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
Calvin Klein Fragrances announces ROSALÍA as the face of new euphoria elixirs19.2.2026 14:30:00 CET | Press release
Campaign fronted by the global superstar and brand ambassador explores the distinct universes of the three new parfums Calvin Klein, Inc., part of PVH Corp. [NYSE: PVH], and Calvin Klein Fragrances, a division of Coty Inc. [NYSE: COTY], today unveil GRAMMY® Award-winning singer-songwriter ROSALÍA as the face of euphoria elixirs, a new collection of three distinct parfum intense creations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260219549836/en/ Calvin Klein Fragrances announces ROSALÍA as the face of new euphoria elixirs. A daring new chapter of the iconic euphoria franchise, euphoria elixirs are a sensorial exploration of confidence, pleasure and sensuality. Embodied by global icon and Calvin Klein ambassador ROSALÍA, the campaign fuses movement and vivid color into a captivating exploration of freedom without limits. Known for her genre-defying sound and commanding visual artistry, ROSALÍA channels the fragrances’ m
ExaGrid Achieves Customer Milestone19.2.2026 14:00:00 CET | Press release
5,000+ organizations worldwide are actively using ExaGrid Tiered Backup Storage ExaGrid®, the leader in Tiered Backup Storage, today announced that over 5,000 customers are actively using its backup storage behind leading backup applications such as Veeam, Commvault, NetBackup, Rubrik, Arcserve, Acronis, SQL Dumps, Oracle RMAN Direct, HYCU, and many other backup applications and utilities. ExaGrid has achieved many milestones, including: +81 NPS score The highest in the backup storage industry 300+ published backup storage customer success stories on its website More than all competitors combined 200+ Gartner Peer Insights reviews With a high rating of 4.8/5 stars 24 Industry Awards in the last 3 years More than any other backup storage provider Over 20 consecutive quarters with positive: Free Cash Flow, P&L and EBITDA “ExaGrid realized that using standard primary storage behind a backup application is not a strong solution, and with any level of retention it’s very expensive as well a
DCO Launches Global “Ctrl+Alt+Delete” Campaign to Combat Online Misinformation and Enhance Trust in Digital Economy19.2.2026 13:25:00 CET | Press release
The “Stop Online Misinformation” campaign marks the culmination of sustained global collaboration to strengthen trust in the safe and all-inclusive digital economy The Digital Cooperation Organization (DCO) has announced the launch of the “Stop Online Misinformation: Ctrl+Alt+Delete,” global campaign to counter online misinformation and strengthen trust in the digital economy, calling for coordinated action by governments, media, the private sector, and digital platforms. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260218141056/en/ DCO Launches Global “Ctrl+Alt+Delete” Campaign to Combat Online Misinformation and Enhance Trust in Digital Economy - (Photo: AETOSWire) The campaign represents the culmination of a year of sustained multilateral and multistakeholder engagement led by DCO to address misinformation as a growing economic, societal, and trust-related challenge. Underpinned by DCO’s Online Content Integrity initiat
Amazfit Announces the T-Rex Ultra 2: a Titanium GPS Watch Engineered for the Extreme19.2.2026 13:00:00 CET | Press release
With preloaded global maps, intelligent route tools, and weeks-long battery life, the T-Rex Ultra 2 is made for those who seek boundaries only to push beyond Amazfit, a leading global smart wearable brand owned by Zepp Health, today announced the T-Rex Ultra 2, the latest and most advanced member of its rugged T-Rex lineup. As part of the T-Rex family, the T-Rex Ultra 2 is built for uncertainty—designed to remain reliable in conditions where plans, environments, and outcomes are never fully defined. Purpose-built for extreme environments, the T-Rex Ultra 2 combines premium materials, enhanced navigation capabilities, and extended battery life to support athletes and explorers tackling long, complex routes where preparation and reliability matter most. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260219679075/en/ Amazfit Announces the T-Rex Ultra 2: a Titanium GPS Watch Engineered for the Extreme “With the T-Rex Ultra 2, we
YolTech Therapeutics Announces Positive Interim Data on YOLT-202 for the Treatment of Alpha-1 Antitrypsin Deficiency19.2.2026 12:00:00 CET | Press release
Single dose of YOLT-202 led to rapid, robust and dose-dependent increases in AAT levels to normal rangeSingle dose of YOLT-202 was well tolerated with a favorable safety profile YolTech Therapeutics, a late clinical-stage biotechnology company developing in vivo gene editing therapies, today announced positive interim data from an investigator-initiated trial (IIT) of YOLT-202, the Company’s investigational in vivo base editing therapy, for the treatment of Alpha-1 Antitrypsin Deficiency (AATD) that demonstrated positive safety and tolerability as well as meaningful increases in AAT levels in evaluated patients treated with the 35 mg and 45 mg dose levels. “These interim findings mark an exciting and important milestone for YolTech and for patients living with severe AATD. The rapid, robust, and dose‑dependent increases in functional AAT levels observed in this study—particularly among individuals with the PiZZ genotype—underscore the transformative potential of in vivo base editing as
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