Zip Receives $100 Million Investment

Zip, the spend management platform, raised $100 million in Series C funding round. The platform's $100 million Series C investment round was realized at a valuation of $1.5 billion. Spend management Zip manages expenses from a single point with purchases made by company employees. CRV, Tiger Global and Y Combinator participated in the investment round. Zip has received a total investment of 181 million dollars to date. Previously, it had 25 million dollars of funding in the Series A investment round. In the Series B investment round, it raised 43 million dollars.

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Zip Will Improve User Experience

Zip will use the investment to attract customers to the company and improve the user experience. The startup was founded in San Francisco by Rujul Zaparde and Lu Cheng. The startup, established in 2020, controls both purchasing and spending processes within the company from a single platform.

The startup has offices in Dallas, Texas, Toronto and San Francisco. Zip is managed by a team of 250 people. The startup consists of two products, Intake-to-Procure and Intake-to-Pay. Intake-to-pay manages invoice payment processes. Intake-to-Procure fulfills purchase requests. The startup offers detailed analysis and reporting on purchases, expenditures and payments. It realizes payments of companies globally.