ZIPHQ, INC. (Zip)

Zip is a privately held technology company headquartered in San Francisco, California, that provides an AI-powered procurement orchestration platform. Founded in 2020 by Rujul Zaparde (CEO) and Lu Cheng (CTO), with Felix Meng as a co-founder, the company's mission is to transform the procurement process, enabling businesses to acquire goods and services with greater speed, transparency, and control.

Zip's platform offers a comprehensive suite of products and services designed to streamline the entire intake-to-pay lifecycle. Key offerings include Intake-to-Procure, Procure-to-Pay, Supplier Onboarding, Sourcing, Risk Orchestration, AI Contract Orchestration, and AI Procurement Concierge. The platform acts as a single entry point for all corporate purchase requests, utilizing configurable approval workflows, vendor management, real-time spend insights, and end-to-end automation. It integrates with existing ERPs and financial systems to provide a unified view of vendor information, contracts, purchase orders, and invoices, serving startups, mid-market, and large enterprises across various industries.

In October 2024, Zip secured $190 million in Series D funding, bringing its valuation to $2.2 billion. The company has recently expanded its global footprint with offices in Toronto and London and has been recognized by Fast Company's Next Big Things in Tech 2025 and Forbes Fintech 50. Zip has also launched 50 specialized AI agents to automate procurement tasks, further enhancing its market positioning as a leading AI-powered solution for enterprise procurement. Its customer base includes prominent companies such as OpenAI, Snowflake, Sephora, Discover, Anthropic, Arm, Canva, Coinbase, and Reddit, with claims of saving customers over $6.8 billion and processing more than $500 billion in spend.