About OpenEnvoy
OpenEnvoy is a company based in Las Vegas (United States) founded in 2020 by Parker Moore and Matthew Tillman.. OpenEnvoy has raised $21.5 million across 2 funding rounds from investors including FireBolt, RRE Ventures and Coelius Capital. OpenEnvoy offers products and services including OpenEnvoy Platform, Autonomous AP, Autonomous AR, and Freight Audit. OpenEnvoy operates in a competitive market with competitors including FiscalNote, Wolters Kluwer, Eqs, Behavox and Duco, among others.
- Headquarter Las Vegas, United States
- Founders Parker Moore, Matthew Tillman
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Sectors
Financial ServicesTechnology
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$21.5 M (USD)
in 2 rounds
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Latest Funding Round
$15 M (USD), Series A
May 03, 2023
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Investors
FireBolt
& 8 more
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Employee Count
Employee Count
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Products & Services of OpenEnvoy
OpenEnvoy offers a comprehensive portfolio of products and services, including OpenEnvoy Platform, Autonomous AP, Autonomous AR, and Freight Audit. 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.
AI platform for automating AP and AR processes
Tool to capture, code, and match invoices in real time
Automates cash application and order entry workflows
Identifies fraud and duplicates in freight payments
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Funding Insights of OpenEnvoy
OpenEnvoy has successfully raised a total of $21.5M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $15 million completed in May 2023. 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 2
- Last Round Series A — $15.0M
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First Round
First Round
(13 Apr 2021)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2023 | Amount | Series A - OpenEnvoy | Valuation | RRE Ventures | |
| Apr, 2021 | Amount | Seed - OpenEnvoy | Valuation | Riot |
| 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 OpenEnvoy
OpenEnvoy has secured backing from 9 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include FireBolt, RRE Ventures and Coelius Capital. 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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VC firm investing in seed and early stage companies in the US
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Founded Year | Domain | Location | |
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Micro-venture capital fund investing in tech startups
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Founded Year | Domain | Location | |
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Investments are made by Riot in early-stage hardware tech startups.
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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 OpenEnvoy
| 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 - OpenEnvoy
| 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 |
Openenvoy Comparisons
Competitors of OpenEnvoy
OpenEnvoy 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 FiscalNote, Wolters Kluwer, Eqs, Behavox and Duco, 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 |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI-driven legal, regulatory, and policy data analysis is delivered.
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| domain | founded_year | HQ Location |
Enterprise legal processes are managed via an AI-powered platform.
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| domain | founded_year | HQ Location |
Compliance workflows for businesses are streamlined by Eq s platform.
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| domain | founded_year | HQ Location |
AI-driven compliance and risk management solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
SAAS reconciliation solutions are delivered for financial services firms.
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| domain | founded_year | HQ Location |
Cloud-based compliance management solution provider
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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 Openenvoy
Frequently Asked Questions about OpenEnvoy
When was OpenEnvoy founded?
OpenEnvoy was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is OpenEnvoy located?
OpenEnvoy is headquartered in Las Vegas, United States. It is registered at Las Vegas, Nevada, United States.
Who is the current CEO of OpenEnvoy?
Matthew Tillman is the current CEO of OpenEnvoy. They have also founded this company.
Is OpenEnvoy a funded company?
OpenEnvoy is a funded company, having raised a total of $21.5M across 2 funding rounds to date. The company's 1st funding round was a Seed of $6.5M, raised on Apr 13, 2021.
What does OpenEnvoy do?
OpenEnvoy was founded in 2020 and is headquartered in Las Vegas, United States. A cloud-based platform is operated to address fraud detection in accounts payable for businesses. Invoice auditing, contract validation, and discrepancy identification are facilitated through AI-driven tools. Real-time analytics for spend insights and savings tracking are provided, alongside vendor and supplier network management services in the fintech sector.
Who are the top competitors of OpenEnvoy?
OpenEnvoy's top competitors include Behavox, Wolters Kluwer and Secureframe.
What products or services does OpenEnvoy offer?
OpenEnvoy offers OpenEnvoy Platform, Autonomous AP, Autonomous AR, and Freight Audit.
Who are OpenEnvoy's investors?
OpenEnvoy has 9 investors. Key investors include FireBolt, RRE Ventures, Coelius Capital, Riot Ventures, and Uncorrelated Ventures.
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