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- Tipalti
Tipalti Revenue, Valuation, Funding & Investors
Tipalti is valued at $8.3B as of December 2021.
Last Tipalti valuation
$8.3B
Series F · Dec 2021
Last Tipalti funding round
$270M
Series F · Dec 2021
Tipalti revenue
$80M
Series E · Oct 2020
Key investors in Tipalti
Group 11
Zeev Ventures
01 Advisors
Cerca Partners
Durable Capital Partners
Greenoaks
About Tipalti
Tipalti is a San Mateo-headquartered fintech platform automating accounts payable for global businesses. The solution handles supplier onboarding, tax compliance, invoice processing, and multi-currency payments in over 200 countries. Founded in 2010, Tipalti serves digital brands like AppLovin and Airbnb, reducing manual workloads through integrations with ERP systems like NetSuite.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$80M (Oct 2020)
Valuation
$8.3B (Dec 2021)
Tipalti Valuation
Tipalti is currently valued at $8.3B, based on its Series F in December 2021.
The $270M round was led by G Squared, with participation from Zeev Ventures, Marshall Wace, Durable Capital Partners, Counterpoint Global, 01 Advisors and 1 other investor.
Tipalti's valuation has grown 4.2x from $2B at its Series E in October 2020 to $8.3B in December 2021, across 2 priced rounds.
Tipalti valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2021 | Series F | $8.3B | - |
| Oct 2020 | Series E | $2B | 25.0x |
Tipalti Revenue
Tipalti's latest recorded revenue is $80M, as of its Series E in October 2020. At a $2B valuation, that implies a 25.0x revenue multiple.
Tipalti revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2020 | $80M | $2B | 25.0x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Tipalti Funding History
Tipalti has raised a total of $546M across 6 funding rounds.
Tipalti's first fundraising round was a $9M Series B in October 2014. The most recent completed round was a $270M Series F in December 2021.
Tipalti funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2021 | Series F | G Squared (lead); Zeev Ventures; Marshall Wace; Durable Capital Partners; Counterpoint Global; 01 Advisors; Base Partners | $270M | $8.3B | Tipalti is a San Mateo, California-based fintech company providing a cloud-based automated accounts payable (AP) solution that streamlines global payables operations, including supplier management, VAT compliance, procurement, invoice management, PO matching, self-billing, global payments, and reconciliation. The platform targets high-velocity mid-market and enterprise customers, automating financial operations to reduce manual tasks and risks. In December 2021, Tipalti raised $270 million in a Series F round led by G Squared, with participation from new investors Marshall Wace and Counterpoint Global (Morgan Stanley), alongside existing backers Zeev Ventures, Durable Capital Partners, 01 Advisors, Base Partners, and others, bringing total funding to over $550 million at an $8.3 billion post-money valuation. The funding quadruples Tipalti's prior $2 billion valuation from its October 2020 Series E of $150 million, positioning it among the most valuable private fintechs. Proceeds support accelerated product roadmap enhancements, customer operations scaling, and global expansion, including new offices in London, Texas, and Toronto. CEO Chen Amit highlighted plans to add more capabilities in 18 months than in the prior decade, emphasizing transformation of financial operations for high-velocity organizations. Traction around the round included processing over $30 billion in annual payments for more than 2,000 customers, with transaction volume growing from $5 billion in 2018 to $36 billion in 2021. The company acquired Approve.com for $40 million in 2021 to bolster its procurement suite. G Squared's Larry Aschebrook praised Tipalti's growth, retention, and disruption in the underserved global payables market amid tailwinds like cross-border payment volume projected to hit $250 trillion by 2027. |
| Oct 2020 | Series E | Durable Capital Partners (lead); Greenoaks; 01 Advisors | $150M | $2B | Tipalti is a global payables automation platform that provides cloud-based solutions to automate accounts payable and financial operations for mid-market and enterprise companies. The platform processes payments globally and serves high-velocity organizations looking to modernize their financial operations. In October 2020, Tipalti raised $150 million in a Series E funding round led by Durable Capital Partners, with significant participation from Greenoaks Capital and existing investor 01 Advisors, valuing the company at more than $2 billion. This round represented a four-fold increase from the company's previous Series D valuation of approximately $500 million, which had been raised about a year prior in September 2019. The funding was intended to accelerate Tipalti's product roadmap, expand its global presence, and increase headcount across engineering, product, customer operations, and sales functions. By the time of the Series E round, Tipalti had surpassed $12 billion in annual transaction volume in 2020, ended Q2 2020 with an over 80% growth rate compared to Q2 2019, exceeded 1,000 customers, and employed over 350 people globally. The company ranked on the 2020 Inc. 5000 list of fastest-growing U.S. companies for the third consecutive year and won the SaaS Award for Best SaaS in the Business Accounting or Finance category. |
| Sep 2019 | Series D | Zeev Ventures (lead); Group 11; Greenspring Associates; TrueBridge Capital Partners; 01 Advisors; Cerca Partners | $76M | - | Tipalti is a global payables automation platform that streamlines accounts payable processes for businesses, particularly those in the gig economy and operating internationally, handling payments to suppliers worldwide while complying with regulations. In September 2019, it raised $76 million in a Series D funding round led by Zeev Ventures, with participation from 01 Advisors, Cerca Partners, Greenspring Associates, Group 11, and TrueBridge Capital Partners. The funds were intended to accelerate growth and expand platform functionality amid rapid scaling. Prior to the round announcement, Tipalti reported surpassing $8 billion in annual transactions in the first half of 2019, more than doubling new customer and business bookings while maintaining a 98% customer satisfaction rating. By early 2020, it exceeded $10 billion in annual transactions, reached over 900 customers, doubled bookings in 2019, and grew headcount by nearly 40% to 240 employees, adding offices in Vancouver alongside locations in San Mateo and Israel. The company ranked on Deloitte’s Technology Fast 500 and Inc. 5000 lists for fast growth. Subsequent developments included a $150 million Series E in September 2020 at over $2 billion valuation, growth to $18 billion annualized transactions by late 2020 with 85% revenue increase in Q4 2020 vs. Q4 2019, and later milestones like $60 billion payment volume run rate by 2023 and $200 million ARR recently. Tipalti differentiates in AP automation with AI-driven features for global tax compliance, competing in a market projected to grow significantly. |
| Feb 2018 | Series C | Zeev Ventures (lead); Group 11; True Capital Management; Cerca Partners | $30M | - | Tipalti is a cloud-based global payables automation platform that helps businesses modernize their accounts payable operations. The company's solution automates approximately 80% of an organization's AP and cross-border payments workload, allowing finance teams to focus on strategic initiatives and business growth. Tipalti serves major customers including Amazon, GoDaddy, Indeed, Roku, and Twitter. In February 2018, Tipalti closed a $30 million Series C financing round led by Zeev Ventures, bringing the company's total funding to over $50 million at that time. The round was used to accelerate product innovation and expand the company's leadership position in the accounts payable automation space. At the time of the Series C announcement, Tipalti was processing over $4 billion in annual transactions across nearly 2 million global suppliers, and the company maintained near-perfect customer satisfaction and retention rates exceeding 98 percent. The company had grown its employee headcount more than 50% in 2018 and planned additional significant headcount expansion in 2019 across its San Mateo, California headquarters and Israel development center. |
| Sep 2016 | Series B | Group 11 (lead) | $11M | - | Tipalti is a B2B fintech company providing automation solutions for global payables and accounts payable operations. The company helps mid-market and enterprise finance teams automate manual supplier payment processes, enabling employees to focus on strategic work rather than routine transaction handling. In September 2016, Tipalti raised $14 million in a Series B round led by SGVC (with Group 11 investors identified in earlier funding). By 2015, the company had achieved 200% year-over-year growth while maintaining 99% customer retention and processing $2 billion in annual payment volume. The company released enhanced invoice processing capabilities in 2016, becoming the first cloud platform to fully automate end-to-end accounts payable workflows. By October 2020, Tipalti had raised approximately $280 million cumulatively and achieved unicorn status with a Series E valuation exceeding $2 billion, demonstrating significant growth in both valuation and market traction following the 2016 round. |
| Oct 2014 | Series B | Group 11 (lead); Wicklow Capital (lead) | $9M | - | Tipalti raised $9 million in a Series B funding round on October 22, 2014, led by Group 11 and Wicklow Capital. The funding aimed to enhance product offerings and scale operations. Tipalti provides a cloud-based payouts management automation platform. Later rounds include a $270 million Series F in December 2021 at $8.3 billion valuation and debt financings in 2023 and 2025. |
Who has invested in Tipalti?
14 investors have backed Tipalti across its funding rounds, including Group 11, Zeev Ventures, 01 Advisors, Cerca Partners, Durable Capital Partners and Greenoaks.
Lead investors include G Squared, Durable Capital Partners, Zeev Ventures, Group 11 and Wicklow Capital.
Tipalti Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Oct 2014 | ||
| 3 | Lead | Feb 2018 | ||
| 3 | Participant | Sep 2019 | ||
| 2 | Lead | Oct 2020 | ||
| 2 | Participant | Feb 2018 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Feb 2018 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Lead | Dec 2021 | ||
This data is available for Pro users. Sign up to see all 14 Tipalti investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Tipalti
Tipalti has acquired 2 companies to date.
Last acquisition by Tipalti was on June 16th 2025. Tipalti acquired Statement for $30M.
Latest Acquisitions by Tipalti
| Description | Statement is a fintech platform headquartered in London, United Kingdom. The company automates corporate finance workflows by consolidating data from banks, ERPs like SAP, and billing systems into real-time dashboards. Finance teams build rules for reconciliations, payments, and analytics, serving mid-market businesses with $10 million to $500 million in revenue. Founded in 2021, Statement processes billions in transactions monthly for clients in e-commerce and SaaS sectors across Europe. | Approve.com streamlines procurement workflows with customizable approval chains, vendor management, and purchase order automation. Austin-based SaaS provider serves mid-market organizations in construction, manufacturing, and nonprofits. The platform handles requisitions from creation through invoice matching, integrating with QuickBooks, NetSuite, and Coupa to enforce policies, track spend, and generate compliance reports across global teams. |
| HQ Country | ||
| HQ City | New York City, NY | Dover, DE |
| Deal Date | 16 Jun 2025 | 12 Apr 2021 |
| Valuation | $30M | $40M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Tipalti acquisitions and their M&A valuation multiples. Start Free Trial | ||
Tipalti Competitors
Tipalti competitors include listed companies like Paymentus and Edenred, and private ones like Razorpay, Airwallex, Billdesk and Dock.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $159M | - | $6.5B | 40.9x | ||
| Private | $1.3B | - | $11B | 8.5x | ||
| Publicly listed | $1.2B | $117M | $4.6B | 3.0x | ||
| Private | $99M | - | $1.8B | 18.2x | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $3.4B | $1.3B | $7.7B | 2.8x |
Tipalti Public Comps
Tipalti is still privately-owned, but its public comps include Edenred, WEX, MonotaRO, Nexi, ACI Worldwide, Paymentus, dLocal, BILL.com, Kaspi.kz and Circle.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.4B | $1.3B | 2.8x | 2.8x | 7.7x | 6.5x | |||
| $2.7B | $992M | 2.2x | 2.1x | 6.0x | 4.8x | |||
| $2.1B | $340M | 2.9x | 2.6x | 18.1x | 16.6x | |||
| $7.2B | ($2.3B) | 0.6x | 1.0x | (1.9x) | 2.0x | |||
| $1.8B | $456M | 3.3x | 3.1x | 12.8x | 10.9x | |||
| $1.2B | $117M | 3.5x | 3.0x | 35.8x | 24.8x | |||
| $1.1B | $229M | 3.1x | 2.3x | 14.6x | 10.7x | |||
| $1.7B | $34M | 2.4x | 2.4x | 116.2x | 10.3x | |||
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Common questions about Tipalti
| When was Tipalti founded? | Tipalti was founded in 2010. |
| Where is Tipalti headquartered? | Tipalti is headquartered in San Francisco, CA, United States. |
| Is Tipalti publicly listed? | No, Tipalti is a private, VC-backed company. |
| What is Tipalti's valuation? | Tipalti was last valued at $8.3B in its Series F in December 2021. |
| How much funding has Tipalti raised? | Tipalti has raised $546M across 6 funding rounds. |
| What was Tipalti's last funding round? | Tipalti's last funding round was a $270M Series F in December 2021, led by G Squared. |
| Who are Tipalti's investors? | Tipalti's investors include Group 11, Zeev Ventures, 01 Advisors, Durable Capital Partners, Cerca Partners, Greenoaks, Greenspring Associates, Marshall Wace, True Capital Management, TrueBridge Capital Partners and 4 others. |
| What is Tipalti's revenue? | Tipalti's latest recorded revenue is $80M (October 2020). |
| What is Tipalti's revenue multiple? | Tipalti's latest valuation implies a 25.0x revenue multiple ($2B valuation on $80M of revenue). |
| Which companies are comparable to Tipalti? | Companies comparable to Tipalti include Razorpay, Airwallex, Paymentus, Billdesk, Dock and Edenred. |
| How many companies has Tipalti acquired? | Tipalti has acquired 2 companies, including Statement and Approve.com. |
| What was the largest acquisition by Tipalti? | The $40M acquisition of Approve.com in April 2021 is the largest acquisition Tipalti has made to date. |
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