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
SES Successfully Prices €650 million of SPACE Hybrid Securities17.3.2026 23:00:00 CET | Press release
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)) OR IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT (SEE “OFFER AND DISTRIBUTION RESTRICTIONS” BELOW). SES Financing S.à r.l., a wholly owned subsidiary of SES, announced the successful launch and pricing of the PNC5.25 Subordinated Perpetual with Automatic Conversion Events (“SPACE”) hybrid transaction, guaranteed on a subordinated basis by SES and SES Americom. SES Financing S.à r.l. is rated Ba1 (stable) and BBB- (stable) by
Rimini Street Announces Participation in the ROTH Capital Partners 38th Annual Investor Conference17.3.2026 22:37:00 CET | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced the following upcoming ROTH Capital Partners Investor Conference, March 23 and 24, 2026, in Laguna Niguel, California: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317799301/en/ Rimini Street Announces Participation in the ROTH Capital Partners 38th Annual Investor ConferenceSeth Ravin, CEO, and Dean Pohl, vice president, treasurer and investor relations, will participate in one-on-one and small group meetings (Seth Ravin, March 23 only) Seth Ravin will participate in a panel discussion led by ROTH Capital Partners Managing Director, Senior Research Analyst Rich Baldry, titled “Software: Risks, Opportunities & Realities of the AI Emergence” on March 23, 2:00 p.m. – 2:55 p
The World Goes Green for St Patrick’s Day 202617.3.2026 17:50:00 CET | Press release
Ireland Leads a Global Celebration of Culture and Community This March, St Patrick’s Day invites people all over the world to become Irish for a day, as cities and communities across the globe unite in a shared celebration of heritage, culture and connection. From parades and parties to the famous global greenings, the festival’s spirit reaches far beyond Ireland’s shores. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260306890851/en/ St Patrick's Festival Kilkenny City 2022 The World Goes Green Ireland’s national holiday, St Patrick’s Day unites a global community in a vivid moment of celebration. Each year, hundreds of iconic landmarks are illuminated in green, from the Empire State Building in New York and the Leaning Tower of Pisa in Italy to Niagara Falls in Canada and the Wallace Monument in Scotland. These striking displays reflect the far-reaching connections of Irish communities overseas and the worldwide affection
USD 1.63 Billion In 72 Hours: Manchester City Yas Residences by Ohana Development Sets New Sales Record In Abu Dhabi17.3.2026 16:44:00 CET | Press release
• 35% of investors are Emiratis, while 65% are expatriates and international investors • Milestone reflects strong demand for the project and continued confidence in the UAE’s real estate sector Ohana Development, a leading UAE real estate developer renowned for its luxury projects, has recorded USD 1.63 billion in sales within 72 hours for Manchester City Yas Residences by Ohana, a gated waterfront community located along Yas Canal in Abu Dhabi, setting a new sales record in the emirate’s real estate market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317595867/en/ Manchester City Yas Residences by Ohana (Photo: AETOSWire) Investors queued at the sales launch, reflecting the strong demand for the project. Of the investors, 35% are Emiratis, while 65% are expatriates and international buyers. In response to this significant interest, Ohana Development is expected to release additional inventory from the project soon. I
Speech Processing Solutions Launches Philips SpeechLive Health, an AI Assistant Built for Modern Clinical Documentation17.3.2026 15:00:00 CET | Press release
Philips SpeechLive Health AI Assistant uses healthcare-trained AI to convert clinical conversations into structured notes, helping clinicians reduce administrative burden Speech Processing Solutions, the global leader in professional dictation and speech solutions sold under the Philips brand, today announced the upcoming April 2026 launch of Philips SpeechLive Health AI Assistant, an AI-powered clinical documentation assistant designed for healthcare professionals across multiple care settings. This solution reduces administrative burden, streamlines documentation, and improves provider and patient experiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317743584/en/ Philips SpeechLive Health AI Assistant turns clinical conversations into structured documentation, helping reduce administrative workload and create more time for patient care. Purpose-built for clinical documentation workflows Clinical workload remains
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