Fintech unicorn Tipalti has raised $200 million in debt funding from Hercules Capital. The company plans to use this money to speed up its work in artificial intelligence (AI) and grow in international markets.
Tipalti also shared that it has now crossed $200 million in annual recurring revenue (ARR), showing strong growth in its business.
The deal happened soon after Tipalti bought Statement, a startup that focuses on treasury automation using AI technology.
With this acquisition, Tipalti has launched an updated version of Tipalti AI. It now uses intelligent, context-aware AI agents to handle repetitive tasks, while still keeping humans in control for important decisions like payments and approvals.
Tipalti’s new AI tools include a Reporting Agent that creates custom dashboards from simple text prompts, a Tax Form Scan Agent that checks compliance automatically, and a Purchase Request Agent that makes procurement faster and easier.
There’s also a Branded Experience Agent that allows companies to personalize payee onboarding while still adhering to all the required rules.
Tipalti has improved its AI Assistant, a chat-based tool that gives finance teams quick answers to complex questions.
By using advanced reasoning, the assistant helps avoid time-consuming manual steps and provides valuable insights from real-time data.
“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,” said Chen Amit, Tipalti’s co-founder and CEO. “As trust and reliability are paramount in our business, we’re proud to help mid-market finance teams scale smarter with intelligent automation.”
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