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- OpenEnvoy secures $15M in Series A funding led by RRE Ventures for AP automation growth
OpenEnvoy secures $15M in Series A funding led by RRE Ventures for AP automation growth
The AI automation provider offers a complete solution for accounts payable automation with 99% accuracy in real-time invoice digitization and reconciliation
TheNeedleAI Team
May 08, 2023
WHO OpenEnvoy offers its best-in-class AI-powered solution for finance teams seeking to streamline and digitize their accounts payable processes with utmost accuracy and automation.
WHAT The OpenEnvoy platform digitizes all types of invoices, including high-volume, variable-cost invoices for complex accounts payables. It also provides no-code integration with industry-proven solutions, enabling clients to operate quickly and easily. Using AI automation technology, it prevents vendor fraud, keeps cash flow secure, and holds vendors accountable.
WHY OpenEnvoy enables finance teams to shift from tedious, repetitive tasks and complex approval workflows to more strategic activities that provide clients with significant hard dollar returns through improved cash flow and operational efficiencies.
FUNDING OpenEnvoy secured $15M in Series A financing led by RRE Ventures, with participation from Coelius Capital, Hack VC, Riot Ventures, and Uncorrelated Ventures.
AVAILABILITY Finance teams can request an AP automation demo with an OpenEnvoy expert today.
CUSTOMER TRACTION OpenEnvoy provides solutions to highly complex invoices, and it has already helped many clients avoid overpayments and digitize their accounts payables processes.
KEY TAKEAWAY OpenEnvoy is a game-changing AI-powered solution that streamlines accounts payable processes with real-time digitization, reconciliation, and automation. It eliminates vendor fraud and errors while providing significant hard dollar returns through improved cash flow and operational efficiencies.
OpenEnvoy's unparalleled AI technology paired with its integrated document digitization and processing technology fundamentally transforms the AP function delivering immediate value and frequently saving customers millions in overpayments.