Latest news with #RujulZaparde
Business Wire
26-07-2025
- Business
- Business Wire
CORRECTING and REPLACING Zip Marks Fifth Anniversary with New Offices in San Francisco and New York
SAN FRANCISCO--(BUSINESS WIRE)--Please replace the release dated July 24, 2025, with the following corrected version due to multiple revisions. "The fact that Fortune 500 companies across financial services, telecommunications, healthcare, defense, and retail are choosing a five-year-old company over established vendors speaks to how fundamentally we've reimagined procurement." Share The updated release reads: ZIP MARKS FIFTH ANNIVERSARY WITH NEW OFFICES IN SAN FRANCISCO AND NEW YORK Agentic Procurement Orchestration Leader Doubles Office Footprint Amid Explosive Growth, Surpasses Hundreds of Billions in Processed Requests Zip, the world's leading agentic procurement orchestration platform, today celebrated its fifth anniversary by unveiling expanded offices in San Francisco and New York to accommodate rapid workforce growth driven by unprecedented enterprise adoption. The company has grown from 250 to over 500 employees in the past year alone while securing Global 2000 customers across every major industry. Five years ago, Zip's founders chose to tackle procurement – hardly the most glamorous corner of technological innovation. While others chased trendy markets, Zip focused on the overlooked but critical process of how companies buy what they need. Few shared their vision. Then the world changed. Supply chain disruptions, inflation, and tariffs turned procurement from a back-office afterthought into a C-suite priority. What Zip had been quietly building suddenly became every CEO's top concern. That early vision, combined with five years of relentless innovation and AI leadership, explains why global giants from OpenAI to Discover are choosing Zip to transform their operations. 'Over the past five years, we've built something remarkable – a product so sticky that we've maintained 100% retention across our strategic enterprise customers,' said Rujul Zaparde, Co-founder and CEO of Zip. 'The fact that Fortune 500 companies across financial services, telecommunications, healthcare, defense, and retail are choosing a five-year-old company over established vendors speaks to how fundamentally we've reimagined procurement. We've processed over hundreds of billions in total purchasing request volume since our founding five years ago and we've barely scratched the surface of the global opportunity.' From Zero to $2.2 Billion: Five Years of Unprecedented Growth Zip's journey from startup to enterprise standard represents one of the fastest value creation stories in enterprise software history. In October 2024, the company secured $190 million in Series D funding at a $2.2 billion valuation, marking the largest investment in procurement technology in over two decades and validating Zip's position as the category leader. Since its founding in 2020, Zip has achieved milestones that typically take enterprise software companies decades: Customer Momentum: Trusted by hundreds of global enterprises including AMD, Anthropic, Canva, Coinbase, Discover, Lyft, Northwestern Mutual, OpenAI, Pinterest, Reddit, Sephora, and Snowflake Financial Impact: Generated $4.4 billion in customer savings, with companies averaging 3.6% reduction in total spend savings and 25% in productivity gains Product Innovation: Introduced intake to the world, pioneered orchestration, and launched the industry's first agentic AI suite with 50+ procurement agents. Platform has delivered 4.6 million AI insights and achieved unprecedented engagement for an enterprise software platform with 14 million customer comments Doubling Down on Talent and Geographic Expansion To support its trajectory, Zip is hiring aggressively across all markets while significantly expanding its physical footprint: San Francisco: New headquarters doubles office space to 75,000 square feet, housing 200+ employees from top universities like Stanford and MIT, and companies like Meta, Airbnb, and Scale. The expansion reaffirms Zip's commitment to San Francisco as its global headquarters, investing in the city's downtown revitalization New York: Expanding beyond co-working to establish a permanent Manhattan headquarters, positioning Zip closer to financial services and media giants Global Reach: 60+ employees across EMEA, with continued expansion in London The company has grown from approximately 250 employees to over 500 in the past year, hiring 100+ people per quarter, with spending heavily weighted toward R&D. Five Years of Relentless Innovation Zip's trajectory from introducing intake to pioneering agentic procurement orchestration showcases the company's ability to anticipate and shape market needs: 2020: Founded with a vision to fix broken procurement processes; introduced intake and procurement orchestration to the world, transforming how companies start the procurement process 2021: Revolutionized workflows by launching dynamic approvals and integrating with 25+ enterprise systems including ERPs, CLMs, and GRC platforms 2022: Expanded beyond intake to full Procure-to-Pay capabilities, enabling end-to-end procurement orchestration 2023: Became the first procurement platform to embed generative AI, delivering millions of AI-powered insights to customers 2024: Launched the Integration Platform enabling rapid enterprise deployments; established the Zip AI Lab following landmark Series D funding 2025: Introduced Agentic Procurement Orchestration; unveiled suite of 50+ specialized AI agents that autonomously handle complex procurement tasks from tariff analysis to contract reviews 'Five years ago, we introduced intake to the world. We scaled orchestration. Now, we're shaping the agentic future with 50+ AI agents that are redefining what procurement is capable of,' added Lu Cheng, Zip Co-founder and CTO. 'The most exciting part? We're just getting started.' This fall, Zip will host Zip Forward 2025 at San Francisco's Yerba Buena Center for the Arts, where 750+ procurement and finance leaders will gather under the theme 'Agents of Change.' To request an invitation, please visit About Zip Zip is the world's leading agentic procurement orchestration platform, empowering businesses to accelerate the procurement process, mitigate risk, and drive growth by offering a single front door to unify the teams, tasks, and tools involved in working with suppliers. With Zip, businesses can maximize employee adoption of purchasing policies and increase spend visibility and control. As the leading solution for optimizing business spend, Zip's AI-powered platform is trusted by hundreds of leading enterprises worldwide, including AMD, Anthropic, Coinbase, Discover, Dollar Tree, Instacart, Invesco, Lyft, Northwestern Mutual, Prudential, Reddit, Sephora, and Snowflake to maximize the ROI of every dollar. To learn more, visit
Business Wire
16-07-2025
- Business
- Business Wire
Zip Named to CNBC's World's Top Fintech Companies 2025
SAN FRANCISCO--(BUSINESS WIRE)-- Zip, the world's leading agentic procurement orchestration platform, today announced its inclusion in CNBC's World's Top Fintech Companies 2025 list in the Enterprise Fintech category. Developed in partnership with Statista, the annual ranking evaluated over 2,000 companies based on comprehensive performance metrics across key fintech sectors. The recognition adds to recent Zip honors, which include Forbes 2025 Fintech 50, Fast Company's Most Innovative Companies of 2025, Inc.'s Best in Business Awards, and more. Zip named to @CNBC World's Top #Fintech Companies 2025 in Enterprise Fintech category alongside Visa, Stripe, and other industry leaders Share 'Being recognized by CNBC validates our belief that procurement is no longer seen as a back-office function, it's become mission-critical for the financial health of every global enterprise,' said Rujul Zaparde, Co-founder and CEO of Zip. 'In just five years, we've gone from a startup to the platform trusted by the world's largest companies to manage their most complex purchasing decisions.' Zip's selection in the Enterprise Fintech category – which recognizes companies delivering technology-driven solutions for financial institutions and businesses – comes as Zip experiences unprecedented growth, driven most recently by its June 2025 launch of its agentic AI suite that allows companies to autonomously handle complex procurement tasks. Zip's specialized agents, each focused on a single function like tariff analysis, contract review, or compliance checking, are helping Fortune 500 companies eliminate millions of hours of manual work while reducing risk and driving savings. The platform's impact on enterprise operations has been profound: Customers average 3.6% in annual spend savings Companies gain 25% in productivity through automated workflows Snowflake alone has saved $305 million annually using Zip Discover Financial increased procurement throughput by 67% The platform maintains 100% retention across strategic enterprise customers Since its founding in 2020, Zip has redefined enterprise procurement, growing from a simple intake solution to a comprehensive orchestration platform processing billions in corporate spending. The company's October 2024 Series D funding of $190 million at a $2.2 billion valuation – the largest investment in procurement technology in over two decades – underscored investor confidence in Zip's vision. Today, Zip serves many of the world's largest and most innovative companies, including AMD, Anthropic, Discover, Northwestern Mutual, OpenAI, Reddit, Sephora, and Snowflake. As supply chain disruptions, inflation, and tariffs continue to challenge global businesses, these enterprises rely on Zip to transform procurement from a cost center into a strategic advantage. To learn more about Zip, visit About CNBC's World's Top Fintech Companies The World's Top Fintech Companies list, produced annually by CNBC and market research firm Statista, recognizes companies transforming financial services through technology innovation. The comprehensive evaluation process analyzes both general and segment-specific KPIs to identify leaders across seven fintech categories including payments, neobanking, digital assets, and enterprise fintech. The 2025 list evaluated over 2,000 companies between February and May 2025. The United States leads with 126 companies on the list, followed by the U.K. with 38 and Singapore with 16. About Zip Zip is the world's leading agentic procurement orchestration platform, empowering businesses to accelerate the procurement process, mitigate risk, and drive growth by offering a single front door to unify the teams, tasks, and tools involved in working with suppliers. With Zip, businesses can maximize employee adoption of purchasing policies and increase spend visibility and control. As the leading solution for optimizing business spend, Zip's AI-powered platform is trusted by hundreds of leading enterprises worldwide, including AMD, Anthropic, Coinbase, Discover, Dollar Tree, Instacart, Invesco, Lyft, Northwestern Mutual, OpenAI, Prudential, Reddit, Sephora, and Snowflake to maximize the ROI of every dollar. To learn more, visit
Business Wire
11-06-2025
- Business
- Business Wire
Zip Unveils Suite of 50 AI Agents to Automate High-Impact Tasks Across Finance, Legal, Procurement, IT, and Security
SAN FRANCISCO--(BUSINESS WIRE)-- Zip, the AI platform for procurement, today unveiled a groundbreaking suite of 50 purpose-built AI agents at its inaugural Zip AI Summit in Brooklyn, New York. Leveraging Zip's agentic AI suite for procurement, companies can now eliminate millions of hours of manual, tedious work currently plaguing every department across the enterprise – from tariff assessments to contract reviews, compliance checks, and more. With this launch, Zip introduces agentic procurement orchestration, a breakthrough new category that automates the entire purchasing process, giving the world's largest organizations a competitive edge in an increasingly volatile and resource-tight global market. 'Zip's approach to agentic AI is going to make global companies more secure, save them millions of hours of laborious work, and generate billions in hard-dollar savings,' said Rujul Zaparde, Co-Founder and CEO of Zip. Procurement represents the second-largest spend category after payroll, yet remarkably few organizations have successfully applied AI, leaving trillions of dollars managed through manual, error-prone processes. Zip, which became the first procurement platform to introduce generative AI features back in 2023, has already helped hundreds of global companies streamline purchasing – delivering over 4.6 million actionable AI insights and saving customers billions. Today's launch represents a fundamental leap forward as Zip moves beyond AI-assisted workflows to deploying intelligent agents that autonomously complete entire tasks on their own. 'Today Zip is cutting through the agentic AI hype with AI agents that actually work,' said Rujul Zaparde, Co-Founder and CEO of Zip. 'Not vague chatbots. Not generic assistants. Real, specialized AI agents that do one job and do it perfectly. Zip's approach to agentic AI is going to make global companies more secure, save them millions of hours of laborious work, and generate billions in hard-dollar savings.' OpenAI, Canva, Wiz, and Webflow are among the first companies to leverage Zip's groundbreaking AI agents. These and other long-time Zip customers have collaborated closely within the Zip AI Lab – launched during the company's landmark Series D funding round – flagging pain points across the purchasing lifecycle that the platform now addresses autonomously. 'We've worked closely with the Zip team to power their agentic platform and it's been really exciting to see how quickly they've turned real-world procurement pain points into focused AI task agents with our APIs,' said Kathryn Devlin, Head of Procure-to-Pay Operations, Travel and Expense at OpenAI. 'As part of our overall collaboration, we're excited to be among the first to integrate their AI agents to help manage spending and drive efficiency across the organization.' Zip's Agentic AI Suite at a Glance Zip's suite of 50+ AI agents enables customers to automate complex procurement tasks, including: AI Agent Builder: Provides an easy, no-code platform to build, customize, deploy and train AI agents. Tariff Analysis Agent: Dynamically assesses the impact of global trade policies on vendor pricing, helping companies navigate complex international procurement landscapes. Competitive Research Agent: Surfaces vendor alternatives and market rates to inform smarter, more strategic sourcing decisions. RFP Generation Agent: Drafts tailored Request for Proposal documents based on specific purchase requirements, dramatically reducing manual preparation time. DORA Assessment Agent: Screens vendors for DORA exposure and surfaces red flags for legal and procurement. GDPR Compliance Agent: Flags potential privacy risks in vendor documents, ensuring regulatory compliance. ESG Profile Agent: Identifies and evaluates ethical and sustainability concerns in potential supplier relationships. 'We live in a world where procurement leaders need to utilize AI for our advantage, and Zip's approach to agentic AI does exactly that,' said Idan Cohen, Technology Procurement at Wiz. 'We'll save so much time on the technical work and day-to-day tasks that we need to do as part of the procurement process, and be enabled to really focus on what we're supposed to do – being a true partner to the business and to our vendors.' "Zip created an entirely new category of procurement applications, so it is appropriate to see them pressing forward and launching a suite of AI Agents, plus an AI Agent builder, that will drive efficiency, compliance and, ultimately, savings. Shaped by input from many of their hundreds of clients, Zip is providing a pathway to the future of procurement. We can't wait to see Zip Agents in action," said Patrick Reymann, Research Director, Procurement and Enterprise Applications, IDC. For more information or to request a demo, visit About Zip Zip is the world's leading agentic procurement orchestration platform, empowering businesses to accelerate the procurement process, mitigate risk, and drive growth by offering a single front door to unify the teams, tasks, and tools involved in working with suppliers. With Zip, businesses can maximize employee adoption of purchasing policies and increase spend visibility and control. As the leading solution for optimizing business spend, Zip's AI-powered platform is trusted by hundreds of leading enterprises worldwide, including AMD, Anthropic, Coinbase, Discover, Dollar Tree, HP, Instacart, Invesco, Lyft, Northwestern Mutual, Prudential, Reddit, Sephora, and Snowflake to maximize the ROI of every dollar. To learn more, visit
Finextra
10-06-2025
- Business
- Finextra
Zip unveils suite of AI agents
Zip, the AI platform for procurement, today unveiled a groundbreaking suite of 50 purpose-built AI agents at its inaugural Zip AI Summit in Brooklyn, New York. 0 Leveraging Zip's agentic AI suite for procurement, companies can now eliminate millions of hours of manual, tedious work currently plaguing every department across the enterprise - from tariff assessments to contract reviews, compliance checks, and more. With this launch, Zip introduces agentic procurement orchestration, a breakthrough new category that automates the entire purchasing process, giving the world's largest organizations a competitive edge in an increasingly volatile and resource-tight global market. Procurement represents the second-largest spend category after payroll, yet remarkably few organizations have successfully applied AI, leaving trillions of dollars managed through manual, error-prone processes. Zip, which became the first procurement platform to introduce generative AI features back in 2023, has already helped hundreds of global companies streamline purchasing - delivering over 4.6 million actionable AI insights and saving customers billions. Today's launch represents a fundamental leap forward as Zip moves beyond AI-assisted workflows to deploying intelligent agents that autonomously complete entire tasks on their own. 'Today Zip is cutting through the agentic AI hype with AI agents that actually work,' said Rujul Zaparde, Co-Founder and CEO of Zip. 'Not vague chatbots. Not generic assistants. Real, specialized AI agents that do one job and do it perfectly. Zip's approach to agentic AI is going to make global companies more secure, save them millions of hours of laborious work, and generate billions in hard-dollar savings.' OpenAI, Canva, Wiz, and Webflow are among the first companies to leverage Zip's groundbreaking AI agents. These and other long-time Zip customers have collaborated closely within the Zip AI Lab - launched during the company's landmark Series D funding round - flagging pain points across the purchasing lifecycle that the platform now addresses autonomously. 'We've worked closely with the Zip team to power their agentic platform and it's been really exciting to see how quickly they've turned real-world procurement pain points into focused AI task agents with our APIs,' said Kathryn Devlin, Head of Procure-to-Pay Operations, Travel and Expense at OpenAI. 'As part of our overall collaboration, we're excited to be among the first to integrate their AI agents to help manage spending and drive efficiency across the organization.' Zip's Agentic AI Suite at a Glance Zip's suite of 50+ AI agents enables customers to automate complex procurement tasks, including: AI Agent Builder: Provides an easy, no-code platform to build, customize, deploy and train AI agents. Tariff Analysis Agent: Dynamically assesses the impact of global trade policies on vendor pricing, helping companies navigate complex international procurement landscapes. Competitive Research Agent: Surfaces vendor alternatives and market rates to inform smarter, more strategic sourcing decisions. RFP Generation Agent: Drafts tailored Request for Proposal documents based on specific purchase requirements, dramatically reducing manual preparation time. DORA Assessment Agent: Screens vendors for DORA exposure and surfaces red flags for legal and procurement. GDPR Compliance Agent: Flags potential privacy risks in vendor documents, ensuring regulatory compliance. ESG Profile Agent: Identifies and evaluates ethical and sustainability concerns in potential supplier relationships. 'We live in a world where procurement leaders need to utilize AI for our advantage, and Zip's approach to agentic AI does exactly that,' said Idan Cohen, Technology Procurement at Wiz. 'We'll save so much time on the technical work and day-to-day tasks that we need to do as part of the procurement process, and be enabled to really focus on what we're supposed to do - being a true partner to the business and to our vendors.' "Zip created an entirely new category of procurement applications, so it is appropriate to see them pressing forward and launching a suite of AI Agents, plus an AI Agent builder, that will drive efficiency, compliance and, ultimately, savings. Shaped by input from many of their hundreds of clients, Zip is providing a pathway to the future of procurement. We can't wait to see Zip Agents in action," said Patrick Reymann, Research Director, Procurement and Enterprise Applications, IDC.
Forbes
02-06-2025
- Business
- Forbes
4 Steps Of Pivoting In The Age Of AI
The ability to pivot effectively has become less of an occasional necessity and more of a core leadership competency. Especially as artificial intelligence reshapes entire industries at breakneck speed, start-up leaders are discovering that successful pivots require a unique blend of analytical rigor, emotional intelligence, and strategic courage. My conversations with four leaders—each navigating their own transformational journey—a clear framework emerges for how to orchestrate meaningful change without losing your organizational soul. When Rujul Zaparde, co-founder of procurement platform Zip, saw the emergence of ChatGPT, he didn't rush to slap AI onto existing features. Instead, he took his team back to fundamentals. "We really took a first principles approach to the company and the product to sort of say, okay, how do we, like, if we were to solve this problem, like, you know, the problem we solve for, like, what's the best way to solve it today?" This methodical approach proved transformative. Rather than viewing AI as a trendy add-on—which generally doesn't solve any real problem—Zaparde's team recognized they were uniquely positioned as an "orchestration layer" with access to supplier data, contract information, and financial systems that individual point solutions couldn't match. Their AI capabilities have since been used over four and a half million times. The lesson? Before pivoting, strip away assumptions and return to core problems. 1. What are your customers struggling with? 2. How intense is this problem? 3. How often do they experience this problem? 4. What's left short with your current approach? 5. How might your leverage any accumulated strengths and capabilities to develop a new approach? That requires writing, which brings us to step number two. Perhaps nowhere is the complexity of organizational pivots more apparent than at Chef, the marketplace connecting local cooks with neighbors. CEO Joey Grassia discovered that even when data clearly indicated the need for change, execution required something more nuanced than compelling metrics. "It really did take us 12 to 18 months to change the culture of the company so that people were willing to question what we've always done and willing to acknowledge that we may have to burn the boats on our old business to make the leap into the new one," Grassia reflects. The breakthrough came when Grassia crystallized the company's direction in a comprehensive memo outlining three specific milestones around growth, efficiency, and scale. "It wasn't until I wrote that memo and it was like, these are the three milestones of building a great business. Our existing business has no chance of accomplishing these things, so we have to disrupt ourselves. That was really the turning point." The transformation was dramatic. Writing a memo is one of the best ways to fast-track clarity. Since the pivot, Chef moved from standalone orders to standardized subscriptions, reducing customer cognitive load from 25 minutes per order to under 75 seconds for subsequent weeks. Forty percent of existing users opted into the new recurring model without any marketing push, and user spend tripled. Grassia found that successful pivots require what he calls "the wisdom to know that you need to do it and the courage to actually take the leap." But between wisdom and courage lies the critical work of building organizational conviction through clear, logical communication. While data and strategy provide the rational foundation for pivots, Charlie Greene, founder of memory-preservation platform Remento and recent Shark Tank winner, demonstrates why the most successful transformations also require deep emotional intelligence. Greene learned this lesson through experience: "Pivots are incredibly easy to talk about in retrospect, they're incredibly difficult to navigate as they're unfolding. Because you never wake up one day and realize that today is the day you're going to pivot." For Remento, the pivot from a conversation-structuring tool to a book-creation platform wasn't just about product features—it required reimagining their entire value proposition. The original product had high download rates but low usage. "While we had built a product that aligned perfectly with what users told us they wanted, we quickly learned that our solution didn't remove nearly enough of the friction needed to spur adoption." Greene's approach to managing this uncertainty offers a lesson in communication. "One of our values is clear as kind," he explains. "Being able to say to your team, look, here's where we are right now. Does anyone disagree with where we are right now? You know, like, okay, we can agree this is where we are right now. Can we all agree where we need to be in three months?" Greene emphasizes bringing teams into the decision process while maintaining ultimate accountability—a delicate balance between vulnerability and authority. In the next decade, AI will likely disrupt every company and every industry. If you're not examining how true that's likely to be for your business, you'll get swallowed by a competitor. Bryan Power, Head of People at Nextdoor, shared just how urgent this transformation is. Having navigated multiple organizational turnarounds, Power sees AI as fundamentally different from previous technological shifts. "One of the major disruptions that AI is doing is certain activities now the turnaround is so fast that managers have a mental model of how long something takes in their head because they did it when they were a contributor. But this is now something that takes minutes that used to take days." This speed transformation creates unprecedented management challenges. As Power explains, "What happens to those five days has not really been worked through because as an employee I'm like, you're paying me to do this thing. It doesn't matter. Fifteen minutes, five days. I did what you told me to do." Power's response at Nextdoor has been characteristically direct: comprehensive AI training programs and a cultural mandate that everyone must engage with these tools. "I can actually tell if someone's been using AI for a month or three months or for six months," he notes. "I can see the learning moves that people make in the early going, and by extension I can see when they haven't made them yet." The broader implication is sobering: "I saw people not embrace the Internet. And like, think about that point of view today is just mind boggling to me. But in my time, in my career, my early 20s, I saw the people that embraced it and it just completely made the first five to 10 years of their career because they were out front." Four key insights emerge from these leaders' experiences: Start with your problem. Before implementing any change, return to fundamental questions about the problems you're solving and whether current approaches can scale to meet future demands. Build internal logic through clear communication. Successful pivots require more than good ideas—they need comprehensive strategies with measurable milestones that help teams understand not just what's changing, but why change is inevitable. Balance data with emotional intelligence. While metrics provide direction, the human element of change management—creating psychological safety, maintaining transparency, and holding space for uncertainty—often determines execution success. Move quickly. Rather than viewing artificial intelligence as an optional enhancement, treat it as a fundamental shift that requires organizational learning and adaptation at every level. Finally, the leaders profiled here share one crucial characteristic: they didn't wait for perfect information before acting. Instead, they developed frameworks for making decisions under uncertainty while building organizational capabilities to execute those decisions effectively. In an era where the pace of change continues to accelerate, the question isn't whether your organization will need to pivot—it's whether you're building the cultural and strategic capabilities to do so successfully. The most successful pivots combine analytical rigor with human wisdom, creating organizations that don't just survive change but thrive because of it.
