Slope's technology covers the entire B2B customer payments journey, from customer onboarding to risk assessment and reconciliation. The company also offers financing for its customers' clients, providing credit directly through its payments system. Slope's approach is based on obtaining "clean data" from its customers, which is then used to assess a B2B buyer's creditworthiness and fraud risk. The company has also developed its own proprietary large language model (LLM) that is trained on public data to accurately identify risk.
Key takeaways:
- Slope, a San Francisco-based AI startup, is developing a B2B payments tracking and receiving platform that uses its own "rules-based" tech and OpenAI's GPT-3.5 Turbo to ensure companies receive their payments on time.
- The company recently raised $30 million in an equity round led by Union Square Ventures, bringing its total funding to date to $187 million.
- Slope's technology covers the entire B2B customer payments journey, from customer onboarding and risk assessment to reconciling, and includes an online payments and invoicing tool that accepts credit card, ACH, and international payments.
- The company's approach to understanding and de-risking B2B payments relies on obtaining "clean data" from its enterprise customers, which is then used to assess a B2B buyer's creditworthiness and fraud risk.