Afternoon Coffee: Tipalti raises $270 million; Coupa, Accenture invest in supply-chain specialist Interos; on-demand manufacturing provider Xometry acquires Thomasnet.com

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The AP automation specialist Tipalti announced that it has raised $270 million in a series F funding round. Tipalti said it will invest in its product roadmap, customer operations and global financial operations. Read more about Tipalti and its solution’s strengths/weaknesses in Spend Matters’ Vendor Analysis series.

The round was led by G Squared, along with new investors Marshall Wace and Counterpoint Global (Morgan Stanley), in addition to current investors Zeev Ventures, Durable Capital Partners, 01 Advisors and others.

Check out Spend Matters’ 5-step “Procurement Technology Buyer’s Guide” for tech-selection tips.

“This latest investment will enable Tipalti to add more to our product lines and capabilities in the next 18 months than we have over the past 10 years combined,” Tipalti co-Founder and CEO Chen Amit said in a statement. “We are on a journey to transform financial operations, relieve finance leaders from those mundane, cumbersome, risky tasks, and elevate the financial capabilities for high velocity organizations to rival those of the Fortune 5000.”

Tipalti participates in Spend Matters’ SolutionMap rankings for AP Automation/Invoice-to-Pay vendors. It ranks as a Value Leader for small and large enterprises. Tipalti also is on Spend Matters’ list of “50 Procurement Providers to Know.”

Next week, Tipalti is sharing insights on how businesses can choose the right procurement technology for their operations. Sign up here for the webinar, to be held Wednesday, Dec. 15 at 8 a.m. US Pacific time/11 a.m. US Eastern/4 p.m. in the UK.

Coupa and Accenture invest in Interos

The global consultancy Accenture and the business software provider Coupa have joined a $100 million funding round for Interos, an operational resiliency firm that gives visibility into supply chains and risk.

The series C round was led by the venture capital firm NightDragon, along with Kleiner Perkins and Venrock. Terms of the deal from Accenture Ventures and Coupa Ventures were not disclosed.

“While some of the recent supply chain disruptions might be unique to Covid or one-time attacks, the lessons to businesses will have long-term effects,” Coupa said in a statement. “Understanding supply chain risk has been elevated to a core C-suite priority.”

“Organizations need a better way to understand not only their own cybersecurity vulnerabilities, but potential risks across the entire scope of their supply chains,” Accenture’s Kelly Bissell, who leads Accenture Security globally, said in a separate statement. “With Interos, we can help our clients see the typical ‘blind spots’ in their global supply chains.

Read more about Accenture in our PRO analyst coverage of procurement services firms. And get details on its specific abilities as a global consultancy in our Procurement Services Market Directory.

Xometry acquires Thomasnet.com

Xometry, an on-demand marketplace for manufacturing, announced its $300 million acquisition of Thomasnet.com, a provider of solutions for product sourcing, supplier selection and digital marketing.

“Xometry and Thomas share a common mission of championing the digital transformation of the manufacturing industry, one of the largest sectors of the global economy and the foundation for innovation everywhere,” Xometry CEO Randy Altschuler said in a press release. “Thomas brings strong brand equity, trusted and extensive relationships, proprietary data and advanced full-funnel marketing services – assets that perfectly complement our digital marketplace. Together, we will introduce new services, cross-sell to our combined base and expand our suite of products, particularly in fintech and digital marketing.”

How do you find the right procurement technology and vendor for your company? Spend Matters’ 5-step “Procurement Technology Buyer’s Guide” can help — with how-to documents, checklist templates and other tips.