In the modern global economy, where businesses are under increasing pressure to optimise spending and manage risks, procurement has taken on a vital role. This process – responsible for sourcing the goods and services that keep operations running – sees companies spending trillions annually on everything from office supplies to software and marketing services. Despite being the second largest area of business expenditure after payroll, procurement processes have remained outdated, often plagued by complexity, inefficiency, and slow execution.

“Procurement is broken,” said Rujul Zaparde, Co-Founder and CEO of Zip. “Companies are wasting billions of dollars and countless hours navigating byzantine approval processes, dealing with security risks, and manually entering data. Zip has already proven that we can fix that, saving our customers billions of dollars and thousands of hours of time – and our new round of funding will allow us to continue to revolutionize business spending.”

Zip’s platform offers a stunningly intuitive, consumer-grade interface that makes purchasing as easy as online shopping, while ensuring compliance, efficiency, and cost optimisation. Zip streamlines complex workflows across departments – from legal and IT to security and finance – seamlessly connecting all teams involved in the procurement lifecycle. This holistic approach has already transformed operations for industry giants like Snowflake, Discover, and Sephora, who have collectively saved over $4.4 billion in procurement spend through Zip’s platform in less than four years. To date, over $107 billion in customer spend has been processed through Zip, and Zip has achieved 3x growth across large enterprises just this year.

Just as Salesforce revolutionized customer relationships and Workday transformed employee management, Zip is redefining how businesses interact with suppliers and manage spending. This new funding will fuel Zip’s mission to become the global standard for B2B spend and will be strategically deployed to:

Accelerate R&D efforts, doubling down on Zip’s approach to building best-in-class procurement software entirely in-house. This includes further development of Zip’s highly successful Procure-to-Pay (P2P) product line, which has seen explosive growth and adoption by major enterprises like Northwestern Mutual, Toast, and Coinbase. The funding will also support expansion into new product lines to address evolving market needs.

Establish the Zip AI Lab to continue to rapidly develop and deploy AI solutions that integrate effortlessly with legacy enterprise systems. Zip’s existing AI suite has already dramatically improved procurement processes across legal, security, finance, and IT teams.

Broaden global expansion with a particular focus on the EMEA region where Zip has already seen over 200% growth in the past year. Zip will leverage its new London office and expanded EMEA team to meet surging demand across the UK, Germany, and France. This expansion will solidify Zip's position as the go-to procurement solution for large enterprises worldwide.

“Zip is one of those rare opportunities in enterprise software that doesn’t come along often,” said Jay Simons, General Partner at BOND, who previously served as President of Atlassian. “What sets Zip apart is its relentless focus on customer success and product innovation, which in today’s tough macro environment, is exactly what enterprises need to drive efficiency and rein in costs. The team has built a product so essential that it’s quickly becoming the go-to platform for the world’s biggest companies. We’re confident Zip is primed to be a staple in every Fortune 500 tech stack.”

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