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
Zycus Recognized as A Customers’ Choice in 2025 Gartner® Peer Insights™ “Voice of the Customer” for Source-to-Pay Suites18.9.2025 11:20:00 CEST | Press release
Zycus, a global leader in procurement and source-to-pay transformation, today announced it has been recognized as A Customers’ Choice in 2025 Gartner Peer Insights™ “Voice of the Customer”: Source-to-Pay Suites report. The Gartner Peer Insights report aggregates ratings and reviews from verified end users over an 18-month ending June 30, 2025. To qualify, vendors must have at least 20 eligible reviews and meet thresholds for capabilities and support. In the 2025 report, only eight vendors qualified, with Zycus placed in the Customers’ Choice quadrant — highlighting vendors rated above the market average for both Overall Experience and User Interest & Adoption. Recognition Backed by Customer Experience According to the report, Zycus achieved: 4.6 out of 5 Overall Rating, based on 67 peer reviews as of June 30, 2025. 95% willingness to recommend score – reflecting customer trust and satisfaction. Ratings across Product Capabilities, Sales Experience, Deployment, and Support, each above 4
Neumirna Therapeutics Appoints Ellen K. Donnelly as Chief Executive Officer18.9.2025 11:00:00 CEST | Press release
Neumirna Therapeutics, a biotechnology company developing RNA-based therapies for neurological diseases, today announced the appointment of Ellen K. Donnelly, Ph.D. as Chief Executive Officer. Ellen brings more than 20 years of leadership in neuroscience and rare diseases, spanning both global pharmaceutical companies and innovative biotech firms. She joins Neumirna from her role as CEO of Abliva AB, recently acquired by Pharming Group, and has previously led Modus Therapeutics and Souvien Therapeutics. Earlier in her career, Ellen spent nearly a decade at Pfizer Inc., where she held leadership roles in neuroscience research, clinical operations, portfolio management, and strategy. She holds a Ph.D. in Pharmacology & Neuroscience from Yale University. "Ellen combines scientific expertise with proven leadership in both biotech and pharma," said Luis Pareras, Chairman of the Board at Neumirna. "The Board is confident that under her guidance, Neumirna will continue to translate our innova
Former Wasabi EMEA VP Richard Czech Joins Leviia to Lead European Channel Expansion18.9.2025 11:00:00 CEST | Press release
Leviia, the French cloud storage provider with more than one million users and 1,000 enterprise customers, today announces a major step in its growth strategy: the expansion of its S3 storage operations across Europe. To lead this initiative, Leviia has appointed Richard Czech, former Vice President EMEA at Wasabi, as Chief Business Development Officer. Czech will drive market development and scale Leviia’s partner ecosystem across Europe, building on the company’s successful go-to-market model in France. “Richard’s arrival reflects the scale of our ambitions in Europe,” said William Méauzoone, co-founder of Leviia. “He combines first-hand experience in scaling a major storage player with an exceptional understanding of the European channel landscape. ” “I’m excited to join Leviia and lead its European expansion,” said Czech. “Organizations face growing pressure to store data in sovereign, multi-site environments. Unlike non-European providers such as Amazon or Wasabi, Leviia is unique
IQM and Scientek Corporation Sign Reseller Agreement to Boost Quantum Computing in Taiwan18.9.2025 10:11:00 CEST | Press release
Companies aim at fuelling the local quantum ecosystem growth and promote adoption IQM Quantum Computers and Scientek Corporation, a Taiwan-based reseller of scientific instruments and other high-technology products, today announced the signing of a strategic reseller agreement to accelerate the commercialisation of quantum computing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918110284/en/ IQM and Scientek Corporation sign reseller agreement The agreement follows the installation of IQM Spark, the first full-stack superconducting quantum computer at the Taiwan Semiconductor Research Institute (TSRI). Under the reseller agreement, Scientek will sell and promote IQM’s on-premises quantum computers and cloud solutions that meet the evolving needs of universities, research institutions, and enterprises. Combining Scientek's strong market presence and customer-centric approach in Taiwan with IQM’s quantum leadership, the c
Acuity Knowledge Partners Acquires Ascent18.9.2025 09:30:00 CEST | Press release
Acuity Knowledge Partners (Acuity), a leading global provider of bespoke research, data management, analytics and AI solutions to the financial services sector, has announced that it has exchanged on the acquisition of Ascent. The transaction is expected to close on 30th September 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250915732380/en/ L-R: Stewart Smythe, Chief Executive Officer, Ascent; Jon O'Donnell, Chief Operating Officer, Acuity Knowledge Partners, and Robert King, Chief Executive Officer, Acuity Knowledge Partners This strategic move significantly expands Acuity's Data and Technology Services (DTS) division and its offering of technology and AI led services and solutions. Ascent, a leading European provider of AI-powered digital transformation services, supports over 170 clients globally, with 550 data, software, and cloud specialists operating across seven European jurisdictions. “Our acquisition of Asc
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