Tipalti, the leading global payables automation platform, announced it grew its revenue by over 85% in Q4 2020 relative to Q4 2019. Tipalti continued its rapid growth surpassing $18 billion in annualized transactions in the second half of 2020, up from $11 billion in the first half of the year.
The company grew its revenue and workforce rapidly, while maintaining its industry-leading 98% customer retention rate.
Tipalti added 160 employees in 2020, bringing the total number of employees to over 400 globally. It plans to hire an additional 350 employees in 2021. Recent notable hires include the appointment of Doug Inamine as Chief Human Resources Officer (CHRO) and Amisha Gandhi as Senior Vice President of Marketing.
Doug Inamine brings to Tipalti his substantial prior experience leading the HR function in private and public multinational technology companies. Prior to Tipalti, he was the CHRO for Coupang, an e-commerce start-up based in South Korea, where he led the Human Resources team through an aggressive growth phase as the company expanded its global footprint. He previously served as the Chief People Officer for Kabam, a mobile gaming startup.
Amisha Gandhi brings more than 15 years of marketing and communications experience to Tipalti in her role as SVP of Marketing. Prior to Tipalti, she was Vice President of Influencer Marketing & Communications at SAP. At SAP, she pioneered the Global Influencer Marketing program, developing it from a pilot program to a full-scale marketing function across the company. Gandhi will lead Tipalti’s marketing team in strategy and execution across North America.
“Tipalti’s growth is a clear indication that businesses are increasingly digitizing their finance operations to support remote work and scalability, which will continue long after the pandemic,” said Chen Amit, CEO and Co-founder of Tipalti. “We are proud to support our customers as they modernize their financial operations by automating the entire payables process to make it easier, more efficient, and safer.”
Tipalti raised a $150M Series E funding round in September 2020 to help accelerate growth, bringing its valuation to over $2 billion.
Tipalti was also named a leader in both the IDC Marketscape: Worldwide SaaS and Cloud-Enabled Midmarket Accounts Payable Applications 2020-2021 Vendor Assessment report and in the Spend Matters AP Automation SolutionMap.
Tipalti’s achievements last year were recognized with multiple awards, including:
• Inc. 5000 fastest-growing private companies list and the Deloitte 500 fastest growing technology companies list for the third consecutive year in a row, making Tipalti one of only 24 companies to have achieved this honor
• TrustRadius’ 2021 Best AP Automation Solution award
• APPEALIE SaaS Customer Success award
• Cloud Awards’ Best SaaS Business Accounting or Finance Solution award
• CPA Tech Advisor Innovator of the Year award
• 2021 Fortune Best Workplaces in the Bay Area award