Investment from Rittenhouse Ventures and Tech Council Ventures Supports Company’s Mission to Help Enterprise Organizations Transform Accounts Payable Operations
HAMILTON, NJ (October 30, 2025) – TranscendAP, Inc., a leading provider of accounts payable (AP) automation software, today 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.
“The accounts payable automation market is undergoing a crucial transformation, shifting rapidly from outdated, first-generation systems, with over 90% of the market still lacking effective AP automation,” said David Nevas, General Partner at Rittenhouse Ventures. “Their cloud-based, AI-first platform leverages best-in-class technology, providing critical value propositions like a 70% reduction in per-invoice costs and robust fraud detection capabilities. We believe the time to strike this market is now, and TranscendAP is perfectly positioned to capture significant share in the mid-market segment. The company has proven product-market fit with impressive customer wins and strong capital efficiency.”
This investment milestone not only validates TranscendAP’s approach to intelligent AP automation but also fuels the company’s ongoing initiative and commitment to help organizations worldwide achieve smarter, more efficient accounts payable operations.
“We’re excited to invest for the second time in a leader like Jeff Weinstein, who now has a best-in-class solution for automating the accounts payable workflow,” said Steve Socolof, Managing Partner at Tech Council Ventures. “Having worked with Jeff and his team in the past, we’ve seen firsthand their ability to execute, scale quickly, and deliver real enterprise value through innovation. We’re confident TranscendAP has the right leadership and technology to redefine AP automation for a broad range of organizations.”
For more information about TranscendAP’s accounts payable automation solutions or to schedule a demo, contact sales@transcendap.com.
About Rittenhouse Ventures
Rittenhouse Ventures is an emerging-growth venture capital firm that partners with capital-efficient B2B SaaS, AI, and tech-enabled services companies. With a strategic focus on the Mid-Atlantic region and other underserved markets, Rittenhouse invests in companies generating $2M-$10M in revenue, typically into rounds of $5M or less. The firm is dedicated to providing deep operational support and unique network access, collaborating with exceptional management teams to foster sustainable growth and market leadership.
About Tech Council Ventures
Tech Council Ventures invests in the most promising early-stage, rapid-growth technology companies in the Mid-Atlantic region. The Fund typically initially invests $500,000 to $3M, with up to $4-5M to support the company’s growth. The general partners are active investors, typically (but not always) a Board Director and lead investor.
About TranscendAP
TranscendAP, Inc. provides a flexible and scalable AI-driven accounts payable (AP) automation platform capable of supporting the most complex workflows and processes. Since 2018, enterprise organizations in healthcare, higher education, manufacturing, and other sectors have entrusted TranscendAP to manage millions of invoices and billions of dollars annually. For more information, visit www.transcendap.com.
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