Tipalti Continues Rapid Growth, Surpassing $6.5 Billion in Annual Transactions on Global Payables Automation Platform
Doubles new customer growth, ranks on Deloitte’s Technology Fast 500 list, and appoints a GM of Supplier Success and a Chief Compliance Officer
San Mateo, CA, February 12, 2019 – Tipalti, the leading global payables automation platform, today announced that it has surpassed $6.5 billion in annual transactions. This milestone was reached as Tipalti more than doubled new customer and business bookings in the second half of 2018 compared to the second half of 2017 and maintained best-in-class customer retention rates of more than 98%. Tipalti’s momentum was recognized by its inclusion on Deloitte’s Technology Fast 500 list, which identifies the fastest growing technology, media, telecommunications, life sciences, and energy tech companies — both public and private — in North America.
Key hires have also been made with the appointment of Todd McGuire as GM of Supplier Success and Perla Stoeckert as Chief Compliance Officer.
With over 20 years of payments industry and management consulting experience, Todd McGuire joins Tipalti from Worldpay, where he was the Chief Transformation Officer at Worldpay US responsible for delivering and embedding transformational change as well as overall divisional performance, strategy, and M&A. Previously, he was SVP, Corporate Development & Strategy at First Data. At Tipalti, Todd is focused on helping customers improve their supplier experience and maximizing the impact of their payables operation success.
Perla Stoeckert brings more than 15 years of experience in financial services to Tipalti as its Chief Compliance Officer. Prior to Tipalti, Perla served in executive global roles in risk and compliance at OFX, FXCM, and Commonwealth Foreign Exchange (MoneyCorp). She has managed risk and compliance operations across Asia, Australia, Canada, Europe, the Middle East, the U.K., and the U.S and has worked with firms engaged in online payments, funds transfers, foreign exchange, and deposit operations.
“We’re excited to continue developing our strong team during this aggressive growth period,” said Chen Amit, CEO and co-founder of Tipalti. “We are proud of our leadership position in the global payables automation market, which is transforming the traditional accounts payable functions into lean operational centers of excellence for financial organizations looking to scale and expand globally. This is crucial for high-growth businesses that need to eliminate financial operations complexity, so they can focus their talent on accelerating innovation and competitiveness.”
Tipalti grew its employee headcount more than 50% in 2018 and plans to grow by over 50% again in 2019 in both the San Mateo, California and Israel offices.