eInvoicing Firms Celebrate – Taulia Raises More Funding, Tungsten Share Price Jumps

We're still catching up on news from during our week in the Alps, and one interesting announcement came from eInvoicing and supply chain finance firm Taulia. It raised $46 million in financing, which Spend Matters sees as encouraging news for 2016.

As our US site reported:"The recent Series E financing was led by Zouk Capital. Taulia said the new investment allows the financial supply chain business to “accelerate its rapid expansion,” the company’s press release stated. It also brings total funding for Taulia to more than $130 million". That suggest s a pretty healthy overall valuation.

Zouk Capital CEO Samer Salty said Taulia was a clear match for its investment philosophy of backing companies with high growth potential that use technology to create efficiency. Taulia reports it continues to increase its top line annually by more than 100%.

Jason Busch, founder and head of strategy for Spend Matters in the US, said the fact that Taulia was founded by technologists who truly understand ERP, purchase to pay (P2P) and supplier connectivity gives the provider a critical advantage in the market. There is more from our US site here if you're interested.

We also reported here that the firm had won a contract with Surrey County Council, one of the first UK local authorities to award such a contract and an important bridgehead into the UK public sector. As we approach the deadline for mandatory eInvoicing imposed by the EU, more public bodies will no doubt be looking at similar initiatives during 2016.

But January has also been a good month for other eInvoicing firms. London-based (but highly international) Tungsten saw their share price rise by no less than 50% even as markets generally fell. There seemed to be no single trigger, but after a difficult 2015 in terms of the valuation, their management will be relieved to see it moving in the right direction again; that should also increase customer (and prospective customer) confidence in the firm and their products.

We'll have more on both these firms and others in this market shortly - we certainly see eInvoicing and supply chain finance as current "hot topics", with more procurement leaders and organisations getting to grips with the opportunities that may be available here through 2016.

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