Zip Secures $190 Million in Landmark Series D Funding, Marking the Largest Investment in Procurement Technology in Over Two Decades
Zip, the AI-powered procurement orchestration platform, has secured $190 million in Series D funding led by BOND, valuing the company at $2.2 billion. This marks the largest investment in procurement technology in over two decades. The funding will be used to:
1. Accelerate R&D efforts, including further development of Zip's Procure-to-Pay product line
2. Establish the Zip AI Lab for developing cutting-edge AI solutions
3. Expand globally, with a focus on the EMEA region
Zip's platform has already processed over $107 billion in customer spend and saved industry giants like Snowflake, Discover, and Sephora over $4.4 billion in procurement spend. The company aims to revolutionize business spending and become the global standard for B2B spend management.
Zip, la piattaforma di orchestrazione degli approvvigionamenti alimentata dall'IA, ha ottenuto 190 milioni di dollari in finanziamenti di Serie D guidati da BOND, valutando l'azienda 2,2 miliardi di dollari. Questo segna il più grande investimento nella tecnologia degli approvvigionamenti in oltre due decenni. I fondi saranno utilizzati per:
1. Accelerare gli sforzi di R&D, incluso il ulteriore sviluppo della linea di prodotti Procure-to-Pay di Zip
2. Istituire il Zip AI Lab per sviluppare soluzioni AI all'avanguardia
3. Espandersi a livello globale, con un focus sulla regione EMEA
La piattaforma di Zip ha già gestito oltre 107 miliardi di dollari in spese dei clienti e ha risparmiato a giganti del settore come Snowflake, Discover e Sephora oltre 4,4 miliardi di dollari in spese di approvvigionamento. L'azienda punta a rivoluzionare la spesa aziendale e diventare lo standard globale per la gestione delle spese B2B.
Zip, la plataforma de orquestación de adquisiciones impulsada por IA, ha asegurado 190 millones de dólares en financiación de la Serie D liderada por BOND, valorando la empresa en 2,2 mil millones de dólares. Esto marca la mayor inversión en tecnología de adquisiciones en más de dos décadas. La financiación se utilizará para:
1. Acelerar los esfuerzos de I+D, incluida la continuación del desarrollo de la línea de productos Procure-to-Pay de Zip
2. Establecer el Zip AI Lab para desarrollar soluciones de IA de vanguardia
3. Expandirse globalmente, con un enfoque en la región EMEA
La plataforma de Zip ya ha procesado más de 107 mil millones de dólares en gastos de clientes y ha ahorrado a gigantes de la industria como Snowflake, Discover y Sephora más de 4,4 mil millones de dólares en gastos de adquisiciones. La empresa tiene como objetivo revolucionar el gasto empresarial y convertirse en el estándar global para la gestión del gasto B2B.
AI 기반 조달 조정 플랫폼 Zip이 BOND가 주도하는 1억 9천만 달러의 시리즈 D 자금을 확보하여 회사 가치를 22억 달러로 평가받았습니다. 이는 20년 이상 조달 기술에 대한 가장 큰 투자를 의미합니다. 이 자금은 다음과 같은 용도로 사용될 것입니다:
1. Zip의 Procure-to-Pay 제품 라인 추가 개발을 포함한 R&D 노력 가속화
2. 첨단 AI 솔루션을 개발하기 위한 Zip AI Lab 설립
3. EMEA 지역에 중점을 두고 글로벌 확장
Zip의 플랫폼은 이미 1,070억 달러의 고객 지출을 처리하였으며, Snowflake, Discover, Sephora와 같은 업계 대기업에 44억 달러 이상의 조달 비용을 절감하였습니다. 이 회사는 비즈니스 지출을 혁신하고 B2B 지출 관리의 글로벌 표준이 되는 것을 목표로 하고 있습니다.
Zip, la plateforme d'orchestration des achats alimentée par l'IA, a sécurisé 190 millions de dollars dans un financement de Série D dirigé par BOND, valorisant l'entreprise à 2,2 milliards de dollars. Cela marque le plus gros investissement dans la technologie des achats depuis plus de deux décennies. Ce financement sera utilisé pour :
1. Accélérer les efforts de R&D, y compris le développement supplémentaire de la ligne de produits Procure-to-Pay de Zip
2. Établir le Zip AI Lab pour développer des solutions d'IA de pointe
3. S'étendre à l'international, en se concentrant sur la région EMEA
La plateforme de Zip a déjà traité plus de 107 milliards de dollars de dépenses clients et a permis à des géants de l'industrie comme Snowflake, Discover et Sephora d'économiser plus de 4,4 milliards de dollars en dépenses d'approvisionnement. L'entreprise vise à révolutionner les dépenses commerciales et à devenir la norme mondiale en matière de gestion des dépenses B2B.
Zip, die KI-gestützte Beschaffungsplattform, hat 190 Millionen Dollar in einer Serie-D-Finanzierung unter der Leitung von BOND gesichert, was das Unternehmen auf 2,2 Milliarden Dollar bewertet. Dies markiert die größte Investition in Beschaffungstechnologie seit über zwei Jahrzehnten. Die Finanzierung wird verwendet, um:
1. Die Forschungs- und Entwicklungsanstrengungen zu beschleunigen, einschließlich der weiteren Entwicklung der Procure-to-Pay-Produktlinie von Zip
2. Das Zip AI Lab zur Entwicklung von innovativen KI-Lösungen zu gründen
3. Global zu expandieren, mit einem Fokus auf die EMEA-Region
Die Plattform von Zip hat bereits über 107 Milliarden Dollar an Kundenausgaben verarbeitet und Branchenriesen wie Snowflake, Discover und Sephora über 4,4 Milliarden Dollar an Beschaffungskosten eingespart. Das Unternehmen hat sich zum Ziel gesetzt, die Geschäftsausgaben zu revolutionieren und zum globalen Standard für das B2B-Ausgabenmanagement zu werden.
- Secured $190 million in Series D funding, led by BOND
- Valuation increased to $2.2 billion from $1.5 billion in 2023
- Processed over $107 billion in customer spend to date
- Saved customers over $4.4 billion in procurement spend
- Achieved 3x growth across large enterprises this year
- Recognized as a Leader in the IDC MarketScape for Spend Orchestration
- Expanding globally with 200% growth in EMEA region in the past year
- None.
Insights
Zip's
Key financial highlights include:
- Over
$107 billion in customer spend processed through Zip $4.4 billion in procurement spend savings for major clients- 3x growth across large enterprises this year
200% growth in the EMEA region in the past year
The funding will fuel R&D efforts, AI development and global expansion, particularly in EMEA. Zip's rapid growth and high-profile client base, including Snowflake, Discover and Sephora, indicate strong market traction and potential for continued expansion in the
Zip's AI-powered procurement orchestration platform represents a significant technological advancement in the enterprise SaaS space. The platform's key features include:
- Consumer-grade interface for ease of use
- Streamlined workflows across departments
- Integration with legacy enterprise systems
- AI-driven solutions for legal, security, finance and IT teams
The establishment of the Zip AI Lab signals a strong commitment to further innovation. The company's in-house development approach for its Procure-to-Pay (P2P) product line has already gained traction with major enterprises. Zip's recognition as a Leader in the IDC MarketScape for SaaS and Cloud-Enabled Spend Orchestration further validates its technological prowess. The focus on AI integration and seamless connectivity with existing systems positions Zip at the forefront of the procurement technology revolution.
Revolutionary AI-powered platform transforms how global enterprises optimize spending, saving industry giants like Snowflake, Discover, and Sephora over
Zip raises
In today’s global economy where businesses face mounting pressure to optimize spend and mitigate risk, procurement — the process of acquiring goods and services necessary for business operations — has become a critical function. Each year, companies spend trillions of dollars on everything from office supplies and software subscriptions to professional services and marketing agencies. Procurement represents the second largest area of business spend after payroll, yet despite its enormous financial impact, the purchasing process has remained stuck in the past – slow, complex, and riddled with inefficiencies.
“Procurement is broken,” said Rujul Zaparde, Co-founder and CEO of Zip. “Companies are wasting billions of dollars and countless hours navigating byzantine approval processes, dealing with security risks, and manually entering data. Zip has already proven that we can fix that, saving our customers billions of dollars and thousands of hours of time — and our new round of funding will allow us to continue to revolutionize business spending.”
Zip’s platform offers a stunningly intuitive, consumer-grade interface that makes purchasing as easy as online shopping, while ensuring compliance, efficiency, and cost optimization. Zip streamlines complex workflows across departments — from legal and IT to security and finance — seamlessly connecting all teams involved in the procurement lifecycle. This holistic approach has already transformed operations for industry giants like Snowflake, Discover, and Sephora, who have collectively saved over
Just as Salesforce revolutionized customer relationships and Workday transformed employee management, Zip is redefining how businesses interact with suppliers and manage spending. This new funding will fuel Zip’s mission to become the global standard for B2B spend and will be strategically deployed to:
- Accelerate R&D efforts, doubling down on Zip’s approach to building best-in-class procurement software entirely in-house. This includes further development of Zip’s highly successful Procure-to-Pay (P2P) product line, which has seen explosive growth and adoption by major enterprises like Northwestern Mutual, Toast, and Coinbase. The funding will also support expansion into new product lines to address evolving market needs.
- Establish the Zip AI Lab to continue to rapidly develop and deploy cutting-edge AI solutions that integrate effortlessly with legacy enterprise systems. Zip’s existing AI suite has already dramatically improved procurement processes across legal, security, finance, and IT teams.
-
Broaden global expansion with a particular focus on the EMEA region where Zip has already seen over
200% growth in the past year. Zip will leverage its newLondon office and expanded EMEA team to meet surging demand across theUK ,Germany , andFrance . This expansion will solidify Zip's position as the go-to procurement solution for large enterprises worldwide.
“Zip is one of those rare opportunities in enterprise software that doesn’t come along often,” said Jay Simons, General Partner at BOND, who previously served as President of Atlassian (NASDAQ: TEAM). “What sets Zip apart is its relentless focus on customer success and product innovation, which in today’s tough macro environment, is exactly what enterprises need to drive efficiency and rein in costs. The team has built a product so essential that it’s quickly becoming the go-to platform for the world’s biggest companies. We’re confident Zip is primed to be a staple in every Fortune 500 tech stack.”
As Zip continues to push the boundaries of what’s possible in procurement technology, it remains committed to its core vision: to create a world where every business can access the suppliers and resources they need to operate at peak performance. This innovative approach has not gone unnoticed, with Zip recently recognized as a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Spend Orchestration 2024 Vendor Assessment (doc #US51795424, September 2024). With this latest funding round and industry recognition, Zip is poised to redefine the future of B2B spend and cement its position as the global standard for procurement orchestration.
Zip was represented by Goodwin Procter for this financing.
About Zip
Zip is the world’s leading procurement orchestration platform, empowering businesses to accelerate the procurement process, mitigate risk, and drive growth by offering a single front door to unify the teams, tasks, and tools involved in working with suppliers. With Zip, businesses can maximize employee adoption of purchasing policies and increase spend visibility and control. As the leading solution for optimizing business spend, Zip's AI-powered platform is trusted by hundreds of leading enterprises worldwide, including Anthropic, Arm, Canva, Coinbase, Discover, Dollar Tree, Instacart, Lyft, Northwestern Mutual, Prudential, Reddit, Sephora, Snowflake, and Sprouts to maximize the ROI of every dollar. To learn more, visit ziphq.com.
About BOND
BOND is a global technology investment firm that supports visionary founders throughout their entire life cycle of innovation and growth. BOND's founding partners have backed industry pioneers such as Airbnb, Canva, Docusign, DoorDash, Facebook, Instacart, JD.com, Peloton, Plaid, Revolut, Ring, Slack, Snap, Spotify, Square, Stripe, Twitter, Uber, and Waze.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241021142811/en/
Source: Zip
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