Taulia, which gives companies discounts when they pay suppliers early, announced today that it has raised $3.2 million in its first round of funding.
Taulia lets suppliers opt into a program that offers discounts on invoices if companies are willing to pay early. The idea is to avoid excruciatingly long payment cycles, where larger and more unwieldy companies can take as long as two months to pay a supplier for goods. Suppliers don’t have to wait a long time to get paid, and businesses can shave of a little bit of their costs by paying early.
The company claims to save other businesses tens of millions of dollars every year through these early bird discounts. The service is embedded into SAP’s business management software, so companies that rely on that software are able to take advantage of the large network of suppliers also using it.
Taulia’s services can also be integrated into other third-party systems through the use of self-contained widgets, if a business doesn’t use SAP’s software. Its customers include some of the largest companies in the world on the Fortune 1000 list.
The funding was led by Matrix Partners and Trinity Ventures.
Taulia is based in San Francisco and was founded in 2009.