TranscendAP, Inc., a leading provider of accounts payable (AP) automation software, announced that it has secured venture funding to scale operations and support the company's aggressive growth strategy. The funding round was led by Rittenhouse Ventures and Tech Council Ventures, supporting TranscendAP's mission to drive innovation across AP operations for enterprise organizations.

TranscendAP will utilize the investment to enhance its AI-driven technology platform, accelerate market penetration, and build on its recent momentum, which includes notable customer wins across the healthcare, manufacturing, and higher education markets. Clients include Aspen Surgical, Loomis, George Mason University, Kaiser Aluminum, Powell Industries, and Arizona Arthritis & Rheumatology Associates, demonstrating the flexibility and configurability of the TranscendAP platform and its ability to meet the unique needs of diverse AP departments.

"AP automation has moved from being a back-office necessity to a true strategic advantage," said Jeff Weinstein, Co-Founder and CEO of TranscendAP. "Securing this venture funding is a major milestone for us, empowering our team to accelerate AI innovation, expand our platform, and continue transforming how organizations across industries manage their accounts payable. It's especially rewarding to be backed by two venture firms with a proven track record and a team that I've had great success with before."

As organizations increasingly look to apply AI to streamline financial operations, TranscendAP's platform stands out for its intelligent data capture, workflow automation, and exception handling capabilities, helping enterprise AP teams reduce manual processing, improve visibility, and lower invoice processing costs.