Approve
Enterprise Procurement SaaS
Company Overview
Snapshot
Founded in November 2018 by Bar Winkler, Amit Mittelman, and Shlomy Amsalem, Approve operates with 1–10 employees. The company secured funding across two rounds from eight investors, with Aleph leading one of the rounds. Approve was acquired by Tipalti in April 2021.
Business overview
Approve.com provides a modern procurement platform designed to help businesses streamline purchasing workflows, manage vendor interactions, and gain critical insights into company spend. The company's core technology focuses on enterprise solutions, utilizing web platforms and software applications, with an emphasis on artificial intelligence and machine learning to enhance productivity and workflow management. Approve serves the enterprise market across various industries, operating within the business software sector, specifically targeting management solutions and supply chain categories.
Strategic signal
Approve's acquisition by Tipalti in April 2021 signals a strategic consolidation within the FinTech and business software sectors. This move indicates a growing trend of larger platforms integrating specialized procurement solutions to offer more comprehensive financial operations management, validating Approve's technology and market approach. For investors, this highlights the potential for successful exits in the enterprise SaaS space through strategic acquisitions by established industry players.
Log in to access full profile ›Company Intelligence Q&A
- When was Approve acquired?
- Approve was acquired by Tipalti in April 2021.
- Which company acquired Approve?
- Approve was acquired by Tipalti in April 2021.
- Who are the founders of Approve?
- Approve was founded by Bar Winkler, Amit Mittelman, and Shlomy Amsalem.
- What is Approve's primary business focus?
- Approve provides an enterprise procurement SaaS platform to streamline purchasing workflows, manage vendors, and analyze company spend.
- Which investor led a funding round for Approve?
- Aleph led a $5 million seed funding round for Approve in August 2020, with participation from Yuval Ariav.