Startup
Zip
Enterprise procurement and accounts payable platform that sits in front of the ERP, routing every purchase request through approvals, vendor onboarding and payment, now with AI agents across intake-to-pay.
| Founded | 2020, San Francisco |
|---|---|
| Founders | Rujul Zaparde (CEO), Lu Cheng (CTO), Felix Meng; Zaparde and Cheng were product leaders at Airbnb |
| Stage | Series D |
| Total funding | About $371m |
| Last round | Series D, $190m, October 2024, led by Bond with DST Global, Adams Street and Alkeon. Valuation $2.2bn. |
| What it does | Purchase intake, approval workflows, vendor management, contract and risk review, accounts payable and payments, with agents that draft, route and reconcile |
| Traction | Customers include OpenAI, Anthropic, T-Mobile, Mars, Sephora, Discover and Dollar Tree; more than $500bn in spend processed and $6.8bn saved for customers |
| Pricing | Not published; enterprise contracts |
| Markets | US, global enterprise |
| Peers | Coupa, Ramp, Tipalti, Basware, Procurify |
Why it matters
Zip raised $190 million at a $2.2 billion valuation in the largest procurement software round in two decades and counts OpenAI and Anthropic among its customers. It has made intake-to-pay a category of its own, sitting between the ERP and every purchase a company makes.
Accountio coverage
Zip Introduces AI Agents to Automate Complex Accounting Workflows
Updated September 2026.
Part of Accountio’s accounting technology coverage.
