Zip Raises $43 Million in Series B at a $1.2 Billion Valuation

USA – Zip, a San Francisco, CA-based intake-to-procure solution provider, raised $43m in Series B funding.

The round, which brings total funding to $81m and the valuation to $1.2 billion, was led by YC Continuity with participation from Tiger Global and CRV. The company intends to use the funds to accelerate adoption and talent acquisition, with plans to double employee headcount by the end of 2022.Founded in 2020 by Rujul Zaparde and Lu Cheng, Zip provides an enterprise-grade platform that enables employees to make business purchases with a consumer-style experience. The platform provides pre-built and configurable no-code workflows for any non-technical employee, pre-built connectors to key business systems including ERPs like NetSuite, Workday and others, contract management software such as Ironclad and DocuSign, IT ticketing software such as Jira and ServiceNow; and communication software like Slack and Microsoft Teams. Zip has more than 100 customers, including industry leaders such as Canva, Snowflake, Roblox, Coinbase, Airtable, Toast, Webflow and Databricks. The company has more than 130 employees – with top-tier engineers from Silicon Valley tech innovators like Airbnb, Meta, Google and Square. 25/05/2022