ZipHQ Secures $190 Million in Funding

Procurement startup Zip has raised $190 million in a Series D funding round, boosting its valuation to $2.2 billion, a significant increase from $1.5 billion last year. The funding, led by BOND with participation from DST Global, Adams Street Partners, and others, aims to enhance Zip's AI-powered procurement software and support global expansion, particularly in Europe, the Middle East, and Africa, where it has seen over 200% growth. Zip's platform simplifies the complex procurement process, allowing businesses to streamline purchasing and approval workflows across departments. Co-founder Rujul Zaparde emphasized that the funding would aid in developing new tools and reducing inefficiencies, stating that many companies waste billions due to cumbersome processes. Founded in 2020, Zip has now raised over $371 million, positioning itself as a leader in the enterprise software space amidst a resurgence in funding for such technologies. The company's client roster includes major names like Snowflake Inc. and OpenAI.