NY-SPENDLAB
16.2.2024 17:48:36 CET | Business Wire | Press release
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
SLB OneSubsea Awarded Major Subsea Systems Contract for Rovuma Basin Development29.9.2026 13:46:00 CEST | Press release
Agreement with ExxonMobil Moçambique, Limitada supports development of LNG deepwater resources in Mozambique Global energy technology company SLB (NYSE: SLB) today announced that its OneSubsea™ joint venture has been awarded a contract by ExxonMobil Moçambique, Limitada, on behalf of its Area 4 partners, (ENH, CNPC, ENI, KOGAS and XRG), to deliver subsea production systems for the first phase of the offshore Rovuma LNG project in Mozambique. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260916187961/en/ SLB OneSubsea™ joint venture has been awarded a contract by ExxonMobil Moçambique, Limitada, on behalf of its Area 4 partners, (ENH, CNPC, ENI, KOGAS and XRG), to deliver subsea production systems for the first phase of the offshore Rovuma LNG project in Mozambique. The contract scope includes the delivery of subsea trees, manifolds, umbilicals and associated control systems designed to support efficient production from the
Terra Quantum and Empa Develop AI Model That Brings Real-Time Prediction to Laser Welding Process Control29.9.2026 13:00:00 CEST | Press release
LP-FNO delivers full 3D melt-pool simulation up to 100,000 times faster than conventional multiphysics methods, enabling industrial digital twins and in-process optimization Terra Quantum, a global leader in quantum technologies, and Empa, the Swiss Federal Laboratories for Materials Science and Technology, announced LP-FNO (Laser Processing Fourier Neural Operator), an artificial intelligence surrogate model that predicts full three-dimensional melt-pool dynamics in laser welding up to 100,000 faster than traditional multiphysics simulation. Removing the computational bottleneck that has long blocked real-time process control and digital twin deployment in industrial laser processing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260929856203/en/ The Simulation Bottleneck in Laser Welding Laser welding is a precision manufacturing process used across aerospace, medical device, and automotive production, where control of th
Promega Launches Paradyme™ 27GY STR System, Minimizing Stutter Artifacts in Forensic DNA Analysis29.9.2026 13:00:00 CEST | Press release
Reduced-Stutter Polymerase technology delivers clearer electropherograms for faster and more accurate mixture analysis Promega Corporation has launched Paradyme™ 27GY STR System, the first commercially available short tandem repeat (STR) analysis kit to include the company’s Reduced-Stutter Polymerase (RSP). This novel enzyme, engineered by Promega, significantly reduces the most common type of confounding artifact in forensic DNA analysis. The result is an 8-fold reduction in stutter signal intensity, producing clearer electropherograms, improving confidence in number-of-contributors (NoC) determination, and enhancing detection of minor contributors in mixed samples. Ultimately, this leads to faster mixture interpretation with higher confidence and the ability to interpret more complex mixtures, helping labs solve more cases and reduce backlogs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260918993802/en/ “This is the fi
Opensignal Crowns the World's Best 5G Networks29.9.2026 10:18:00 CEST | Press release
Annual Global 5G Awards Name Worldwide Winners, Leaders, And Rising Stars from Billions of Real-World User Experiences Opensignal, a global independent consumer connectivity analytics and insights company, today announced its annual Opensignal 5G Global Mobile Network Experience Awards, recognizing the providers delivering the best real-world 5G experiences across their national mobile networks. The awards assess billions of real-world user experiences across Download Speed, Video, Games, Voice App, Reliability, Coverage Experience, and — new for 2026 — Time on 5G, collected between Jan. 1 and June 29, 2026. "The consumer connectivity experience is at the core of everything we do at Opensignal. As the role of 5G in modern life grows, the bar for what great 5G looks like keeps rising," said Shawn Heidel, President, Network Experience at Opensignal. "The best operators in the world are defined by how well they deliver on that challenge, and this year's Global 5G Award winners set the sta
ClickHouse Expands Collaboration With Microsoft, Bringing Fabric Integration, Deeper OneLake Interoperability, and Enterprise Deployment Flexibility29.9.2026 09:30:00 CEST | Press release
ClickHouse, the company behind the open-source, real-time analytical database that has become the data layer for the AI era, today at The European Microsoft Fabric + SQL Community Conference announced a significant expansion of its strategic collaboration with Microsoft. The announcement encompasses four major milestones: the launch of the native ClickHouse workload for Microsoft Fabric, the general availability of OneLake read, the public preview of OneLake write, and the availability of ClickHouse Bring Your Own Cloud (BYOC) in the Microsoft Marketplace. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260929947201/en/ ClickHouse expands collaboration with Microsoft This expansion builds on ClickHouse's growing presence within the Microsoft ecosystem, where data-intensive organizations rely on ClickHouse Cloud on Azure to power real-time observability, business intelligence, AI/ML pipelines, and analytical applications at sc
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