Nipendo secures $8m in funding, plans to open Boston office
Nipendo said Monday that it has closed an $8 million Series B funding round, and the Israeli company added that it will use the money to expand to the US and open an office in Boston.
Nipendo provides its customers with a cloud-based, trading partner network that removes the barriers to widespread deployment of electronic procurement and invoicing.
Nipendo noted in a press release that its platform is used by such big companies as Pfizer, HP, Lilly, IBM, and Office Depot.
The funding round was led by Horizons Ventures, which manages the private venture investments of Li Ka-shing in the technology sector globally. Previous investor Tel Aviv-based Magma Venture Partners also participated in the round.