Approve - About the company
Approve is an acquired company based in Tel Aviv (Israel), founded in 2019 by Bar Winkler and Amit Mittelman. It operates as a Provider of procurement platform for businesses. Approve has raised $5M in funding from Aleph. The company has 675 active competitors, including 97 funded and 85 that have exited. Its top competitors include companies like Coupa, Zaggle and Procurify.
Company Details
Approve is a provider of a procurement platform for businesses. Its features include purchasing workflows, manage vendor interactions, and more. It allows users to customize approval flows based on the organizational structure and sync with real-time budgets to allow users to make informed decisions. It also provides built-in payments.
- Website
- approve.com
- Social
- Email ID
- *****@approve.com
Key Metrics
Founded Year
2019
Location
Tel Aviv, Israel
Stage
Acquired
Total Funding
$5M in 1 round
Latest Funding Round
Ranked
65th among 675 active competitors
Employee Count
6 as on Aug 31, 2026
Exit Details
Acquired by Tipalti (Apr 12, 2021)
Approve's acquisition details
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Approve's funding and investors
Approve has raised a total funding of $5M over 1 round. Its latest funding round was a Seed round on Aug 06, 2020 for $*****. 1 investor participated in its latest round. Approve has 2 institutional investors.
Here is the list of recent funding rounds of Approve:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Aug 06, 2020 | 5753861 | Seed | 8227979 | 6818399 | 8890469 | 1406081 |
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Approve's founders and board of directors
Founder? Claim ProfileHere are the details of Approve's key team members:
- Bar Winkler: Co-Founder & CEO of Approve and founder of 1 other company. Contact Info: 2 email addresses
- Amit Mittelman: Co-Founder of Approve and founder of 1 other company.
View details of Approve's Founder profiles and Board Members
Approve's employee count trend
Approve has 6 employees as of Aug 26. Here is Approve's employee count trend over the years:
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Approve's Competitors and alternates
Top competitors of Approve include Coupa, Zaggle and Procurify. Here is the list of Top 10 competitors of Approve, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Coupa 2006, San Mateo (United States), Acquired | Provider of cloud-based business spend management platform leveraging AI to help companies achieve visibility, control, and optimization of total spend | $169M | 86/100 | |
2nd | Platform designed to streamline business spends, payments, and rewards through automated and innovative workflows | $13.7M | 80/100 | ||
3rd | Developer of procurement software for managing organizational spend and workflows | $82.5M | 73/100 | ||
4th | Airbase 2017, San Francisco (United States), Acquired | Provider of a platform integrating human resources, finance, and information technology | $91M | 72/100 | |
5th | GEP 1999, Clark (United States), Unfunded | Cloud-based procurement-to-pay solutions | - | - | 69/100 |
6th | Platform offering AI-powered vendor digitization, procurement and supply chain financing solutions | $307M | 68/100 | ||
7th | SAP Ariba 1996, Palo Alto (United States), Acquired | E-procurement, invoicing, and B2B collaboration software for businesses | - | 65/100 | |
8th | PayEm 2019, San Francisco (United States), Series A | SaaS-based expense management solutions for corporate organisations | $47M | 64/100 | |
9th | _1560846211130.png?devicePixelRatio=2&height=30&width=30){kind=logo} SkySelect 2011, San Francisco (United States), Series A | Provider of an AI-powered platform for aircraft parts procurement and sourcing | $9M | 64/100 | |
10th | Ivalua 2000, Redwood City (United States), Series B | Developer of software for procurement spend and supplier management processes | $134M | 64/100 | |
65th | Provider of procurement platform for businesses | $5M | 42/100 |
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Approve's Investments and acquisitions
Approve has made no investments or acquisitions yet.
Reports related to Approve
Here is the latest report on Approve's sector:
News related to Approve
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Photon Control Securityholders Approve Acquisition by MKS InstrumentsFinancial Post•Jun 30, 2021•Photon Control, MKS Instruments, Approve
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Aleph leads $5 million seed round in smart procurement platform ApproveCTech•Aug 06, 2020•Aleph, Approve, ironSource, Sisense and 3 others
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