SAN MATEO, Calif.--(BUSINESS WIRE)--Tipalti, the leading global payables automation platform, today announced that it has surpassed $8 billion in annual transactions. This milestone was reached as Tipalti more than doubled new customer and business bookings in the first half of 2019 compared to the first half of 2018 and maintained best-in-class customer retention rates of 98%. Tipalti’s momentum was recognized through its inclusion on the Inc. 5000 list of fastest-growing companies in America for the second straight year (ranked #1196), and its ranking by the San Francisco Business Times and Silicon Valley Business Journal as one of the Best Places to Work in the Bay Area for the third year running.
The company saw an increase of 250% in customer bookings in the first half of 2019 compared to the first half of 2018. Tipalti’s FX services revenue increased 103% in this time frame, with their Multi-FX product launch. The company also added ClassPass, Postmates, and Catchpoint Systems to its growing roster of notable customers.
In addition to its ranking on the Inc. 5000 list of fastest-growing companies in the country and the 2019 Best Places To Work in the Bay Area award presented by the San Francisco Business Times and the Silicon Valley Business Journal, Tipalti’s Global AP & Supplier Payments Automation “Built for NetSuite” solution was selected by NetSuite as their 2019 SuiteApp of the Year. Tipalti was also shortlisted for the SaaS Awards’ Best SaaS Product for Business Accounting or Finance, and included in the Spend Matters 50 Procurement Providers to Watch for 2019.
“Tipalti is committed to an aggressive growth trajectory, and we’re very proud of our growing list of accomplishments,” said Chen Amit, CEO and co-founder of Tipalti. “Our strong growth demonstrates the need for solutions like Tipalti to bring best-in-class payables automation solutions for strengthening financial operations. The future looks just as promising.”
Tipalti grew its employee headcount by over 60% between July 2018 and July 2019 at its San Mateo, California and Israel offices. The company also established a new, larger office in Tel Aviv/Herzliya that increased office space by 267% and is currently working on expanding its global headquarters in San Mateo.
For more information, visit https://tipalti.com.
About Tipalti
Tipalti is the only payables automation solution to streamline all phases of the global AP workflow in one holistic cloud platform. Tipalti makes it painless for finance departments to manage their entire supplier payments operation. Leading companies use Tipalti to eliminate up to 80% of their supplier payments workload and accelerate financial close by 25%, scale their businesses efficiently with global growth, and strengthen financial and tax compliance controls. Hundreds of companies trust Tipalti to transform their supplier payment operations including Amazon Twitch, Royal Caribbean, Roku, Zumba, Outbrain, Seeking Alpha, Twitter, GoDaddy, United Language Group, and Foursquare.