Taulia, a dynamic discount and self-service platform for corporations, announced Monday that it has raised $3.2 million from Matrix Partners, with participation from Trinity Ventures and The Angels’ Forum. The new funds will help expand U.S. and European sales of Taulia’s dynamic discount Software as a Service solution.
The company’s SaaS solution allows Global 2000 companies to pay their invoices early, which benefits suppliers who are spared the hassle of financing costs associated with collection cycles in excess of 60 days. In exchange for allowing suppliers to collect money faster using Taulia’s Invoicement Suite, they pay double-digit interest rates.
Launched in 2009, Taulia is a certified SAP partner and has offices in San Francisco and Berlin. Through several strategic partnerships, such as OB10 the global e-Invoincing network, Taulia has been able to market its product far and wide, and the latest round of funds will be used to expand the U.S. and Berlin offices. Taulia CEO Bertram Meyer said via email that the company plans to grow aggressively and double its headcount over the next 15 months.
“Our vision is to become the market-dominating Dynamic Discounting solution in the SAP space and to play a significant part in freeing hundreds of billions in cash from the financial supply chain for the benefit of large buying organizations and their suppliers alike,” said Meyer.
When asked why Matrix has chosen to invest in Taulia now, Josh Hannah, General Partner at Matrix Partners, answered via email: “Matrix is not a thesis driven investor, we weren't looking for a dynamic discounting deal. We found a passionate, experienced and knowledgeable entrepreneurial team and got excited about their vision. We love Software as a Service (SaaS) and think it is continuing to revolutionize enterprise software. We have a fast growing portfolio of investments here, for example Huddle and Hubspot.”
Hannah further explained what drew Matrix Partners to Taulia in a prepared statement: “We see tremendous market opportunity for Taulia by making the financial supply chain more efficient. Large buying organizations earn double-digit returns by investing funds risk-free into their Accounts Payables; meanwhile their suppliers benefit from immediate payment of quickly approved invoices.”
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