[Funding News] Zip Secures $190 Mn in Series D Funding

Zip has secured $190 million Series D funding round, raising the company’s valuation to $2.2 billion. The round was led by BOND, with additional new investors DST Global, Adams Street, and Alkeon, along with Zip’s existing investors, Y Combinator and CRV.

The company plans to utilize the funds to speed up research and development initiatives, set up the Zip AI Lab, and expand globally.

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“Now, reaching this Series D milestone, we can only think of the opportunities it unlocks for our team, partners, and most importantly, our customers. As Zip continues to push the boundaries of what’s possible in procurement technology, we are steadfast to our core vision: orchestrate the flow of business so companies, markets, and economies can have a greater impact on the world. With this latest funding round, Zip is poised to become the global standard for enterprise business spend”, Rujul Zaparde and Lu Cheng, co-founders of Zip.

“Zip is one of those rare opportunities in enterprise software that doesn’t come along often,” said Jay Simons, General Partner at BOND, who previously served as President of Atlassian (NASDAQ: TEAM). “What sets Zip apart is its relentless focus on customer success and product innovation, which in today’s tough macro environment, is exactly what enterprises need to drive efficiency and rein in costs. The team has built a product so essential that it’s quickly becoming the go-to platform for the world’s biggest companies. We’re confident Zip is primed to be a staple in every Fortune 500 tech stack.”

About Zip

Zip is an intake and procurement orchestration platform. Zip helps businesses gain clear and timely visibility across all purchases.