Zip raises $43 million in Series B at $1.2 billion Valuation
ZipThe Series B funding for ‘’, a San Francisco-based provider of intake-to-procure solutions, was $43m. The round, which brought total funding up to $81m and a valuation of $1.2 billion to the company, was led and managed by YC Continuity. Tiger Global and CRV also participated. The company plans to use the funds for talent acquisition and adoption acceleration. It also has plans to increase employee headcount to the end of 2022. Zip, founded by Rujul Zaparde & Lu Cheng in 2020, is an enterprise-grade platform that allows employees to make business purchase with a consumer-style interface. Pre-built, configurable and non-technical workflows are available on the platform. There are also pre-built connectors with key business systems, such as NetSuite, Workday, ERPs and others. Zip serves more than 100 customers including Canva, Roblox and Coinbase as well as industry leaders like Toast, Toast, Webflow, Databricks, Roblox, Roblox, Coinbase and Coinbase. The company has more than 130 employees — with top-tier engineers from Silicon Valley tech innovators like Airbnb, Meta, Google and Square.