B2B payments platform Routable has raised $30 million in a Series B funding round led by brothers Sam Altman, CEO of Open AI and former president of Y Combinator, and Jack Altman, CEO of Lattice.
Flexport also participated in the round, along with a number of angel investors, including Instacart’s Max Mullen, Joe Gebbia of Airbnb, CEO of Box Aaron Levie, TIME Ventures’ Marc Benioff, Gokul Rajaram of DoorDash, Lachy Groom, formerly of Stripe, founder of Behance Scott Belsky, CEO of Gainsight Nick Mehta and Wade Foster, co-founder of Zapier.
Routable, which states that its mission is to “remove the burden of the bill payment and invoicing processes”, intends to use the funding to triple the size of its team and continue developing features to help automate the accounts payable process for finance, operations, and engineering teams.
Omri Mor, co-founder and CEO of Routable, said: “We also plan to launch a suite of new ERP and business integrations that will make sharing business payment information amongst teams easier than ever before.
“That includes building out integrations with Workday, Oracle, and Microsoft Dynamics over the course of the next 18 months.”
In August 2020, Routable raised $12 million in Series A funding.
Mor added: “Since our last funding announcement, our team delivered on our promise of building the best ERP integration, launching a seamless two-way sync with Oracle NetSuite.
“We’ve received positive feedback from our customers and are enthused to know that our efforts are helping them save time and streamline internal approval processes.”