# Swiftt Development

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swiftt-development

- Industry: Software
- Headquarters: Tel Aviv-Yafo, Israel
- Website: www.approve.com
- Total disclosed funding: $5M
- Latest round: Seed (Aug 4, 2020)
- Investors on record: 1

## About

Swiftt Development Ltd. specializes in procurement software solutions that streamline the purchasing journey for organizations, enhancing operational efficiency and compliance through automated workflows and real-time insights.Founded in 2019, Swiftt Development Ltd. is headquartered in Tel Aviv-Yafo, Israel. The company focuses on providing innovative procurement solutions. It has completed three deals, with the most recent one on April 12, 2021, when it was acquired by Tipalti, Inc. from Aleph for undisclosed financial terms. The company has raised a total of USD 5.00 mn through its Seed funding round, led by Aleph.Swiftt Development Ltd. offers a comprehensive suite of procurement software solutions aimed at automating and streamlining the purchasing journey for organizations. Its key offerings include procurement automation features that support a connected workflow throughout the entire intake-to-procure process. The software includes customizable forms and an intuitive interface for quick submission of purchase requests, which are then routed for approvals using automated, rules-based processes. Core functionalities consist of supplier onboarding, purchase order (PO) generation, and tracking of Goods Received Notes (GRN) to ensure accurate PO matching. This suite aims to minimize maverick spending, strengthen compliance, and provide real-time insights into spending patterns, serving a client base of medium to large enterprises across various sectors, including technology, finance, and public sectors, with notable clients like Cybereason, PubMatic, and Plentific. The products are marketed primarily in North America, Europe, and parts of Asia.Swiftt Development Ltd. generates revenue through a subscription-based model for its procurement software, which includes tiered pricing plans tailored to different client needs. Clients subscribe to various service levels that encompass features like supplier management, automated workflows, and analytics capabilities. Transactions occur in a B2B context, with annual subscriptions structured to include additional costs for premium features or integrations with existing enterprise systems. The flagship product covers the entire procure-to-pay lifecycle, enabling organizations to enhance operational efficiency and financial control through automated procurement solutions.Following its acquisition by Tipalti, Inc. in April 2021, Swiftt Development Ltd. will leverage the resources of its parent company to enhance its portfolio of financial operations offerings. This strategic alignment aims to facilitate growth for companies in need of improved spend visibility and financial controls. The focus will be on expanding into new geographic markets and enhancing product offerings, although specific details on upcoming products or targeted regions are not publicly disclosed at this time.

## Funding rounds

- Seed, Aug 4, 2020, $5M — Aleph

## Investors

- Aleph (https://capitalatlas.ai/funds/aleph) — Seed