Taulia, a company that manages invoices and payments for buying organizations, has raised $18 million in Series C funding. Led by German investor Klaus Hommels and joined by previous investors Matrix Partners, Trinity Ventures, TELUS Ventures and DAG Ventures, this brings Taulia’s total funding to $36 million.
Using Taulia, companies can pay invoices early through the company’s electronic invoicing platform, which connects to any third-party e-invoicing network. The buying organizations then benefit from dynamic discounting after suppliers receive early payment. CEO Bertram Meyer tells me the funding will go toward pushing expansion in Europe, growing sales teams, and R&D for more connectivity with ERP systems.
“The penetration of people that use dynamic discounting is still below 5 percent, even though it is a solution that would literally make sense for everyone. So we’re still at the very early stages,” Meyer says.
Taulia faces competition from invoicing companies such as C2FO, Ariba (acquired by SAP) and Xign (acquired by J.P. Morgan). But Meyer says Taulia has a couple of key differences, which include free service for suppliers, a focus on dynamic discounting and the ability to access all invoice expenditures and accelerate payments to receive the supplier discount.
“We optimize the entire annual expenditure, meaning all invoices for all suppliers for our customers,” Meyer tells me. “That’s a unique differentiator and we can do that because of our deep back-end integration.”
Taulia has about 120,000 active buyer relationships, each with 10,000 to 20,000 suppliers. Some notable customers include Coca-Cola, Pacific Gas & Electric, Hallmark and John Deere.
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