Stampli, a key provider in accounts payable automation, received $61 million in its Series D venture funding round.

Blackstone (NYSE:BX) managed funds led the effort alongside other contributions from Insight Partners, SignalFire, Bloomberg Beta, and NextWorld Capital.

Founded in 2015, Stampli saw significant investments that took the company’s total capital to $148 million.

In 2021, Deutsche Bank Research estimated the U.S. revenue potential of AP automation and ePayments to be around $70 billion while international estimates stand at three or four times this value.

“In today’s environment, building a digital-first modern finance organization is a top priority for CFOs and controllers. While we are still in the early innings of AP automation, Stampli stands out as a transformative leader in this extremely large, underpenetrated market. We are thrilled to have Stampli join our growing portfolio of innovative companies,” Blackstone Senior Managing Director in Israel Yifat Oron said.

Benzinga's Future of Digital Assets conference, scheduled for Nov. 14, is poised to be a pivotal gathering for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.

Blackstone has stakes in more than 230 companies and 12,600 real estate assets. Stampli’s investment underscores the growing support investors are showing AI-powered businesses.

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Image: Stampli Co-founder And CTO, Ofer Feldman (left), and Co-founder and CEO, Eyal Feldman (right).