Since its reorganization in 2024 from a former Optima Global Solutions unit, TranscendAP has focused on enterprise AP automation and cloud-based AI capabilities.

Launched in 2018, the platform targets enterprise customers across healthcare, higher education, and manufacturing sectors.

Notable clients include Aspen Surgical, Loomis, George Mason University, Kaiser Aluminum, Powell Industries, and Arizona Arthritis & Rheumatology Associates.

Rittenhouse Ventures’ David Nevas argues that 90% of the AP automation market remains underserved and that TranscendAP can cut per-invoice costs by roughly 70%.

Industry context points to AI-driven AP solutions delivering substantial gains, with many firms still handling manual payment processes.

The funding round was led by Rittenhouse Ventures and Tech Council Ventures, emphasizing Mid-Atlantic region investment in early-stage to growth-stage tech companies.

Tech Council Ventures targets promising early-stage to rapid-growth technology companies in the Mid-Atlantic, with typical initial investments and strong GP involvement.

The investors’ focus aligns with TranscendAP’s trajectory as it scales its AI-powered AP platform with enterprise customers.

TranscendAP announced in late October 2025 that it secured venture funding to scale its AI-powered accounts payable automation platform and accelerate growth.

The company, based in Hamilton, New Jersey, has been building its AI-driven AP automation software and aims to expand operations with the new funding.

Tech Council Ventures and industry peers praised the team’s ability to deliver enterprise value and transform AP automation across a broad range of organizations.

TranscendAP’s platform aims to reduce manual AP processing, improve visibility, and lower invoice processing costs via intelligent data capture, workflow automation, and exception handling.