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Fintech Payments Platform Tipalti Scores $14M VC Investment

By Roger Aitken | Forbes.com | Sept 19, 2016

Tipalti, a leading provider in the B2B supplier payments space based in Palo Alto, California, has announced a further investment funding round to the tune of $14 million (m) led by early stage venture capital firm by SGVC, which is touted as enabling the firm to “accelerate adoption” of supplier payments solutions to global enterprises.

This latest funding follows the company’s first round of funding that was led by venture capitalist Oren Zeev in 2010 for approximately $3m in funding from private investors. This helped launch the company’s product in 2012. And, subsequently in 2014 there was a B-round of $13m.

Tipalti, which derives from the Hebrew phrase meaning ‘I handled it’, was inspired as a concept by a late night conversation with Chen Amit, CEO and co-founder of Tipalti, and friend and sculptor Dan Reisner.

It is said according to Chen that this concept “exemplifies their approach to the accounts payable space” in that they are focused on handling every step of what was once a manual effort and process. Tipalti is said to make it painless for accounts payable departments to manage their entire global supplier payments operation.

As well as the new funding, Dovi Frances, SGVC’s Managing Partner, is to join the board of directors of Tipalti, the first non-founder of the company to do so.

Read the Full article on Forbes.com Here

Supplier Payments Score With Tipalti Funding Round

By PYMNTS | Sept 15, 2016

The supplier payment solution by FinTech firm Tipalti has attracted venture capitalists. The company announced on Wednesday (Sept. 14) that it closed a $14 million funding round led by SGVC.

SGVC Managing Partner Dovi Frances has also been announced as the latest addition to Tipalti’s board of directors, the company added.

“Thanks to this new funding round, we will expand our product, team and business to increase our market leadership position as the supplier payments automation solution of choice for finance organizations at global enterprises,” said Tipalti CEO and Cofounder Chen Amit in a statement. “We look forward to Dovi Frances joining our board of directors and contributing with his extensive experience in the FinTech world.”

According to its announcement, Tipalti will look to position its accounts payable tool across a broader range of corporate clients, including expanding its breadth of company sizes, industries and geographic regions. The investment will also go towards R&D, product development and customer support.

Tipalti’s sales and marketing efforts will also get a boost from the funding, the firm added.

“We are truly ecstatic to invest in Tipalti and add them to our growing portfolio of marquee FinTech companies who are changing the B2B payments and business finance landscape,” said Frances in a separate statement. “I am looking forward to helping the company accelerate their already significant growth trajectory and to watching them completely transform the way finance departments run their supplier payment operations.”

The $14 million raised follows $13 million in Series B funding secured in 2014, a round led by Wicklow Capital.

Read the Full Article on PYMNTS.COM Here.

SoFi Looks to Raise $500 Million in Latest Test for Fintech

By Peter Rudegeair | Wall Street Journal | Sept 7, 2016

A deal would be one of the largest U.S. fintech funding rounds of the year

Online lender Social Finance Inc. is pitching a new fundraising effort as it looks to buck a recent slump in the industry, according to people familiar with the matter. Privately held SoFi hopes to raise about $500 million in equity to fund new growth initiatives among mass-market borrowers and international markets, according to the people and a presentation reviewed by The Wall Street Journal. The round is likely weeks away…

Read the Full Article on the Wall Street Journal Here.

SkyGiraffe raises $6M for its enterprise mobility platform

By Frederic Lardinois | TechCrunch

SkyGiraffe helps enterprises give their employees access to their line-of-business apps and enterprise data from virtually any device. The company today announced that it has raised a $6 million funding round led by SGVC, with participation from Trilogy Equity Partners and a number of angel investors, including Heroku founder and CEO James Lindenbaum, Lookout founder and CTO Kevin Mahaffey and Parse founder and CEO Ilya Sukhar.

SkyGiraffe does a couple of things. It helps businesses connect and aggregate data from their various on-premises and cloud-based applications and lets them build new apps or bring existing apps to iOS, Android and Windows. The company argues that its approach allows enterprises to bring their cross-platform development cycles down to a day, compared to the months it would take to develop custom apps for iOS and Android, for example…

Read the Full Article Here on TechCrunch.

With $17M in seed funding, RedKix wants to combine the best of email and chat

By Frederic Lardinois | TechCrunch

Lots of startups want to reinvent email, and some, like Slack, occasionally manage to change the way we work. At the end of the day, though, email isn’t going away and company-wide collaboration tools only really work when everybody is on the same platform.

RedKix, which is launching its private beta today, has raised $17 million in seed funding from a group of high-profile investors to bring together the best aspects of Slack and other collaboration tools with the simplicity and ubiquity of email. The company’s funders include Salesforce Ventures, Wicklow Capital, SG VC, Oren Zeev, Ori Sasson (one of the first investors in VMware), and others.

It’s not often that we see startups that raise $17 million in seed funding, but as RedKix CEO and co-founder Oudi Antebi told me, the company needed this kind of backing because of the complexity of the technology it is developing…

Read the Full Article Here on TechCrunch.

SGVC raises $50 mln for second fund

By Alastair Goldfisher | PE Hub | May 11, 2016

Beverly Hills, California-based SGVC has raised a little more than $50 million for its second fund, SG VC Fund II, from 81 investors, according to a regulatory filing.

The firm was founded in 2012 by Managing Partner Dovi Frances as the venture arm of SG, a global advisory firm. His LinkedIn profile says he acquired the SGVC portfolio from SG last year. SGVC invests in early-stage tech companies in Los Angeles, Silicon Valley and Israel and has backed RadPad, SoFi and Sidecar, among others, according to its website.

Read Original Article Here on PE Hub.