
We are proud to have been Stampli’s first investors in 2016, and excited to participate in the company’s latest financing round. Congratulations to Eyal, Ofer, and the rest of the Stampli team — we look forward to seeing what comes next! You can read more about Stampli’s raise on TechCrunch, and see the full press release here.
