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
Paraguayan Air Force Taps Cessna SkyCourier for Multi-Mission Operations7.10.2026 13:00:00 CEST | Press release
First military SkyCourier delivery in South America strengthens Paraguay’s ability to deliver essential air services and life-saving aid to remote regions Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced the Paraguayan Air Force (Fuerza Aérea Paraguaya) has become the first South American military operator of the Cessna SkyCourier turboprop, marking another milestone for the aircraft’s multi-mission versatility. Funded by Itaipu Binacional — a binational entity operated by the governments of Brazil and Paraguay — the aircraft joins the force’s existing fleet of Cessna Grand Caravan aircraft. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007525725/en/ The Cessna SkyCourier delivery to the Paraguayan Air Force marks the aircraft’s first South American military operation and expands the force’s multi-mission capabilities. “The Cessna SkyCourier delivers unmatched reliability and mission flexibility
Shah Rukh Khan and Rizwan Sajan Reunite For Shahrukhz Residences by Danube With Gauri Khan-Designed Penthouses7.10.2026 12:14:00 CEST | Press release
Following success of Shahrukhz by Danube, the commercial tower that sold out on launch day, Danube Properties announces next chapter of its iconic partnership with superstar Shah Rukh Khan with the launch of Shahrukhz Residences by Danube - a landmark fully furnished waterfront residential tower in Dubai Maritime City, with apartments starting at AED 1.65 million and a flexible payment plan of 30% during construction, and 70% upon handover. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261006482573/en/ Shah Rukh Khan and Rizwan Sajan Reunite For Shahrukhz Residences by Danube With Gauri Khan-Designed Penthouses (Photo: AETOSWire) Positioned as world’s first celebrity-named residential tower, Shahrukhz Residences by Danube sets a new benchmark for celebrity-inspired living, offering breathtaking views of the sea and the Dubai skyline. Adding to its exclusivity, celebrated interior designer and SRK’s wife, Gauri Khan, has des
LTM Expands Collaboration with Google Cloud to Help Accelerate Gemini Enterprise Adoption at Scale7.10.2026 10:30:00 CEST | Press release
Collaboration brings together a dedicated Gemini Enterprise CoE and Customer Experience Center LTM, a Business Creativity partner to the world’s largest enterprises, today announced an expanded collaboration with Google Cloud to help accelerate adoption of Google Cloud’s Gemini Enterprise. The collaboration will help organizations build, deploy, and scale AI-powered solutions by combining Gemini Enterprise capabilities with LTM's deep industry expertise, engineering talent, and global delivery capabilities. As part of this collaboration, LTM is making significant investments to strengthen its Gemini Enterprise capabilities through a dedicated Gemini Enterprise Center of Excellence (CoE), Specialized Talent and Delivery Capabilities and the development of Industry-Focused AI Solutions that will be showcased at the upcoming, state-of-the-art Gemini EnterpriseCustomer Experience Center. These efforts are designed to help organizations drive enterprise-wide AI adoption, operationalize inte
Gemcorp and Fonds Souverain Malagasy Announce Strategic Partnership to Support Investment in Madagascar7.10.2026 10:00:00 CEST | Press release
Gemcorp and the Fonds Souverain Malagasy (“FSM”) signed a strategic partnership during the 81st United Nations General Assembly (“UNGA”) in New York, establishing a framework to support investment and the development of Madagascar’s strategic assets. Under the leadership of His Excellency Michael Randrianirina, President of the Republic of Madagascar and guided by his vision to “transform the potential and endowments of the country into tangible impacts for the people,” the partnership will support FSM and the Government of Madagascar in advancing the country’s growth and investment agenda. This includes a particular focus on unlocking the value of Madagascar’s mineral resources, alongside its broader assets across mining, energy and infrastructure. As part of this partnership, FSM and the Government of Madagascar will set the strategic direction and priorities, with Gemcorp supporting FSM in structuring projects, developing investment and financing solutions, and connecting projects w
High Awareness, Low Adoption: New Survey Reveals Nearly Half of Security Professionals Still Rely on Passwords7.10.2026 09:01:00 CEST | Press release
Global study from Yubico and Okta highlights a critical execution gap in enterprise security, shows how modern identity controls can eliminate password dependency. A new survey from Yubico (NASDAQ STOCKHOLM: YUBICO), the pioneer of phishing-resistant authentication and creator of the original passkey, the YubiKey, and Okta, Inc., reveals a significant gap between security knowledge and everyday practice. While security leaders overwhelmingly recognize phishing-resistant passkeys as more secure than passwords, nearly half still rely on vulnerable login methods in their daily work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007969823/en/ Conducted by Talker Research, the annual 2026 Global State of Authentication* report surveyed nearly 2,000 cybersecurity and IT professionals across nine countries. The report highlights that cybersecurity's primary vulnerability is no longer a lack of education or awareness, but a stru
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