About Approve
Approve is a company based in Tel Aviv (Israel) founded in 2019 by Bar Winkler was acquired by Tipalti in April 2021.. Approve has raised $5 million across 1 funding round from investors including Tipalti and Aleph. Approve offers products and services including Procurement Software, Intake Management, PO Management, Supplier Management, and Spend Analytics. Approve operates in a competitive market with competitors including Sage Group, Coupa, Airbase, Bizongo and Procurify, among others.
- Headquarter Tel Aviv, Israel
- Founders Bar Winkler
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Tipalti, Inc.
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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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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 Total Funding
- Total Rounds 1
- Last Round Seed — $5.0M
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First Round
First Round
(06 Aug 2020)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Aug, 2020 | Amount | Seed - Approve | Valuation | Aleph |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Approve
Approve has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Tipalti and Aleph. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage tech investments in Israel are focused on by Aleph.
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Founded Year | Domain | Location | |
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Cloud-based procurement and invoice management solutions are offered to businesses.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Approve
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Approve
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Approve Comparisons
Competitors of Approve
Approve operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Sage Group, Coupa, Airbase, Bizongo and Procurify, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based accounting and payroll solutions for small and medium businesses
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| domain | founded_year | HQ Location |
Cloud-based end-to-end spend management software is delivered for businesses.
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| domain | founded_year | HQ Location |
Procure-to-pay management software is offered for business operations.
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| domain | founded_year | HQ Location |
Platform offering AI-powered vendor digitization, procurement and supply chain financing solutions
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| domain | founded_year | HQ Location |
SaaS spend management software is used to automate procure-to-pay operations.
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| domain | founded_year | HQ Location |
Procurement management solutions are delivered for business operations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Approve
Frequently Asked Questions about Approve
When was Approve founded?
Approve was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Approve located?
Approve is headquartered in Tel Aviv, Israel.
Who is the current CEO of Approve?
Bar Winkler is the current CEO of Approve. They have also founded this company.
Is Approve a funded 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 06, 2020.
What does Approve do?
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.
Who are the top competitors of Approve?
Approve's top competitors include Coupa, Sage Group and Airbase.
What products or services does Approve offer?
Approve offers Procurement Software, Intake Management, PO Management, Supplier Management, and Spend Analytics.
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