Supplier Payments Platform Surpasses Two Billion Transactions Under Management Annually

Palo Alto, Calif. – April 5, 2016 – Tipalti, provider of the leading supplier payments automation platform, has announced the appointment of Steve Sovik as Chief Revenue Officer. The company also reached a new milestone when it surpassed $2 billion in transactions under management annually by the end of 2015, with total revenue growth of 200 percent from 2014.

In his new role, Sovik will be responsible for leading all of Tipalti’s global revenue-related activities, including Tipalti’s sales, sales operations, customer success, and channel organizations. Prior to Tipalti, Sovik spent five years at Coupa Software as SVP Sales, where he led the firm from an early startup to a leader in the Spend Optimization space. Under Sovik’s sales leadership, Coupa experienced rapid revenue growth, leading to recognition on both the Deloitte’s Technology Fast 500™ and Inc. 5000 America’s Fastest-Growing Private Companies lists. Prior to Coupa, Sovik held a variety of executive sales positions at Oracle, Siebel, and SupportSoft, specializing in ERP, supply chain management, and CRM solutions.

“As we continue to expand our customer base across different industries, company sizes, and regions, it’s critical that our rapidly growing company has top leadership talent in place to drive our long-term success,” said Chen Amit, Co-founder and CEO of Tipalti. “With 24 years of industry experience with some of the most respected firms in the enterprise software space, Steve brings enormous insight and leadership to our team, which will prove invaluable in our continued global expansion.”

In 2015, Tipalti grew 200% year-over-year while maintaining a 99 percent customer-retention ratio. Tipalti has amassed over $2 billion in transactions under management annually, with over 600,000 payees.