Taulia, which sells business-to-business payments technology, has raised $18 million in new funding.
Taulias investors include Lakestar, a Zurich-based venture fund, as well as Matrix Partners, Trinity Ventures, Telus Ventures and Dag Ventures.
The San Francisco-based Taulia provides a cloud-based invoice, payment and discounting management service. The automation is designed to make it easier to manage early payment incentives from suppliers, as well as provide greater insight into other payments data. Its clients include Time Warner Cable, Dell, Pfizer, FedEx and Gartner.
"Making supplier financing easier and less expensive to acquire will accelerate the recovery of the world economy," said Bertram Meyer, CEO of Taulia, in a press release. "Demand for our products has tripled in just a short number of months and this round of capital is in direct response to the growing global opportunity."
Taulias technology is being used in about 100 countries and is fully localized in ten languages, the company said in a press release. Other companies providing business-to-business payments automation include GoCardless, BillTrust and Bill.com.