Zip

About Zip

Zip is an intake and procurement orchestration platform that streamlines purchase requests and automates purchase order and invoice management across organizations. By providing early visibility into spending and integrating with existing tech stacks, Zip enhances compliance and reduces unmanaged spend, resulting in measurable cost savings.

```xml <problem> Many organizations struggle with inefficient and fragmented procurement processes, leading to a lack of visibility into spending, increased unmanaged spend, and compliance issues. Employees often face complex and disjointed purchase request workflows, while procurement teams lack the tools to effectively manage purchase orders and invoices. This results in delayed purchasing cycles, increased risk, and missed opportunities for cost savings. </problem> <solution> Zip provides a unified intake-to-procure platform that streamlines the entire procurement process, from initial purchase request to invoice management and payment. The platform guides employees through any purchase request process, ensuring compliance and providing early visibility into spending. By integrating with existing systems, Zip enables cross-functional efficiency, allowing approvers to review requests within their preferred tools. Furthermore, Zip proactively mitigates third-party risk through robust vendor management capabilities. Embedded AI capabilities save time, reduce errors, and drive better decision-making throughout the procurement lifecycle. </solution> <features> - Guided intake process for all purchase requests, ensuring completeness and compliance - Automated purchase order (PO) and invoice management - Integration with existing ERP, CRM, and other business systems - Vendor management module for risk assessment and compliance - AI-powered decision making for spend optimization - Real-time visibility into spend across the organization - Customizable workflows and approval routing - Role-based access control and security features </features> <target_audience> Zip targets enterprises, mid-market companies, and startups seeking to streamline their procurement processes, gain better visibility into spending, and improve compliance. </target_audience> <revenue_model> Not enough information to provide the revenue model. </revenue_model> ```

What does Zip do?

Zip is an intake and procurement orchestration platform that streamlines purchase requests and automates purchase order and invoice management across organizations. By providing early visibility into spending and integrating with existing tech stacks, Zip enhances compliance and reduces unmanaged spend, resulting in measurable cost savings.

Where is Zip located?

Zip is based in San Francisco, United States.

When was Zip founded?

Zip was founded in 2020.

How much funding has Zip raised?

Zip has raised $371.3M.

Location
San Francisco, United States
Founded
2020
Funding
$371.3M
Employees
668 employees
Investors
BONDDst GlobalTiger GlobalY CombinatorFjorFogSV AngelTwenty Two Ventures

Zip

10
Relative Traction Score based on online presence metrics compared to companies in the same age group.

Executive Summary

Zip is an intake and procurement orchestration platform that streamlines purchase requests and automates purchase order and invoice management across organizations. By providing early visibility into spending and integrating with existing tech stacks, Zip enhances compliance and reduces unmanaged spend, resulting in measurable cost savings.

ziphq.com20K+
Founded 2020San Francisco, United States

Funding

No specific funding rounds found.

Total Funding

$371.3M

Backed by

Y CombinatorAdams Street PartnersBONDDst GlobalFjor

Team (500+)

No team information available.

Company Description

Problem

Many organizations struggle with inefficient and fragmented procurement processes, leading to a lack of visibility into spending, increased unmanaged spend, and compliance issues. Employees often face complex and disjointed purchase request workflows, while procurement teams lack the tools to effectively manage purchase orders and invoices. This results in delayed purchasing cycles, increased risk, and missed opportunities for cost savings.

Solution

Zip provides a unified intake-to-procure platform that streamlines the entire procurement process, from initial purchase request to invoice management and payment. The platform guides employees through any purchase request process, ensuring compliance and providing early visibility into spending. By integrating with existing systems, Zip enables cross-functional efficiency, allowing approvers to review requests within their preferred tools. Furthermore, Zip proactively mitigates third-party risk through robust vendor management capabilities. Embedded AI capabilities save time, reduce errors, and drive better decision-making throughout the procurement lifecycle.

Features

Guided intake process for all purchase requests, ensuring completeness and compliance

Automated purchase order (PO) and invoice management

Integration with existing ERP, CRM, and other business systems

Vendor management module for risk assessment and compliance

AI-powered decision making for spend optimization

Real-time visibility into spend across the organization

Customizable workflows and approval routing

Role-based access control and security features

Target Audience

Zip targets enterprises, mid-market companies, and startups seeking to streamline their procurement processes, gain better visibility into spending, and improve compliance.

Revenue Model

Not enough information to provide the revenue model.

Sources:

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Zip - Funding: $371.3M | StartupSeeker