CORRECTING and REPLACING Zip Marks Fifth Anniversary with New Offices in San Francisco and New York

Agentic Procurement Orchestration Leader Doubles Office Footprint Amid Explosive Growth, Surpasses Hundreds of Billions in Processed Requests

SAN FRANCISCO–(BUSINESS WIRE)–#procurement–Please replace the release dated July 24, 2025, with the following corrected version due to multiple revisions.

The updated release reads:

ZIP MARKS FIFTH ANNIVERSARY WITH NEW OFFICES IN SAN FRANCISCO AND NEW YORK

Agentic Procurement Orchestration Leader Doubles Office Footprint Amid Explosive Growth, Surpasses Hundreds of Billions in Processed Requests

Zip, the world’s leading agentic procurement orchestration platform, today celebrated its fifth anniversary by unveiling expanded offices in San Francisco and New York to accommodate rapid workforce growth driven by unprecedented enterprise adoption. The company has grown from 250 to over 500 employees in the past year alone while securing Global 2000 customers across every major industry.

Five years ago, Zip’s founders chose to tackle procurement – hardly the most glamorous corner of technological innovation. While others chased trendy markets, Zip focused on the overlooked but critical process of how companies buy what they need. Few shared their vision. Then the world changed. Supply chain disruptions, inflation, and tariffs turned procurement from a back-office afterthought into a C-suite priority. What Zip had been quietly building suddenly became every CEO’s top concern. That early vision, combined with five years of relentless innovation and AI leadership, explains why global giants from OpenAI to Discover are choosing Zip to transform their operations.

“Over the past five years, we’ve built something remarkable – a product so sticky that we’ve maintained 100% retention across our strategic enterprise customers,” said Rujul Zaparde, Co-founder and CEO of Zip. “The fact that Fortune 500 companies across financial services, telecommunications, healthcare, defense, and retail are choosing a five-year-old company over established vendors speaks to how fundamentally we’ve reimagined procurement. We’ve processed over hundreds of billions in total purchasing request volume since our founding five years ago and we’ve barely scratched the surface of the global opportunity.”

From Zero to $2.2 Billion: Five Years of Unprecedented Growth

Zip’s journey from startup to enterprise standard represents one of the fastest value creation stories in enterprise software history. In October 2024, the company secured $190 million in Series D funding at a $2.2 billion valuation, marking the largest investment in procurement technology in over two decades and validating Zip’s position as the category leader.

Since its founding in 2020, Zip has achieved milestones that typically take enterprise software companies decades:

• Customer Momentum: Trusted by hundreds of global enterprises including AMD, Anthropic, Canva, Coinbase, Discover, Lyft, Northwestern Mutual, OpenAI, Pinterest, Reddit, Sephora, and Snowflake
• Financial Impact: Generated $4.4 billion in customer savings, with companies averaging 3.6% reduction in total spend savings and 25% in productivity gains
• Product Innovation: Introduced intake to the world, pioneered orchestration, and launched the industry’s first agentic AI suite with 50+ procurement agents. Platform has delivered 4.6 million AI insights and achieved unprecedented engagement for an enterprise software platform with 14 million customer comments

Doubling Down on Talent and Geographic Expansion

To support its trajectory, Zip is hiring aggressively across all markets while significantly expanding its physical footprint:

• San Francisco: New headquarters doubles office space to 75,000 square feet, housing 200+ employees from top universities like Stanford and MIT, and companies like Meta, Airbnb, and Scale. The expansion reaffirms Zip’s commitment to San Francisco as its global headquarters, investing in the city’s downtown revitalization
• New York: Expanding beyond co-working to establish a permanent Manhattan headquarters, positioning Zip closer to financial services and media giants
• Global Reach: 60+ employees across EMEA, with continued expansion in London

The company has grown from approximately 250 employees to over 500 in the past year, hiring 100+ people per quarter, with spending heavily weighted toward R&D.

Five Years of Relentless Innovation

Zip’s trajectory from introducing intake to pioneering agentic procurement orchestration showcases the company’s ability to anticipate and shape market needs:

• 2020: Founded with a vision to fix broken procurement processes; introduced intake and procurement orchestration to the world, transforming how companies start the procurement process
• 2021: Revolutionized workflows by launching dynamic approvals and integrating with 25+ enterprise systems including ERPs, CLMs, and GRC platforms
• 2022: Expanded beyond intake to full Procure-to-Pay capabilities, enabling end-to-end procurement orchestration
• 2023: Became the first procurement platform to embed generative AI, delivering millions of AI-powered insights to customers
• 2024: Launched the Integration Platform enabling rapid enterprise deployments; established the Zip AI Lab following landmark Series D funding
• 2025: Introduced Agentic Procurement Orchestration; unveiled suite of 50+ specialized AI agents that autonomously handle complex procurement tasks from tariff analysis to contract reviews

“Five years ago, we introduced intake to the world. We scaled orchestration. Now, we’re shaping the agentic future with 50+ AI agents that are redefining what procurement is capable of,” added Lu Cheng, Zip Co-founder and CTO. “The most exciting part? We’re just getting started.”

This fall, Zip will host Zip Forward 2025 at San Francisco’s Yerba Buena Center for the Arts, where 750+ procurement and finance leaders will gather under the theme ‘Agents of Change.’ To request an invitation, please visit www.ziphq.com/forward-sf.

About Zip

Zip is the world’s leading agentic procurement orchestration platform, empowering businesses to accelerate the procurement process, mitigate risk, and drive growth by offering a single front door to unify the teams, tasks, and tools involved in working with suppliers. With Zip, businesses can maximize employee adoption of purchasing policies and increase spend visibility and control. As the leading solution for optimizing business spend, Zip’s AI-powered platform is trusted by hundreds of leading enterprises worldwide, including AMD, Anthropic, Coinbase, Discover, Dollar Tree, Instacart, Invesco, Lyft, Northwestern Mutual, Prudential, Reddit, Sephora, and Snowflake to maximize the ROI of every dollar. To learn more, visit ziphq.com.

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