Tipalti, the leading global payables automation solution, today announced it raised $150 million at a valuation of more than $2 billion, bringing total funding raised to date to around $280 million for the B2B fintech company.

Led by Durable Capital Partners, the Series E round also includes significant investments from Greenoaks Capital and participation from current investor 01 Advisors. Tipalti will use this additional funding to double-down on its product roadmap, accelerate its growth path, extend its global presence, and increase its market leading position as the preferred solution for high-velocity companies across the globe. This growth will be fueled by increasing developer, product management, customer operations, sales, and business development headcount.

Tipalti comes from the Hebrew expression for "We handled it." Tipalti does just this by providing one comprehensive, global payables automation solution that automates all manual supplier payment processes. Its customers typically wipe out 80% of their payables workload, enabling them to focus on mission-critical initiatives, while doing more with less. Tipalti helps strengthen compliance and financial controls, avoid future AP headcount requirements, accelerate the financial close by 25%, and employ AP best practices.

Every step in the payables process-including self-service supplier management, tax compliance, fraud and regulatory controls, invoice processing and approvals, global payments execution, and payment reconciliation-is fully self-contained and backed with integrated artificial intelligence and machine learning.