Zip Zaps $190 Million Series D Round

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Zip announced a &dollar;190 million Series D funding round&comma; raising the company’s valuation to &dollar;2&period;2 billion&period; The round was led by BOND&comma; with additional new investors DST Global&comma; Adams Street&comma; and Alkeon&comma; along with Zip’s existing investors&comma; Y Combinator and CRV&period;<&sol;p>&NewLine;<p>Zip operates an AI-powered procurement orchestration platform&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Zip is one of those rare opportunities in enterprise software that doesn’t come along often&comma;” said Jay Simons&comma; General Partner at BOND&comma; who previously served as President of Atlassian&period; &OpenCurlyDoubleQuote;What sets Zip apart is its relentless focus on customer success and product innovation&comma; which in today’s tough macro environment&comma; is exactly what enterprises need to drive efficiency and rein in costs&period; The team has built a product so essential that it’s quickly becoming the go-to platform for the world’s biggest companies&period; We’re confident Zip is primed to be a staple in every Fortune 500 tech stack&period;”<&sol;p>&NewLine;<p>In today’s global economy where businesses face mounting pressure to optimize spend and mitigate risk&comma; procurement — the process of acquiring goods and services necessary for business operations — has become a critical function&period; Each year&comma; companies spend trillions of dollars on everything from office supplies and software subscriptions to professional services and marketing agencies&period; Procurement represents the second largest area of business spend after payroll&comma; yet despite its enormous financial impact&comma; the purchasing process has remained stuck in the past – slow&comma; complex&comma; and riddled with inefficiencies&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Procurement is broken&comma;” said Rujul Zaparde&comma; Co-founder and CEO of Zip&period; &OpenCurlyDoubleQuote;Companies are wasting billions of dollars and countless hours navigating byzantine approval processes&comma; dealing with security risks&comma; and manually entering data&period; Zip has already proven that we can fix that&comma; saving our customers billions of dollars and thousands of hours of time — and our new round of funding will allow us to continue to revolutionize business spending&period;”<&sol;p>&NewLine;<p>Zip’s platform offers a stunningly intuitive&comma; consumer-grade interface that makes purchasing as easy as online shopping&comma; while ensuring compliance&comma; efficiency&comma; and cost optimization&period; Zip streamlines complex workflows across departments — from legal and IT to security and finance — seamlessly connecting all teams involved in the procurement lifecycle&period; This holistic approach has already transformed operations for industry giants like Snowflake&comma; Discover&comma; and Sephora&comma; who have collectively saved over &dollar;4&period;4 billion in procurement spend through Zip’s platform in less than four years&period; To date&comma; over &dollar;107 billion in customer spend has been processed through Zip&comma; and Zip has achieved 3x growth across large enterprises just this year&period;<&sol;p>&NewLine;<p>Just as Salesforce revolutionized customer relationships and Wor<&sol;p>&NewLine;