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
Fabasoft Positioned as a Challenger in the 2026 Gartner® Magic Quadrant™ for Quality Management System Software22.1.2026 17:15:00 CET | Press release
Analyst firm publishes overview of providers of quality management software Fabasoft, a leading European cloud vendor for document and business process management, has been positioned as a Challenger with its Fabasoft Approve product by Gartner® in its first Magic Quadrant™ 2026 for Quality Management System Software. In the report, the analyst firm recognizes the company’s strengths and cautions. “Gartner defines the market for quality management system (QMS/eQMS) software as stand-alone digital solutions with embedded emerging technological capabilities that enable organizations to systematically manage, monitor and improve the quality of their products, processes and services.” In its independent report, the IT analyst firm evaluated 12 different vendors based on 15 weighted criteria. “We are delighted that Gartner has positioned our QMS as a Challenger. We see this as confirmation of our strategic direction and our technological innovations, particularly in the field of AI. At the
ClickHouse Announces Native Postgres Service, Offering a Unified Data Stack for Real-Time and AI-Driven Applications22.1.2026 17:00:00 CET | Press release
ClickHouse, Inc., the company behind the world’s fastest real-time analytical database, announced a high-performance, enterprise-grade Postgres service natively integrated with ClickHouse, delivering a unified data stack for developers building modern, real-time and AI-driven applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260122173204/en/ ClickHouse Co-Founders (left to right): Yury Izrailevsky, Aaron Katz, Alexey Milovidov The service is built in partnership with Ubicloud, Inc., an open-source cloud company delivering high-performance Postgres, led by a team with proven track record at Citus Data, Heroku, and Microsoft. This launch reinforces ClickHouse’s commitment to unifying transactional and analytical workloads on a single, scalable foundation. This announcement also builds on ClickHouse’s acquisition of PeerDB Inc. in 2024, a Postgres company whose technology is helping power real-time data synchronizati
World Governments Summit 2026 to Include Largest International Participation Yet22.1.2026 16:59:00 CET | Press release
WGS 2026 Hosts High Level Investment Forum Latin America & Caribbean, and World Laureates Summit's Global First The 2026 edition of the World Governments Summit (WGS) will host the largest ever international participation since its inception and convene several landmark forums, underlining its rising global stature and significance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260122197654/en/ The 2026 edition of the World Governments Summit is set to welcome the largest-ever international participation in the Summit's history, including 35+ heads of state and 150+ governments, as well as landmark forums, such as the World Laureates Summit, that are marking their global debut (Photo: AETOSWire) The roster of world-leading corporations and knowledge institutions at the global forum includes the International Monetary Fund (IMF), International Finance Corporation (IFC), a member of The World Bank, as well as more than 35 hea
Tageos and Wiliot Partner to Accelerate Ambient IoT, Battery-Free BLE Sensing22.1.2026 16:07:00 CET | Press release
Strategic partnership unlocks latest advancements from Tageos’ Innovation Center of Excellence, starting with the battery-free EOS-654 BLE G3 inlay for Wiliot’s Gen3 IoT Pixel sensor and the Wiliot Intelligence Platform Tageos, a global leader in RFID and wireless IoT inlays and tags, today announced a strategic partnership with ambient IoT pioneer Wiliot. The first outcome of this collaboration is the launch of a new passive Bluetooth® Low Energy (BLE) inlay, the EOS-654 BLE G3. In response growing demand for real-time location and condition monitoring across retail and logistics supply chains, this inlay was developed to support large-scale deployment of Wiliot’s Gen3 IoT Pixel sensor and the Wiliot Intelligence Platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260122940104/en/ The new EOS-654 BLE G3 features a dual-band architecture operating at 2.4 GHz and sub-1 GHz. This inlay design enables longer-range energizi
ForecastEx Appoints Renowned Forecaster Dr. Philip Tetlock to Board of Directors22.1.2026 16:00:00 CET | Press release
ForecastEx Strengthens Commitment to Predictive Excellence and Market Innovation Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, announced the appointment of Dr. Philip Tetlock to the Board of Directors of ForecastEx. Dr. Tetlock is internationally recognized for his groundbreaking expertise in forecasting, probability-based judgment, and decision-making under uncertainty, which closely aligns with ForecastEx’s prediction market model. His presence on the Board strengthens ForecastEx’s governance and regulatory oversight, adding subject-matter expertise relevant to market integrity, risk management, and outcome resolution. Thomas Peterffy, Founder and Chairman of Interactive Brokers, stated: “We are pleased to welcome Dr. Philip Tetlock to the Board of Directors of ForecastEx. Prediction markets are founded on the uncertainty of the future and the probabilities associated with potential outcomes. By aggregating consensus probabilities, forecast contracts can
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