The company plans to use the funds to expand operations and its business reach. Stampli provides an AP automation platform that centralizes accounts payable communications, documentation, and payments. The company's AI, Billy the Bot, learns an organization’s patterns to automate various processes, reduce manual data entry, and identify duplicate invoices. Stampli, which was launched in 2015, currently serves 1,300 accounts payable automation customers.
Key takeaways:
- Stampli, an AI-powered accounts payable automation company, has raised $61M in Series D funding, bringing its total funding to over $148M.
- The funding round was led by Blackstone and included participation from Insight Partners, SignalFire, Bloomberg Beta, and NextWorld Capital.
- The company plans to use the funds to expand operations and increase its business reach.
- Stampli's platform integrates accounts payable communications, documentation, and payments, and its AI, Billy the Bot, automates various tasks to reduce manual data entry.