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About Routable
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$46.1M
Headquarters
San Francisco, California
Founded
2017
Overview
Routable automates business payments for enterprise and mid-market clients, streamlining accounts payable and receivable processes. Their platform manages the entire payment lifecycle, including invoice processing, payment scheduling, and real-time payouts. By using Optical Character Recognition (OCR) technology, Routable significantly reduces invoice processing time by 60%, allowing businesses to optimize their payment methods, whether in monthly batches or instantly. The company generates revenue through subscription fees for platform access and transaction fees for processed payments, partnering with banks to ensure secure fund transfers. Routable prioritizes security with a dedicated team monitoring systems for vulnerabilities, which helps build trust with clients. Their team culture emphasizes empathy and inclusiveness, focusing on understanding customer needs and providing exceptional support.
Simplify's Take
What believers are saying
- Partnership with Convera enhances Routable's international transaction capabilities.
- AI integration for fraud detection is a growing trend benefiting Routable.
- Routable's AP automation addresses gig economy's slow payments and onboarding issues.
What critics are saying
- Increased competition from NICE Actimize in fraud prevention solutions.
- Regulatory compliance challenges with Convera's global payments network.
- Flexport's Convoy Platform expansion may affect Routable's logistics client base.
What makes Routable unique
- Routable automates the entire payment lifecycle, reducing manual work significantly.
- The platform uses OCR technology to cut invoice processing time by 60%.
- Routable's AI agent detects invoice fraud and human error, enhancing security.
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Funding
Total Funding
$46M
Below
Industry Average
Funded Over
3 Rounds
BoxGroup
Y CombinatorIndustry standards
Benefits
🏥 Great Health, Dental & Vision Insurance
💲 Competitive salary
📈 Stock options
💰 401k
💸 Work from Home stipend
🚀 We're a remote team
🏝 Flexible vacation policy
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -10%2 year growth
↓ -2%NICE Actimize added agentic AI capabilities to X-Sight ActOne, the company’s platform for fraud and financial crime prevention. Available through X-Sight ActOne’s InvestigateAI, the agentic AI capabilities orchestrate all fraud and financial crime prevention workflows on one platform, automate processes and engage human oversight only when necessary, the company said in a Wednesday (April 2) press release. “This empowers financial institutions to scale operations and realize transformative cost and labor efficiencies,” NICE Actimize CEO Craig Costigan said in the release
Routable has enhanced its accounts payable (AP) automation platform by adding an AI agent that can detect both invoice fraud and human error. “As fraudsters get more creative, it’s become impossible for humans to keep up,” Routable CEO and Co-Founder Omri Mor said in a Thursday (Feb. 6) press release. “Routable’s newest offering uses the power of AI [artificial intelligence] to detect and prevent both invoice fraud and human error — giving AP teams superhuman visibility to protect the business.”. The machine learning and generative AI now incorporated into Routable’s AP automation platform will detect invoice anomalies, duplicate invoices and human data entry errors, according to the release
The current risk scenario calls for greater reliance on secure, end-to-end payment platforms with built-in fraud prevention measures. Real-time monitoring and account validation can mitigate fraud risks and ensure that organizations are better prepared to fend off attacks.While increasing digitization has expanded the presence of cyberthreats, manual processes and payments can be even more vulnerable to attacks. Adopting digital, automated solutions that incorporate fraud detection at every step addresses this vulnerability and helps reduce exposure to B2B payment fraud.AP departments are facing rising cyberfraud risks, with more than eight in 10 U.S. companies targeted by sophisticated digital payment fraud tactics. Integrating real-time monitoring and intelligent fraud prevention systems can address these new security challenges, underscoring the need for stronger fraud prevention measures.yesSubscribe to our daily newsletter, PYMNTS Today By completing this form, I have read and acknowledged the terms and conditions .Thank you for registering. Please confirm your email to view all our Trackers.Register for Unlimited Access Complete the form below to enjoy free, unlimited access to all our Trackers, Studies and MonitorEdge Reports.As fraud attempts on businesses continue to rise, accounts payable (AP) departments are facing increased risks from cybercriminals
Convera, a global leader in commercial payments, today announced its partnership with Routable, the most efficient and flexible accounts payable platform.
We’re excited to announce that Routable has raised $12 million in Series A funding from Founders Co-op, Lee Fixel, Y Combinator, and many others.
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About Routable
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$46.1M
Headquarters
San Francisco, California
Founded
2017
There are no jobs for Routable right now.
Find jobs on Simplify and start your career today