TLDR:
- Tabs, a NYC-based provider of an accounts receivable platform for B2B businesses, raised $7M in Seed funding led by Lightspeed Venture Partners.
- The company will use the funds to expand operations and business reach with their AI-powered platform.
Tabs, a New York City-based company, recently secured $7M in seed funding led by Lightspeed Venture Partners. The funding will be utilized to further expand the company’s operations and business reach. Tabs offers an AI-powered accounts receivable platform specifically designed for B2B businesses. Led by CEO Ali Hussain, Tabs specializes in understanding and extracting complex elements from B2B contracts to streamline the automated accounts receivable process from contract to cash.
At the core of Tabs’ solution is Tabs AI, a proprietary platform that efficiently processes and extracts B2B contractual elements. This enables the automation of contract ingestion, invoicing, and payments, ultimately streamlining a company’s accounting processes. Clients such as Findigs, Pinata, and Inspiren have reported a reduction in time required to collect payments. The automation of tasks like invoice calculation and processing allows these companies to capitalize on market opportunities such as pricing changes, flexible sales models, and increased sales effectiveness.
This successful seed funding round signifies the potential for Tabs to continue revolutionizing the B2B accounts receivable landscape with its innovative AI-powered platform.
