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.

Advertisement - Continue Reading Below

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.