NY-SPENDLAB
SpendLab (the “Company”), the leading AI-enabled accounts payable auditing and recovery platform, today announced a transformative partnership with Story Capital (“Story”) through a strategic majority investment from Story. This partnership marks a pivotal step in SpendLab’s journey, accelerating its mission to redefine accounts payable (“AP”) management for global enterprises and the public sector with its market-leading technology solutions.
SpendLab has been at the forefront of the AP industry for decades, leveraging over 450 algorithms and proprietary AI models to detect and recover payment inaccuracies across AP processes, VAT, and vendor balance reconciliation. Since its inception, SpendLab has analyzed over 1 billion customer invoices, recovering more than €500 million for global enterprise customers across various sectors such as technology, consumer, healthcare, finance, automotive and public sectors. SpendLab is setting the standard in the AP industry by blending its proprietary technology with its in-house experts to ensure superior savings with unmatched speed and precision for its customers.
The strategic investment from Story Capital, an investment firm renowned for its focus on technology transformation, will accelerate SpendLab’s new product roadmap, global expansion, and team building, further cementing its leadership in the AP audit and recovery space.
Sebastian Morales, the newly appointed CEO of SpendLab, shared his excitement about the partnership, “Partnering with Story Capital marks a historic milestone for SpendLab. This investment transcends financial support, representing a strategic alliance to amplify our technology and expand our market presence. Together, we are committed to achieving unparalleled efficiency and substantial savings to our global clients and accelerate our growth trajectory.”
Jos Houben, Founder of SpendLab, added, “We chose Story Capital as our partner, because of Story’s unique blend of entrepreneurial experiences, technological value-add in multiple facets such as AI, engineering and product, category expertise, and a shared vision for the future of SpendLab. This partnership is our commitment to driving innovation and excellence in the AP space for our current and future customers.” As part of the transaction, the previous owner group led by Jos Houben will retain a significant equity ownership in the Company and continue to serve on the SpendLab Board.
Shuo Zheng, General Partner at Story Capital, remarked on the investment, “SpendLab represents the epitome of innovation and leadership in the accounts payable category. We are thrilled to support SpendLab’s trailblazing path towards a global technology powerhouse, and delivering unparalleled value to customers worldwide.”
About SpendLab
SpendLab is the leading AI-enabled accounts payable auditing and recovery platform, serving over 40 industries globally. With a focus on combining its market-leading AI technology with unparalleled know-how, SpendLab has maniacally focused on customer success, recovering over €500 million of savings to date for its customers. SpendLab is also ISO 27001 and 9001 certified.
About Story Capital
Story Capital is an investment firm that seeks to create enduring technology enterprises. As company builders, Story partners with profitably growing companies that can take step-function changes through technology transformation, and actively engages in driving and accelerating this transformation. With a deep understanding in technology and a commitment to collaborative growth, Story seeks to accelerate growth and expand profitability for its companies.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240216999736/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
TRU Simulation announces delivery and acceptance of the Bell 505 Flight Training Device to Royal Jordanian Air Force13.11.2025 16:00:00 CET | Press release
TRU Simulation + Training Inc., a Textron Inc. (NYSE:TXT) company, and an affiliate of Bell Textron Inc. today announced delivery and acceptance of the Bell 505 Flight Training Device (FTD) to the Royal Jordanian Air Force (RJAF). The purchase agreement with the RJAF includes aircraft delivery complete with a flight training device and a comprehensive computer-based training package to support basic and advanced rotorcraft flight training at the King Hussein Air College in Mafraq, Jordan. This milestone follows the recent delivery of 10 Bell 505 helicopters to the RJAF. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251113604706/en/ TRU Simulation + Training announced delivery and acceptance of the Bell 505 Flight Training Device (FTD) to the Royal Jordanian Air Force (RJAF). “The Bell 505 Flight Training Device provides the Royal Jordanian Air Force a highly advanced training solution that enhances pilot readiness through r
TOURISE Destination Initiative Calls for Global Action for Urban Tourism Safety Through AI13.11.2025 15:42:00 CET | Press release
Launched today at the TOURISE Summit, the TOURISE Destination Initiative (TDI) brings together global leaders from government, international organizations, academia, and the private sector, to transform destinations into living laboratories for tourism innovation. Guided by its Declaration of Principles, TDI champions safety, environmental stewardship, cultural preservation, and community-centered development through responsible technology and multi-sector collaboration. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251113796086/en/ His Excellency Ahmed Al Khateeb, Saudi Arabia's Minister of Tourism and Chairman of TOURISE, launches the TOURISE Destination Initiative, a global coalition to shape the future of tourism through a destination-centric approach, with co-chairs H.R.H. Prince Turki bin Talal bin Abdulaziz Al Saud, Governor of Aseer Province, and Luigi Brugnaro, Mayor of Venice. They are joined with the TDI founding
Twilio’s Latest Report Highlights Conversational AI’s Rapid Adoption, Challenges, and Perception Gaps13.11.2025 15:00:00 CET | Press release
Survey data shows a 31-point satisfaction gap between business leaders’ beliefs and consumers’ experiences with conversational AIWithin the next year, 59% of organizations expect to fully replace the conversational AI solution they have in place todayMore than 70% of consumers claim they can identify an AI agent, but 90% failed to do so correctly Twilio (NYSE: TWLO), the customer engagement platform that drives real-time, personalized experiences for today’s leading brands, today released its Inside the Conversational AI Revolution report.1 Based on a global survey of 457 business leaders and 4,800 consumers across 15 countries, the report unearths major trends related to conversational AI’s adoption, perceptions, and expectations, including a finding that 99% of organizations anticipate their conversational AI strategy will change in the next 12 months. “Businesses that want to successfully deploy conversational AI for customer service, sales, and marketing need to prioritize customer
Safe Software Ahead of Target to Reach $250M in Revenue by 202813.11.2025 15:00:00 CET | Press release
The All-Data, Any AI Integration Leader Achieves Centaur Status as it Crosses $100M in Revenue Safe Software (Safe), the creator of FME, the only All-Data, Any-AI enterprise integration platform with true support for spatial data, today announced strong business momentum and continued progress toward its goal of reaching $250M in revenue by 2028. Building on another year of record performance, Safe Software is ahead of its target, surpassing $100M in annual revenue in FY25, representing nearly 20% year-over-year growth. “Crossing $100M is more than a financial milestone, it’s testament to the significant value FME delivers for our customers every day,” said Don Murray, CEO of Safe Software. “As we advance toward $250M, we remain committed to empowering organizations to unlock the full potential of their data through open, scalable, and intelligent solutions” The company’s employee base increased by 21.8% over the fiscal year, reflecting strategic investments in its people, culture, and
Doha Debates Asks: Is ‘Earned Success’ an Illusion?13.11.2025 14:55:00 CET | Press release
Global thinkers and students in Doha engage in a spirited debate over fairness, privilege and the meaning of success. Can success ever be truly earned? In its latest flagship episode, Qatar Foundation’s Doha Debates brings together global thinkers and students for a thought-provoking conversation on whether hard work and talent still determine who rises, or whether “earned success” conceals deeper inequities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251113305464/en/ Doha Debates brings together global thinkers and students for a thought-provoking conversation on whether hard work and talent still determine who rises, or whether “earned success” conceals deeper inequities. (Photo: AETOSWire) Daniel Markovits, Guido Calabresi Professor of Law at Yale Law School, argues that the system meant to promote fairness has instead entrenched inequality. “Meritocracy has become the principal obstacle to equality of opportunity, at
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom