By Anshika Mathews · AIM Media House
"Procurement is broken," asserts Rujul Zaparde, co-founder and CEO of Zip. “Businesses waste billions navigating cumbersome approval systems and manually entering data.
We're here to change that.” In a pivotal step toward revolutionizing procurement technology, Zip has announced a landmark $190 million Series D funding round , boosting the company’s valuation to $2.2 billion .
The funding round was led by BOND , with participation from new investors DST Global , Adams Street , and Alkeon , along with continued support from existing investors Y Combinator and CRV .
“Zip is one of those rare opportunities in enterprise software that doesn’t come along often,” said Jay Simons , General Partner at BOND and former President of Atlassian .
“What sets Zip apart is its relentless focus on customer success and product innovation, which in today’s tough macro environment is exactly what enterprises need to drive efficiency and rein in costs.
The team has built a product so essential that it’s quickly becoming the go-to platform for the world’s biggest companies.
We’re confident Zip is primed to be a staple in every Fortune 500 tech stack.” This funding represents not only a significant milestone for Zip but also the largest investment in procurement technology in over two decades.
It highlights the trust of Zip’s clientele, who have relied on the platform to transform their procurement processes and who continue to grow alongside the company in their procurement orchestration journeys.
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