Tipalti Accelerates Steep Growth Trajectory, Surpassing $5 Billion in Annual Transactions and 3 Million Suppliers on Payables Platform
Tipalti appoints Sarah Dickens Spoja as CFO and recognized as Inc. 5000 Company
San Mateo, CA, August 21, 2018 – Tipalti, the leading global payables automation platform, today announced that it has surpassed $5 billion in annual transactions, with over 3 million suppliers onboarded on the platform. These milestones came as Tipalti more than doubled new business bookings in 1st half of 2018 versus 1st half of 2017.
Tipalti’s momentum has been further bolstered through its recognition as an Inc. 5000 company ranking #1559 on the list and the crucial hire of Sarah Dickens Spoja as CFO. A veteran of the financial industry, Sarah has joined Tipalti from KKR Capstone where she worked with portfolio companies in the Financial Services and Retail Sectors, including First Data Corporation and Academy Sports + Outdoors. During her 4 years at First Data Corporation, Sarah was pivotal in the acquisition of Clover Network Inc., a mobile POS merchant processing solution, and helping to scale the start-up and commercialize the product through First Data’s major bank of relationships in the US. Prior to joining KKR, Sarah worked at Bain & Company in Boston and Sydney. She holds a B.A. from Williams College in both Mathematics and Economics and an M.B.A. from Stanford University Graduate School of Business.
“We’re thrilled to have Sarah join our team during an extremely exciting time for the business,” said Chen Amit, CEO and co-founder of Tipalti. “Her deep finance and operational expertise and knowledge of scaling companies will be crucial for us as we continue making fast headway toward our mission of freeing finance from manual payables operations, so that CFOs can focus finance on driving strategic impact for their businesses. We’ve only just started to scratch the surface of this $90 billion global market and our dedication to transforming AP will continue to fuel our ongoing success.”
During this period of rapid growth, including Tipalti’s most recent $30 million Series C round of funding in February, the fintech provider has also moved into a new office space in San Mateo to accommodate the expanding team. The new space almost doubles that square footage of the previous office and maintains Tipalti’s enjoyable work culture, evidenced by its recognition earlier this year by the San Francisco Business Times and the Silicon Valley Business Journal as a “2018 Bay Area Best Places to Work”. The winners were rated the highest by their employees in such areas as fun, collaborative culture, compensation, benefits and other amenities as well as management practices.