Slope, a San Francisco, CA-based company that offers an AI-powered payments platform designed for B2B businesses, raised $30 million in new funding, bringing its total amount raised including venture capital funding and debt financing, to $187 million.
SaaS Investors
Union Square Ventures led the round, with OpenAI LP’s Sam Altman, Y Combinator Management LLC, and various individuals also participating.
Founded in 2003, Union Square Ventures is a thesis-driven venture capital firm based in New York City. The firm focused on early-stage, growth capital, late-stage, and startup financing.
Slope Use of Funds
The new funding will be used to build additional tools to assist companies through every transaction stage and to invest in marketing.
About Slope
Founded in 2021, Slope offers a B2B payments platform designed to deliver smoother transactions between enterprises. It uses generative AI to power B2B checkout, customer and vendor risk assessment, payment reconciliation, and cash management to drive digital transformation. Core to the platform is Slope’s order-to-cash workflow, an automated solution for enterprise companies that begins with a customer order and concludes with successful payment collection. The platform is used by companies to streamline customer onboarding to invoicing, ensuring accurate transactions and enhanced customer satisfaction.
The company’s AI service, SlopeGPT, was launched in April and is said to categorize bank data more accurately than its counterparts, providing a higher-resolution picture of a business and improved risk detection.
Funding Details
Company: Slope Inc.
Raised: $30.0M
Round: Unknown
Funding Month: September 2023
Lead Investors: Union Square Ventures
Additional Investors: OpenAI LP’s Sam Altman, Y Combinator Management LLC
Company Website: https://slopepay.com/
Software Category: AI-powered B2B Payments Platform
Source: https://siliconangle.com/2023/09/27/ai-powered-b2b-payments-startup-slope-raises-30m-product-development/