Taulia, a US-based software as a service (SaaS) platform for buyers to manage and achieve discounts on supplier payments, has closed an initial tranche of $12.5m series C funding led by Germany-based investor Klaus Hommels through his Zurich-based venture fund Lakestar; also participating are Telus Ventures, the venture capital arm of Canada-based telecommunications company Telus, and prior Taulia investors, venture capital firms Matrix Partners, Trinity Ventures and DAG Ventures. The closing of a secondary $5.5m series C tranche is underway.
The funding is being used to scale operations.
Previously, Taulia raised $8.5m in series B funding in July 2011,and $3.2m series A funding in December 2010.
Bertram Meyer, chief executive officer of Taulia, said: “Making supplier financing easier and less expensive to acquire will accelerate the recovery of the world economy. Demand for our products has tripled in just a short number of months and this round of capital is in direct response to the growing global opportunity.”
The fundraising follows the recent signing, at the end of July, of a strategic partnership between Taulia and Telus, under which Telus will implement Taulia internally, as well as invest in and resell the solution in the Canadian market.
Mathew George, vice-president of Telus Ventures, said of the partnership: “Telus is pleased to enter this new partnership with Taulia and with the power of the go-to-market alliance we are creating. We are always seeking investment opportunities with companies that have both a strong earning potential and a focus within our areas of growth. The Taulia platform solution allows for simplified invoicing, discount capture and is highly scalable to Telus and to our partners.”
Taulia was founded in 2009.