Tipalti Secures $150 Million in Growth Financing from JPMorgan Chase Bank and Hercules Capital

May 15, 2023 –?Tipalti, the leading global payables automation platform, announced today it has raised $150 million in incremental growth financing from JPMorgan Chase Bank and Hercules Capital, Inc. (NYSE: HTGC). Coming on the heels of a $270 million Series F in 2021 that brought the company’s total funding to over $550 million, this latest raise will enable Tipalti to further invest in product innovation and supporting its customers.

With transactions soaring by 50% in 2022 to a total annualized payments volume of $43 billion, Tipalti’s cloud-based platform automates the entire accounts payable process, making it easy for its more than 3,000 mid-market customers to pay suppliers across over 196 countries. With the support from these new partners, Tipalti will be able to help even more companies that need to manage complex payables operations at scale.

“Hercules Capital prides itself on being the partner of choice for innovative entrepreneurs and companies and Tipalti not only fits this mold, it breaks it,” said Catherine Jhung, Senior Managing Director at Hercules Capital. “From the top tier payables automation platform to the pioneering expertise of its executive team, Tipalti is operating from a position of strength and we are pleased to be partnering with the company to support continued growth.”?

Tipalti also announced that three new executives have joined its C-suite highlighting the company’s commitment to excellence at every level: