About Zip
Zip is a company based in San Francisco (United States) founded in 2020 by Lu Cheng and Rujul Zaparde. It operates as a SaaS (Software-as-a-Service). Zip has raised $333.28 million across 5 funding rounds from investors including Alkeon Capital Management, Y Combinator and DST Global Partners. The company has 218 employees as of December 31, 2023. Zip offers products and services including Intake-to-Procure, Procure-to-Pay, and Zip AI. Zip operates in a competitive market with competitors including Bill.com, Razorpay, Zaggle, AvidXchange and Konfío, among others.
- Headquarter San Francisco, United States
- Employees 218 as on 31 Dec, 2023
- Founders Lu Cheng, Rujul Zaparde
- Stage Unicorn
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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
*********
- Legal Name Zip
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$333.28 M (USD)
in 5 rounds
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Latest Funding Round
$190 M (USD), Series D
Oct 21, 2024
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Investors
Alkeon Capital Management
& 6 more
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Employee Count
218
as on Dec 31, 2023
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Products & Services of Zip
Zip offers a comprehensive portfolio of products and services, including Intake-to-Procure, Procure-to-Pay, and Zip AI. 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 guides employees through purchase request processes efficiently.
PO and invoice management are automated modernly here.
AI agents are built for procurement orchestration tasks.
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Software Development Team
60 people
Leadership Team
39 people
Product Management Team
9 people
Sales and Marketing
7 people
Human Resources and Administration
6 people
Creative and Marketing Team
6 people
Senior Team
5 people
Finance and Accounting
4 people
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Funding Insights of Zip
Zip has successfully raised a total of $333.28M across 5 strategic funding rounds. The most recent funding activity was a Series D round of $190 million completed in October 2024. 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 5
- Last Round Series D — $190.0M
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First Round
First Round
(01 Jun 2020)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2024 | Amount | Series D - Zip | Valuation | Bond Capital | |
| May, 2023 | Amount | Series C - Zip | Valuation |
investors |
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| May, 2022 | Amount | Series B - Zip | Valuation | Y Combinator |
| 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 Zip
Zip has secured backing from 7 investors, including venture fund investors. Prominent investors backing the company include Alkeon Capital Management, Y Combinator and DST Global Partners. 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 startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location | |
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Venture capital investment firm
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Founded Year | Domain | Location | |
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CRV is recognized as a venture capital firm investing in technology 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 Zip
| 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 - Zip
| 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 |
Zip Comparisons
Competitors of Zip
Zip 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 Bill.com, Razorpay, Zaggle, AvidXchange and Konfío, 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 |
Cloud-based accounts payable and receivable software for businesses
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| domain | founded_year | HQ Location |
Payment and business banking solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
Business spends, payments, and rewards are streamlined by automated workflows.
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| domain | founded_year | HQ Location |
Accounts payable and payment automation solutions are offered for businesses.
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| domain | founded_year | HQ Location |
Financial solutions platform provider
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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 Zip
Frequently Asked Questions about Zip
When was Zip founded?
Zip was founded in 2020.
Where is Zip located?
Zip is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Zip?
Rujul Zaparde is the current CEO of Zip. They have also founded this company.
Is Zip a funded company?
Zip is a funded company, having raised a total of $333.28M across 5 funding rounds to date. The company's 1st funding round was a Series B of $43M, raised on Jun 01, 2020.
How many employees does Zip have?
As of Dec 31, 2023, the latest employee count at Zip is 218.
What does Zip do?
Zip is established as a leading platform for agentic procurement orchestration. Solutions are provided for various needs including intake-to-pay and AP automation. Services are tailored for teams in procurement, finance, accounting, IT, security, and legal. Support is extended to startups, mid-market, and enterprise clients across industries like life sciences, financial services, and technology. AI capabilities are integrated to enhance decision-making and mitigate third-party risks. Cross-functional efficiency is driven through integration with existing tech stacks.
What products or services does Zip offer?
Zip offers Intake-to-Procure, Procure-to-Pay, and Zip AI.
Who are Zip's investors?
Zip has 7 investors. Key investors include Alkeon Capital Management, Y Combinator, DST Global Partners, CRV, and Adams Street Partners.
What is Zip's valuation?
The valuation of Zip is $1.5B as of May 2023.
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