SAN MATEO, Calif.--(BUSINESS WIRE)--Tipalti, the leading global payables automation platform, today announced that it has surpassed $11 billion in annual transactions. Despite the economic headwinds in 2020, Tipalti has continued to achieve high growth, ending Q2 2020 at an over 80% growth rate relative to where the company finished in Q2 2019. These achievements also coincide with Tipalti passing the 1,000-customer mark.
Tipalti’s organizational growth has accelerated with the addition of over 50 new team members in the first half of 2020, reaching over 300 employees globally. The company plans to hire more than 100 additional employees across the US, Canada, and Israel in the second half of this year, which would result in an almost 70% increase in headcount since the end of 2019.
“The last 6 months have continued to be a period of rapid growth for Tipalti as finance leaders at modern, high-velocity companies continue to use our automated payables solutions to help them scale their businesses while navigating their companies through this challenging time,” said Chen Amit, CEO and co-founder of Tipalti. “It's clear that automation and modernizing accounts payable is strategically vital for CFOs and controllers to meet their business goals, which is why we continue to see traction as we support the long-term success of their organizations.”
In the first half of 2020, Tipalti opened its third location with their Vancouver, B.C., Canada office; launched its Tipalti Pi solution, which leverages AI and machine learning to improve decision making around payables; and introduced a new initiative to help guilds, nonprofits, and trade groups make payments quickly to members during COVID-19. The company also announced new partnerships with FloQast, Affise, and Myers-Holum, along with enabling seamless payments for video game companies DLive, Gen.G, and Holy Fire Games.
In May, Tipalti’s CFO Sarah Dickens Spoja was named as one of the Bay Area’s Most Influential Women by the San Francisco Business Times, and in 2019 Tipalti ranked on both the Inc. 5000 list of fastest-growing companies in the United States and Deloitte's Technology Fast 500 list for the second year in a row. Tipalti is also the reigning NetSuite SuiteApp of the Year winner.
For more information, visit https://tipalti.com.
Tipalti is the only payables automation solution to streamline all phases of the global AP workflow in one holistic cloud platform. Tipalti makes it painless for finance departments to manage their entire supplier payments operation. Leading companies use Tipalti to scale their businesses efficiently, eliminating up to 80% of their supplier payments workload, accelerating financial close by 25%, and strengthening financial, cash, regulatory, and tax compliance controls. Hundreds of high-velocity companies trust Tipalti to transform their payables operations including Amazon Twitch, Automattic, ClassPass, Zola, Roku, Zumba Fitness, Amplitude, Seeking Alpha, GoPro, Twitter, Roblox, Medium, GoDaddy, Vimeo, and Foursquare.