In Freshers Pakkam

Stampli Inc., a startup that specializes in AI-powered tools for streamlining invoice processing and helping companies manage their bill payments, recently announced that it has secured $61 million in a fresh funding round. The funding round was led by funds managed by Blackstone Inc., though the exact valuation of the company following this investment was not disclosed.

Stampli’s platform leverages artificial intelligence to automate the invoice processing workflow, making it more efficient and enabling businesses to handle their vendor payments more effectively. The CEO of Stampli, Eyal Feldman, noted that while AI has gained significant attention in recent times, the company has been using AI for a considerable period.

With this new injection of funds, Stampli has raised more than $148 million since its establishment in 2015. The startup intends to use this capital to expand its workforce from 250 employees to approximately 350. Additionally, the company is also contemplating and preparing for a potential initial public offering (IPO) in the future.

Several existing investors participated in this funding round, including Insight Partners, SignalFire, and Bloomberg Beta (the venture capital arm of Bloomberg LP). This latest funding will likely support Stampli in further developing its AI-driven tools and growing its market presence in the field of invoice and bill management for businesses.

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