Stampli secures $61M in Series D to pioneer AI-driven AP automation

Stampli Inc., is leveraging artificial intelligence to revolutionize the bill-paying ecosystem. They've recently achieved a significant milestone by raising an impressive $61M in a funding round led by the industry heavyweights, Blackstone Inc.

• What do they do? Stampli Inc., with its AI capabilities, supports major companies like Grubhub and Purple mattresses. They streamline invoice payments and ensure timely transactions, keeping vendors contented and businesses running smoothly.

• Since when have they been around? Despite the recent hype around AI, Stampli Inc. has been harnessing its potential since 2015. Eyal Feldman, the CEO, proudly states that they've been pioneers in adopting AI technology long before it became a hot trend.

• Total Funding? Stampli Inc.'s total funding now stands at $148M. For a company just six years old, this is an applaudable achievement.

• What's the funding for? The freshly acquired funds will be used to boost their team strength. From a current workforce of 250, they plan to expand to a robust team of 350.

With the company's impressive trajectory, Feldman has his sights set on an initial public offering (IPO).

The recent funding round saw renewed confidence from existing investors, including Insight Partners, SignalFire, and Bloomberg Beta.