What Is Tipalti? We Explain Here
Tipalti is an accounting software and financial technology company. With offices in London, the UK, Vancouver, Canada, Toronto, the Netherlands, and Plano, Texas, in addition to its headquarters in San Mateo, California, Tipalti also has R&D facilities in Glil-Yam, Israel.
Chen Amit and Oren Zeev started Tipalti in 2010, and same year the company introduced its first payment service. According to Amit the company processed payments worth between $1 billion and $1.5 billion annually to about 300,000 payees.
Tipalti announced in August 2018 that its platform served over 3,000,000 payees and handled $5 billion in payments yearly.
Tipalti claimed in August 2019 that they had processed more than $8 billion in annual transactions through their platform, had been named to the Inc. 5000 list for a second straight year, and had had a 250% increase in bookings from the first half of 2018 to the first half of 2019.
Tipalti declared on February 19, 2020, that it has reached $10 billion in annual transactions. This accomplishment comes as Tipalti surpasses 900 clients, more than doubling new client bookings for the year. Additionally, Tipalti hired 240 people in the second half of 2019, including 65 new team members.
Tipalti declared that it had reached $11 billion in annual transactions on July 14, 2020. This accomplishment comes as Tipalti surpasses 1,000 clients and expands by more than 80% compared to the first half of 2019.
The IDC MarketScape: Worldwide SaaS and Cloud-Enabled Midmarket Accounts Payable Applications 2020-2021 Vendor Assessment report recognised Tipalti as a Leader on January 26, 2021.
On February 24, 2021, Tipalti declared that it had expanded annualised transactions to more over $18 billion and boosted revenue by more than 85%.