San Mateo, California-based Tipalti has chosen North Texas for its latest expansion by way of a new global office and plans to locally hire.
A payables automation company, Tipalti handles both accounts payable and mass pay workflows for high-growth companies. Its latest site—an office in Plano that’s set to open in November—will focus on core functions across implementation, customer success, support, payment operations, risk management, and compliance. There will also be sales and HR roles.
Plano will be Tipalti’s fourth global office, joining Kibbutz Glil-Yam, Israel; Vancouver B.C., Canada; and its headquarters in San Mateo.
“We’re extremely excited and proud to welcome Tipalti to the City of Excellence,” Plano Mayor John Muns said in a news release. “Plano continues to attract world-class businesses looking for the perfect place for their employees to live, work, and play. This latest move speaks volumes about our city continuing to provide a friendly business climate for companies to relocate or expand.”
Tipalti is already actively recruiting talent for the North Texas location, and expects to hire around 20 new team members this year. By the end of 2022, Tipalti hopes to have around 100 employees in Plano.
Attracting ‘the best and brightest”
Chief Customer and Operating Officer Manish Vrishaketu, who will oversee the local office, thinks Plano will help Tipalti “attract the best and brightest talent” to join its rapidly growing global team.
“Tipalti is growing rapidly and to keep up with this market demand, we are aggressively building out our teams and offices,” he said in a news release. “With access to high quality talent across a diverse set of functions, we found Plano in particular to be attractive for its high tech talent, quality of life, and local culture.”
The announcement follows a year of acceleration for Tipalti.
It achieved unicorn status in October 2020 after raising $150 million in a Series E round of funding, marking a more than $2 billion valuation. In the first half of 2021, the team grew revenue by 83 percent and added 191 employees around the globe, bringing its total to around 600.
Tipalti, named for the Hebrew expression for “we handled it,” aims to make payables strategic with operational, compliance, and financial controls. That allows companies to scale quickly—they can pay partners and vendors worldwide within minutes both efficiently and securely.
Its customers include Amazon Twitch, GoDaddy, Oscar Insurance, Roku, WordPress.com, and ZipRecruiter.
Tipalti made the 2021 Deloitte 500 fastest growing technology companies list for its third consecutive year. It was one of only 24 U.S. companies to do so.
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