Zip Raises $190M in Series D at $2.2B Valuation
Zip empowers businesses with an AI-powered platform that enhances procurement processes by unifying various components and offering insights to drive better decision-making.
Company Name: Zip
Location: San Francisco, CA
Sector: AI, Procurement Orchestration
Funding Details: Raised $190M in Series D funding at a $2.2B valuation. The round was led by BOND, with participation from DST Global, Adams Street, and Alkeon, alongside existing investors Y Combinator and CRV.
Purpose of Investment: The funds will be used to:
- Accelerate R&D efforts.
- Establish the Zip AI Lab.
- Broaden global expansion.
Product and Innovation:
Led by CEO Rujul Zaparde, Zip provides an AI-powered procurement orchestration platform that enables businesses to streamline the procurement process, mitigate risks, and foster growth. The platform offers a single dashboard that unifies teams, tasks, and tools involved in supplier management, improving employee adoption of purchasing policies and increasing spend visibility and control.
As a solution for optimizing business spend, Zip’s platform is widely used by enterprises around the world, including Anthropic, Arm, Canva, Coinbase, Discover, Dollar Tree, Instacart, Lyft, Northwestern Mutual, Prudential, Reddit, Sephora, Snowflake, and Sprouts.
About the Company: Zip empowers businesses with an AI-powered platform that enhances procurement processes by unifying various components and offering insights to drive better decision-making. The company continues to focus on innovation with the establishment of the Zip AI Lab and global expansion plans to serve a broader range of enterprises across the world.