Zip, a San Francisco, CA-based provider of an intake-to-pay platform, raised $100M in Series C funding at a $1.5 Billion valuation.
Backers included Y Combinator, CRV and Tiger Global.
The company, which has raised total funding to $181 million with its prior seed, $25 million Series A and $43 million Series B rounds, intends to use the fundsto accelerate product and user experience innovations to increase employee adoption across its customer base, including new applications of generative AI that maximize efficiency and synthesize insights across the intake-to-pay process, to continue to invest in top talent across geographies, and expand its presence with a new office in Dallas, Texas, adding to its existing headquarters in San Francisco and office in Toronto, Canada.
Led by CEO Rujul Zaparde, Zip is a provider of an intake-to-pay platform. Providing a single platform for any employee to initiate and complete a purchase or vendor request, the company helps businesses gain clear and timely visibility across all business spend, while improving the employee experience. The platform’s no-code configuration and intelligent workflows integrated across disparate systems enable businesses to automatically route requests for faster approval across finance, legal, procurement, IT, security and other teams. The company consolidates all the steps and tools used across the purchasing lifecycle in one platform.
Zip now boasts hundreds of customers globally including Snowflake, Coinbase, Northwestern Mutual, Canva, Webflow and Databricks—ranging from startups to Fortune 500 public companies.