Afternoon Coffee: Stampli raises $50 million; Manufacturing sustainability scores improve; Glantus gets $14 million and lists on London Stock Exchange

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Stampli, an accounts payable (AP) automation provider, secured a $50 million round of funding, according to the website Insight Partners led the arrangement.

The Stampli AP automation system handles the end-to-end invoice workflow by putting invoice-connected communications, paperwork and history into one place. It offers a “collaborative workspace” for AP workforces in addition to approvers, said. This latest round of funding brings the total funding to more than $87 million for Stampli, which began in Israel and also operates out of Mountain View, California.

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"The $50 million raise confirms the excitement and growth surrounding the AP automation market, which includes B2B payments,” Spend Matters’ Founder Jason Busch said. “For many, AP is a Trojan horse to get to payments, but generally for businesses beyond $25 million to $50 million in revenue, there is significant value to automating the AP process alone. Stampli focuses on smaller businesses within the SMB space compared with those covered in Spend Matters SolutionMap for AP Automation, but we hope to cover it in the future.

"Start-up nation (Israel) has become the proving ground of SaaS start-ups and emerging technology in AP automation and B2B connectivity,” Busch said. “Stampli's $50 million raise comes on the heels of Tipalti's raise (and recent acquisition). Tipalti also started in Israel. In addition, Israel is home to Nipendo, another specialist in B2B connectivity (a best-kept secret). As these types of tech firms mature, they generally move their headquarters to the US, but the seed of innovation in Israel in this market is clearly worth noting."

The Sustainability Consortium report finds that manufacturing sustainability scores improve

The Sustainability Consortium (TSC) released its THESIS assessment of product manufacturers, showing that sustainability improved 38% between 2016 to 2020. Scores indicate that performance even improved in 2020, showing that companies continue to pursue sustainability improvements despite the challenges of the global pandemic.

In a press release announcing the report, TSC said it assessed more than 1,700 manufacturers representing over $900 billion in consumer product sales. TSC looked at product and supply chain sustainability using TSC’s THESIS Index. Over the years, TSC found improvements in:

  • carbon and climate
  • water use
  • air quality
  • worker health and safety
  • managing biodiversity in sourcing

TSC's Chief Executive, Euan Murray, said in the press release: “Creating resilient, net-zero, circular, sustainable products and supply chains has never been more critical. And in spite of the headwinds of 2020, companies continue to step up. The THESIS data we share in this report shows ongoing improvements in supply chain transparency and sustainability. The results are better than they have ever been.”

AP automation provider Glantus receives $14 million and lists on London Stock Exchange

Glantus, an AP automation solution provider, announced a $14 million round of funding and admission to the AIM market of the London Stock Exchange.

Glantus’ technology platform layers onto existing data systems while transforming and analyzing data to improve finance automation.

See our PRO analyst coverage here: Glantus: Vendor Analysis — Solution overview for AP automation, roadmap, Glantus’ competitors, tech selection tips, strength/weakness.

On admission to the London Stock Exchange, its market capitalization will be approximately $52 million, according to a press release.

“We’re delighted to announce our successful fundraise and admission to AIM,” Maurice Healy, Founder and CEO of Glantus, said in the press release. “It is an important step in our development and provides an excellent platform for expansion. Based on growth forecasts for the accounts payable automation market and an acceleration of digital business initiatives, we are extremely well placed to capitalize on the investment by companies in finance automation and analytics.”

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