Taulia Inc., provider of the leading Dynamic Discounting platform for corporations using SAP, announced today that it raised USD 3.2M in funding from new key investors including Matrix Partners and Trinity Ventures and existing investors including The Angels’ Forum. The funds will be used to expand the US and EU sales and professional services teams.
Taulia enables Global 2000 corporations to make tens of millions every year by paying their invoices early through its Software as a Service (SaaS) Dynamic Discounting solution. Suppliers are eager to offer early payment discounts to avoid the pain and financing costs associated with collection cycles in excess of 60 days.
“We see tremendous market opportunity for Taulia by making the financial supply chain more efficient. Large buying organizations earn double-digit returns by investing funds risk-free into their Accounts Payables; meanwhile their suppliers benefit from immediate payment of quickly approved invoices,” explains Josh Hannah, general partner at Matrix Partners. “Additionally, the scalability of Taulia’s solution makes this investment even more appealing from an investor’s perspective, as a certified SAP Add-On it is deployed and operational in weeks.”
“I am thrilled to welcome Matrix and Trinity as new investors, two top-tier VC firms with an excellent reputation and track record in helping enterprise SaaS companies succeed, as just recently proven again by Noel’s decisive contributions to SciQuest’s successful IPO,” adds Bertram Meyer, Taulia’s CEO.
The Taulia Dynamic Payment Platform delivers the fastest ROI to large buying organizations through a combination of the quickest deployment in the industry with a success-based pricing model, and it charges no access fees or membership fees to suppliers.
Taulia will continue to build on its core strengths, namely technology leadership based on full SAP certification and SAP integration plus unmatched integration capabilities that allow buying organizations to chose Taulia’s own comprehensive Vendor Portal as part of the package or to integrate dynamic discounting into pre-existing portals or 3rd party networks such as OB10.
ABOUT MATRIX PARTNERS
Matrix Partners is a premier venture capital firm that has generated outstanding returns for over three decades. The firm has delivered several of the industry’s top performing funds of all time. Matrix Partners has offices in Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. The firm has been fortunate to have invested in game-changing, industry-leading businesses such as Apple Computer, Sandisk, Veritas, Sycamore Networks, Phone.com, Starent Networks, JBoss and Gilt Groupe.
ABOUT TRINITY VENTURES
Founded in 1986, Trinity Ventures, a boutique firm, partners with passionate entrepreneurs to transform revolutionary ideas into reality. With over USD 1 billion under management, Trinity Ventures was founded on the principle of personal engagement and mutual respect with the entrepreneurs we fund. Trinity Ventures focuses on early stage technology ventures with a particular emphasis on digital media, Internet services, mobility, security and software markets.
Trinity Ventures has invested in more than 100 ventures, including such leading companies as Affinity Labs (acquired by Monster.com), Aruba Networks (ARUN), Bix (acquired by Yahoo!: YHOO), Blue Nile (NILE), Crescendo Communications (acquired by Cisco: CSCO), Extreme Networks (EXTR), Forte Software (FRTE), IntruVert Networks (acquired by Network Associates: NWK), LoopNet (LOOP), Modulus Video (acquired by Motorola: MOT), Network Alchemy (acquired by Nokia: NOK), Photobucket (acquired by News Corporation: NWS), SciQuest, Speedera Networks (acquired by Akamai Technologies: AKAM), Starbucks (SBUX), Sygate Technologies (acquired by Symantec: SYMC) and Wall Data (WALL).
ABOUT THE ANGELS' FORUM
Since 1997, The Angels’ Forum (TAF) has been investing in, mentoring and advising Silicon Valley startups from the seed stage all the way through a meaningful exit. TAF is a diverse group of 25 high net worth private investors, all of whom have been CEO’s, founders or senior executives of successful entrepreneurial ventures. The Angels' Forum has the capital, time, experience, skills and passion to work with other entrepreneurs to build disruptive companies.