Supplier invoicing is far from sexy, but for one company, it’s incredibly good business.
Taulia, a company providing cloud-based invoicing, dynamic discounting, and payments tools, is announcing today that it has raised a fresh $15 million, its third lump of funding in less than a year.
Taulia’s secret sauce is that it helps suppliers get paid on time by incentivizing buyers to pay their invoices early in exchange for discounts. That’s the dynamic discounting part of the product.
“A supplier has three ways to get financing. The first is bank loans, the second is credit-card borrowing (similar to the first), and the third is factoring. Taulia is replacing all three,” chief executive Bertram Meyer said in an interview with VentureBeat in 2011.
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Taulia targets Fortune 500 companies, and its longtime customers include Coca-Cola Bottling Co. Consolidated, Pfizer, Pacific Gas & Electric, and Hallmark, among others.
Zouk Capital provided the new funding, which brings Taulia’s total to $85 million.
Taulia was founded in 2009 by Bertram Meyer, Markus Ament, Martin Quensel, and Philip Stehlik. It’s headquartered in San Francisco, with additional offices in London, England; Düsseldorf, Germany; Sofia, Bulgaria; Austin, Texas; and Park City, Utah.
