Paperwork manager Nipendo lands $8M to add US enterprise customers


Nipendo, a company with a business-to-business Software-as-a-Service network for managing invoices and other processes, has taken on $8 million in Series B venture funding. Horizons Ventures led the round. The money, which brings the total the company has raised to $12 million, will help Nipendo add business in the United States. It already operates in France, India and Israel.

In addition to invoices, the Nipendo network lets companies exchange requests for proposal, purchase orders, delivery information, feedback about suppliers and other information.

The first version of the product became available in 2010, Co-founder and CEO Eyal Rosenberg said. Now several enterprises in Israel use the product, along with some in the United States, such as Hewlett-Packard (s hpq), IBM (s ibm) and Pfizer. (s pfe) The customer count has passed 3,500, Rosenberg said.

Nipendo faces competition from IBM’s (s ibm) Sterling Commerce and SAP’s Ariba. But legacy systems can…

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