Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, P2P, and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable, B2B Payments, or Spend Management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Tipalti Raises $76 million in Series D Funding
Late last month, Tipalti, a California-based payables automation solution provider, announced in a blog post that it has raised $76 million in Series D funding from both new and legacy investors to support its continued growth and expansion in the mid-market. According to the blog, Tipalti has more than doubled its customers and has passed $8 billion in transactions, necessitating further company growth. With this new round of funding, Tipalti will look to deepen its bench strength in developers, customer success managers, sales, and business development, as well as unspecified marketing investments. Company officials also stated that they intend to open new offices somewhere in North America and Europe.
MineralTree Announces Appointment of New President
Earlier this month, MineralTree, a Massachusetts-based ePayables and payment automation provider for the mid-market, announced the appointment of Vijay Ramnathan as its new president. He will work alongside MineralTree CEO, Micah Remley, to continue the company’s growth in the mid-market for ePayables solutions. Vijay comes to MineralTree from COMDATA Corporate Payments and will leverage his more than 20 years of experience in B2B payments and banking in his new role. Congrats, Vijay!
New Frontiers: Tradeshift Partners with QEDIT to Build Blockchain-Based Trade Finance Platform
Late last month, our friends at Tradeshift, the San Francisco-based provider of supply chain payments and marketplaces, informed us of a partnership between its research and development arm, Tradeshift Frontiers, and Israel-based cryptographic solutions provider, QEDIT. The two companies are now developing a Blockchain-based trade finance platform that can be used among competitors without revealing competitive information. It will be built atop Tradeshift’s Blockchain platform and incorporate a layer of privacy-boosting cryptographic coding provided by QEDIT that will enable trading partners to “record and authenticate” transferred assets on the shared platform. The goal is to draw more financiers to the platform and to boost more transactions in a trust-but-verify environment created on Blockchain distributed digital ledgers.
Yooz Highlights Record Year, Achievements
Yooz, the global P2P solution provider with North American headquarters in Texas, is having a record year. Earlier this month, the Dallas-based solutions provider announced a bunch of highlights on a year that is not even over. According to company officials, Yooz is on track to achieve 100% year-over-year growth for the third year in a row. As a result, the company has doubled its office space in anticipation of even more customers, revenues, and staff. Company officials credit their success to their ability to fill a gap in the AP automation space with a cloud-based AP automation platform that incorporates intelligent features, like machine learning, robotic process automation, and smart data extraction, and can scale to accommodate mid-sized organizations.
Jaggaer Names Jim Bureau as New CEO
Earlier this week, JAGGAER, the North Carolina-based provider of source-to-settle solutions, informed us that it has named Jim Bureau as its newest CEO, replacing Robert Bonavito at the helm. Jim joined Jaggaer in August of 2017 as Executive Vice President in charge of driving customer success, sales, marketing, and operations. Jim will bring his nearly 20 years of executive experience to the task of leading the company towards continued growth and success. Congrats, Jim, and good luck!
