Zip, the world’s only intake-to-pay platform, announced its $100 million in a Series C VC funding round with investment from Y Combinator, CRV and Tiger Global.
This brings Zip’s total funding to $181 million with its prior seed, $25 million Series A and $43 million Series B rounds.
Zip also announced its product launch of Zip Intake-to-Pay, extending its industry-first Intake-to-Procure platform for modern spend approvals to provide Procure-to-Pay (P2P) capabilities.
With new purchase order (PO) management, accounts payable (AP) automation and global B2B payments functionality, Zip provides a unified platform for the end-to-end procurement lifecycle.
Zip’s latest funding will allow the company to accelerate product and user experience innovations to increase employee adoption across its customer base, including new applications of generative AI that maximize efficiency and synthesize insights across the intake-to-pay process.
Zip now boasts hundreds of customers globally including Snowflake, Coinbase, Northwestern Mutual, Canva, Webflow and Databricks—ranging from startups to Fortune 500 public companies.
Zip Intake-to-Pay users are already seeing significant benefits to their bottom line with nearly $1 billion per month being approved in Zip and $937 million in total savings tracked through the Zip platform to date.
In the last year, Zip has grown from 60 to 250 employees to support its customer and product growth. Zip will expand its footprint with a new office in Dallas, Texas, adding to its existing headquarters in San Francisco and office in Toronto, Canada.