Home Technology Slope secures $30M for AI-based B2B payment solution.

Slope secures $30M for AI-based B2B payment solution.

Slope secures $30M for AI-based B2B payment solution.

San Francisco-based AI startup, Slope, is aiming to solve the challenges faced by B2B companies in tracking and ensuring the integrity of payments. The company is developing a B2B payments tracking and receiving platform that utilizes its own “rules-based” technology and OpenAI’s GPT-3.5 Turbo. With a recent $30 million equity round led by Union Square Ventures, Slope plans to continue building its team and technology, including an online payments and invoicing tool. The platform covers various aspects of the B2B customer payments journey, from customer onboarding and risk assessment to invoicing, billing, and syncing into accounting systems. Slope also provides financing options for customers who need credit.

Slope’s approach revolves around obtaining “clean data” from its enterprise customers, which is crucial for the platform’s effectiveness. By gathering and formatting all relevant data about the orders received, processed, and shipped out by its customers, Slope can assess creditworthiness and fraud risk for B2B buyers. Their tool, SlopeGPT, uses OpenAI’s GPT to cluster data into embeddings that can identify regular and anomalous payments. Slope also utilizes its own proprietary large language models (LLMs) trained on public data to accurately identify risk. The platform offers features such as Slope Timeline, which provides real-time information about payment and product shipping statuses, resulting in improved visibility for businesses.

Overall, Slope aims to provide B2B companies with a gold standard payment tracking and receiving platform that ensures timely payments and reduces risks associated with B2B transactions. With its focus on clean data and AI-powered techniques, Slope offers a comprehensive solution for managing the entire B2B customer payments journey. The recent equity round will enable Slope to continue innovating and expanding its team and technology, ultimately benefiting B2B sellers and their customers.

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