ZipHQ, Inc.

Founded in 2020 by Rujul Zaparde (CEO) and Lu Cheng (CTO), and based in California, US, ZipHQ, Inc. , aka Zip, operates as a provider of procurement solutions. In October 2024, ZipHQ, Inc. raised USD 190 million in series D funding led by Bond, with participation from DST Global, Adams Street Partners, Alkeon Capital Management, Y Combinator and CRV.

Zip develops a platform that enables employees to initiate a purchase or vendor request for approval across finance, legal, procurement, IT, security, and other teams. The platform routes requests to finance, IT, data, security, legal, and other teams, based on the type of purchase, the questions answered, and the user's cost center, checks against price benchmarks, and integrates with the accounting, contract management, and IT systems. ZipHQ generates revenue by offering an AI-powered procurement orchestration platform that streamlines intake-to-pay processes for businesses. The company plans to use the funding from October 2024 to build its in-house procurement software, expand AI capabilities that work with existing enterprise systems, and grow its presence in EMEA by scaling teams and operations in the UK, Germany, and France.