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
SES delivered unprecedented MEO satellite connectivity for French Navy’s Clemenceau 25 mission17.9.2025 08:50:00 CEST | Press release
During international operations, SES’s high-throughput low-latency Medium Earth Orbit (MEO) managed satcom service provided connectivity to flagship aircraft carrier Charles de Gaulle of the French Carrier Strike Group (GAN) SES announced today that the French Navy’s aircraft carrier Charles de Gaulle leveraged its secure and reliable O3b mPOWER satcom service – Managed Naval mPOWERED – during the Clemenceau 25 mission. This high-throughput, low-latency Medium Earth Orbit (MEO) connectivity solution supported all of the aircraft carrier’s operations, while facilitating collaboration with mission partners. During the five-month deployment, the French Carrier Strike Group (GAN) covered 40,000 nautical miles and conducted various exercises and joint activities with around twenty allied nations. The connectivity provided by SES ensured optimal performance and uninterrupted operational availability for the aircraft carrier’s mission-critical applications. Thanks to the global reach, reliabi
Deepfakes Already Hitting Businesses as Often as Traditional Fraud, Regula Survey Finds17.9.2025 08:00:00 CEST | Press release
Fresh survey data from Regula, a global developer of identity verification (IDV) solutions and forensic devices, shows that the line between traditional fraud and impersonation attacks has vanished. Identity spoofing, biometric fraud, and AI-powered deepfakes have already struck one in three organizations worldwide, catching up with long-standing fraud tactics like forged documents and social engineering. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250916314726/en/ Regula’s survey shows that impersonation attacks overtake traditional fraud schemes. Three impersonation-driven tactics now dominate the fraud playbook, each exploiting weaknesses in verification: Identity spoofing (reported by 34% of organizations) — Holding up a printed photo, replaying a video, or showing a screen image to a camera. Often used to mass-open accounts for scams or mule networks. Biometric fraud (34%) — Physical deceptions like fake fingerprints
Overture Life Launches European Preorder Waitlist for DaVitri, the World’s First Microfluidics-Based Automated Vitrification Platform17.9.2025 07:00:00 CEST | Press release
Ahead of receipt of anticipated CE Mark, European customers can begin requesting DaVitri to expand patient access to high-quality IVF Overture Life, the innovator modernizing IVF to optimize reproductive freedom, today announced the launch of its European preorder waitlist for DaVitri, the world’s first automated vitrification platform. The waitlist ensures in vitro fertilization (IVF) facilities will be among the first in Europe to harness DaVitri to reduce manual workloads for their embryologists while eliminating operator variability, thereby providing patients with faster, more consistent procedures. As infertility rates spike worldwide, interest in egg freezing continues to rise while the infrastructure to support it lags behind. Egg freezing requires vitrification, typically a time-intensive, manual process vulnerable to human error that can only be performed by extensively trained embryologists. This has resulted in variability in egg and embryo survival rates that directly impa
Incyte Announces New 24-Week Phase 3 Data from the STOP-HS Clinical Trial Program of Povorcitinib in Hidradenitis Suppurativa at EADV 202517.9.2025 07:00:00 CEST | Press release
Across both STOP-HS1 and STOP-HS2, povorcitinib treatment resulted in continued clinically meaningful and statistically significant improvements for patients with active moderate to severe hidradenitis suppurativa (HS) through Week 24At Week 24, nearly 60% of efficacy-evaluable patients among both povorcitinib treatment groups achieved HiSCR50Additionally, patients treated with povorcitinib achieved HiSCR75 (31.0%-40.3%), HiSCR90 (13.8%-27.7%) and HiSCR100 (9.2%-21.3%) through Week 24Povorcitinib-treated patients also achieved greater improvements in skin pain by the first visit (Week 3) through Week 24 with 62%-70% achieving mild or no pain at Week 24 Incyte (Nasdaq:INCY) today announced new 24-week interim data evaluating the safety and efficacy of povorcitinib (INCB54707), an oral small-molecule highly-selective JAK1 inhibitor, from the pivotal Phase 3 STOP-HS clinical trial program in adult patients (≥18 years) with moderate to severe hidradenitis suppurativa (HS). These data will
Galderma’s Groundbreaking Real-World Study Reveals the Biological Toll of Modern Living and Urban Environments on Sensitive Skin17.9.2025 07:00:00 CEST | Press release
Results from a real-world clinical study conducted in China, to be presented at the European Academy of Dermatology and Venereology (EADV) 2025 Congress, reveal that modern lifestyles and environmental triggers significantly impact individuals with sensitive skin1 Data show that people with sensitive skin living in modern environments have higher levels of inflammation compared to those living traditional, less stressful lifestyles1 This first-of-its-kind study was conducted by Galderma’s Global Sensitive Skincare Faculty (GSSF) as part of the company’s commitment to transforming the understanding and care of sensitive skin1 Galderma today announced new data from a first-of-its-kind real-world clinical study conducted in China assessing the biological impact of different lifestyles and their associated environmental factors on individuals with sensitive skin.1 Results from the study, conducted by dermatology experts from Galderma’s Global Sensitive Skincare Faculty (GSSF), will be pres
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