What is Zip?
AI procurement orchestration and intake-to-pay platform
- Category
- Procurement software
- Headquarters
- San Francisco, California
- Founded
- 2020
- Employees
- 1,259 employees reported by May 2026 third-party data
- Total funding
- About $371M disclosed
- Valuation or Status
- $2.2B valuation in October 2024 Series D
What is Zip?
Zip is ai procurement orchestration and intake-to-pay platform.
Zip is ai procurement orchestration and intake-to-pay platform, operating in procurement software. Zip is an AI procurement platform for intake, workflow orchestration, sourcing, supplier onboarding, AP automation, payments, and procurement concierge workflows. Its site says customers include T-Mobile, OpenAI, AMD, Mars, and Dollar Tree, with more than $8B saved and over $500B in spend processed.
As of June 2026, the company is best understood as a private growth company with 1,259 employees reported by May 2026 third-party data, About $371M disclosed, and $2.2B valuation in October 2024 Series D. For sellers, the useful signal is where the company is concentrating spend: product velocity, compliance, data, infrastructure, customer success, and go-to-market systems that support its next stage.
Sources:Zip homepageZip newsroom
What does Zip offer?
Zip offers Intake-to-procure, Intake-to-pay, Workflow engine, Supplier onboarding, and related products for its market.
- Intake-to-procure· Procurement
- Intake-to-pay· Finance
- Workflow engine· Platform
- Supplier onboarding· Supplier management
- Sourcing· Procurement
- Superagents· AI
Sources:Zip homepageZip newsroom
How does Zip make money?
Zip makes money from enterprise SaaS subscriptions and implementation/expansion across procurement, finance, IT, legal, and AP teams.
Zip makes money from enterprise SaaS subscriptions and implementation/expansion across procurement, finance, IT, legal, and AP teams. Growth is driven by global procurement transformation, AI agents, workflow volume, supplier onboarding, payments, and enterprise integrations. Zip sells enterprise SaaS contracts with quote-based pricing by modules, regions, spend processes, integrations, and seats; it does not publish public per-seat tiers.
Because Zip is private, public revenue and margin disclosure is limited unless noted in recent reporting. The practical budget signal is the company's current operating motion: hiring, new product launches, customer expansion, and financing that funds engineering, security, data, compliance, and sales capacity.
Sources:Zip homepageZip newsroom
Who leads Zip?
Zip's leadership centers on Rujul Zaparde and Lu Cheng.
- Rujul ZapardeCo-founder and CEOCo-founder since 2020Former Airbnb operator and procurement-orchestration founder.
- Lu ChengCo-founder and CTOCo-founder since 2020Engineering leader focused on Zip's AI procurement platform.
- Zip product leadershipProductCurrent functionLeads intake-to-pay, AI agents, and platform expansion.
- Zip go-to-market leadershipRevenueCurrent functionRuns enterprise sales, customer success, and regional growth.
How do you contact Zip's leadership?
Zip publishes demo and contact flows but not personal executive emails.
Personal executive email format not verified; use zip.com request-demo/contact forms- Rujul ZapardeCo-founder and CEOPersonal executive email format not verified; use zip.com request-demo/contact forms
- Lu ChengCo-founder and CTOPersonal executive email format not verified; use zip.com request-demo/contact forms
- Zip product leadershipProductPersonal executive email format not verified; use zip.com request-demo/contact forms
- Zip go-to-market leadershipRevenuePersonal executive email format not verified; use zip.com request-demo/contact forms
Sources:Zip homepageZip newsroom
How much funding has Zip raised?
Zip has About $371M disclosed; latest valuation/status: $2.2B valuation in October 2024 Series D.
Zip has About $371M disclosed; latest valuation/status: $2.2B valuation in October 2024 Series D. 2020-2021: Seed / early financing. Zip launched from Y Combinator and early venture backing. May 2022: Series B — $43M at $1.2B valuation. TechCrunch reported Zip's procurement-concierge financing. May 2023: Series C — $100M at $1.5B valuation. YC, CRV, and Tiger Global invested. October 2024: Series D — $190M at $2.2B valuation. BOND led with DST Global, Adams Street, Alkeon, YC, and CRV.
Where a round amount or valuation has not been publicly disclosed, this profile says so rather than filling the gap. The seller signal is whether the latest financing created budget for hiring, infrastructure, compliance, enterprise sales, or geographic expansion.
How did Zip get here?
Zip's milestones show its path from founding to its current procurement software position.
- 2020Zip foundedRujul Zaparde and Lu Cheng started Zip after Airbnb.
- 2021YC and early enterprise adoptionZip built an intake layer for procurement requests.
- 2022Series B unicorn roundZip reached a $1.2B valuation.
- 2023Series C at $1.5BThe company raised $100M to expand procurement orchestration.
- October 2024Series D at $2.2BZip raised $190M, described as the largest procurement-tech investment in decades.
- 2026AI procurement positioningZip emphasized AI agents and intake-to-pay orchestration.
Sources:Zip homepageZip newsroom
Who are Zip's competitors?
Zip competes with category specialists and broader platforms serving the same buyer or user workflow.
- CoupaLarge enterprise spend-management suite.
- SAP AribaGlobal source-to-pay suite embedded in SAP procurement ecosystems.
- IvaluaEnterprise source-to-pay and supplier-management suite.
- ProcurifyMid-market spend management and purchasing platform.
- IroncladContract lifecycle management platform often adjacent to procurement workflows.
Sources:Zip homepageZip newsroom
Zip — frequently asked questions
