OpenEnvoy builds an AI-driven accounts payable automation platform that digitizes invoices and performs reconciliation to eliminate billing errors and interdepartmental approval bottlenecks. The platform processes all invoice types and is especially known for handling high-volume, variable-cost invoices for complex payables. OpenEnvoy’s controls protect customers from vendor fraud, secure cash flow, and hold vendors accountable, and its no-code integrations enable fast client onboarding. Led by CEO Matthew Tillman, the company says its solution prevents billions of dollars in overpayments and frees AP teams from repetitive work, increasing effectiveness and time-to-value. OpenEnvoy raised $15M in a Series A round to accelerate growth and expand its global presence. The company intends to use the funds to scale operations and broaden market reach.

Total raised

$15M

Funding rounds

1

Latest round

Series A

Latest activity

May 2023