About Approve
Approve is a Technology company based in Tel Aviv (Israel) founded in 2019 by Bar Winkler, and was acquired by Tipalti in April 2021. Procurement platform for businesses is provided by Approve. Approve has raised $5 million across 1 funding round from investors including Tipalti and Aleph. Its chief executive, as recorded, is Bar Winkler. Approve offers products and services including Procurement Software, Intake Management, PO Management, Supplier Management, and Spend Analytics. Its focus areas include Enterprise Applications, SCM Software, Spend Management and Suite. Its legal entity is Tipalti, Inc.
Company details
Approve was founded in 2019 in Tel Aviv, Israel, as a provider of procurement software for businesses. Purchasing workflows are managed through the platform, along with vendor interactions and customized approval flows based on organizational structures. Real-time budget synchronization is enabled to support decision-making, and built-in payment processing is included. Operations focus on streamlining procurement processes in the business services sector.
- Headquarters Tel Aviv, Israel
- Founders Bar Winkler
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website approve.com
- Social LinkedIn Facebook
- Acquired by Tipalti (Apr 2021)
- Legal Name Tipalti, Inc.
Products & Services of Approve
Approve offers a comprehensive portfolio of products and services, including Procurement Software, Intake Management, PO Management, Supplier Management, and Spend Analytics.
Automates purchasing workflows from request to payment for efficient spend control.
Enables quick submission of purchase requests with customizable forms.
Converts requests into purchase orders with automated tracking and matching.
Simplifies onboarding and compliance for suppliers through self-service portals.
Provides real-time insights into company-wide spending and supplier performance.
Funding Insights of Approve
Approve has successfully raised a total of $5M through 1 strategic funding round. The most recent funding activity was a Seed round of $5 million completed in August 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $5M
- Total Rounds 1
- Last Round Seed — $5M
- First Round $5M
(Aug 2020)
- Investors Count 1
All 1 funding rounds of Approve with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2020 | $5M | Seed | – | Aleph | – |
2 investors in total: 2 institutional.
Investors in Approve
Approve has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Tipalti and Aleph.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage tech investments in Israel are focused on by Aleph. | aleph.vc | Tel Aviv, Israel | ||
Cloud-based procurement and invoice management solutions are offered to businesses. | 2010 | tipalti.com | Foster City, United States |
Investor details for Approve
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Approve
1 people are tracked at Approve (1 in leadership).
| Name | Role | Group |
|---|---|---|
Bar Winkler | Co-Founder & CEO | Leadership |
Complete people profiles for Approve
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Approve
3 dated milestones of Approve across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Approve is founded.
- Funding First funding round of $5.0M.
- Exit Acquired by Tipalti.
Web traffic of Approve
Websites that share an audience with Approve (approve.com).
Websites whose visitors overlap most with Approve. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
google.com.br | google.com.br | 100% | #203 | – | |
| facebook.com | 100% | 12.1B | #3 | View details |
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Related news about Approve
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Frequently Asked Questions about Approve
Approve was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Approve is headquartered in Tel Aviv, Israel.
Bar Winkler is the CEO of Approve, as recorded in our data. They have also founded this company.
Approve is a funded company, having raised a total of $5M across 1 funding round to date. The company's 1st funding round was a Seed of $5M, raised on Aug 2020.
Approve was founded in 2019 in Tel Aviv, Israel, as a provider of procurement software for businesses. Purchasing workflows are managed through the platform, along with vendor interactions and customized approval flows based on organizational structures. Real-time budget synchronization is enabled to support decision-making, and built-in payment processing is included. Operations focus on streamlining procurement processes in the business services sector.
Approve offers Procurement Software, Intake Management, PO Management, Supplier Management, and Spend Analytics.
Approve operates through Tipalti, Inc..
Yes. Approve was acquired by Tipalti in April 2021.