Finance automation platform Tipalti said Tuesday it secured $200 million in growth financing from Hercules Capital Inc. to accelerate investment in artificial intelligence and expand its global reach.
The funding follows Tipalti’s recent acquisition of Statement, an AI-driven treasury automation startup, and the rollout of the next generation of its AI platform. The upgraded system features context-aware AI agents designed to automate finance tasks, surface real-time insights and give teams more time to focus on strategic priorities.
“Crossing over the $200 million ARR threshold is a testament to both the value we deliver to our customers and the growing urgency for finance operations efficiency globally,” Tipalti CEO and co-founder Chen Amit said in a statement.
Hercules Capital, a longtime partner of Tipalti, described the company as a rare mix of strong growth and innovation. “Their proven track record of pairing strong growth with meaningful product innovation makes them a rare company,” said Catherine Jhung, senior managing director at Hercules Capital.
Tipalti’s AI agents automate reporting, supplier onboarding, purchase requests and branded payee experiences while giving finance teams the ability to review and override critical approvals and payments. The company said the expanded platform helps eliminate repetitive tasks while maintaining compliance and regulatory controls.
More than 5,000 companies, including Calm, Udemy, AG1 and AppLovin, use Tipalti’s services, according to the company. Tipalti said it surpassed $200 million in annual recurring revenue, increased its customer base by 30 percent year over year and is processing $75 billion in annualized payments across North America, Europe and other global markets.
Lantern Community Services, a U.S.-based customer, said the platform has streamlined its operations significantly. “With invoice capture and real-time reporting, my team has complete visibility into approvals, coding history and potential errors,” said Kanan Mammadov, vice president of procurement.
Founded in 2010, Tipalti partners with Citi, Wells Fargo, JPMorgan Chase and Visa to deliver payments in more than 120 currencies across 200 countries and territories.