# Ottimate

> Ottimate (formerly Plate IQ) is an AI-powered accounts payable automation platform that captures, codes, verifies, and pays invoices end-to-end. Founded in 2014 to fix the back-office mess inside restaurants, it now serves CFOs and AP teams across hospitality, healthcare, construction, retail, and grocery.

- **Founded:** 2014
- **Headquarters:** San Francisco, California, United States
- **Founders:** Shishir Deliwala (Co-founder, former CEO), Bhavuk Kaul (Co-founder), Ram Jayaraman (Co-founder)
- **Team size:** ~270
- **Products:** Invoice Automation, Approval Workflows, VendorPay, Invoice Verification & Fraud Detection, ERP & Accounting Integrations
- **Notable:** Rebranded from Plate IQ to Ottimate in December 2023, Raised $160M Series B led by FTV Capital (Nov 2021), Ranked #1 AP Automation Software for Construction (2024)

## Products & services

- **Invoice Automation** — AI + OCR captures invoices, extracts line items, and codes each one to the right GL account.
- **Approval Workflows** — Customizable, multi-step approval routing with mobile access and real-time alerts.
- **VendorPay** — Payment network supporting vCard, ACH, and check with cashback and fraud controls.
- **Invoice Verification & Fraud Detection** — Three-way matching, discrepancy alerts, and anomaly detection on every invoice.
- **ERP & Accounting Integrations** — Connectors to QuickBooks, Xero, Oracle, Acumatica, Sage Intacct, and many more.

## Achievements

- Rebranded from Plate IQ to Ottimate in December 2023
- Raised $160M Series B led by FTV Capital (Nov 2021)
- Ranked #1 AP Automation Software for Construction (2024)
- Recognized as a G2 Leader in AP Automation across multiple quarters
- Processes millions of invoices annually with line-item AI

## Latest updates

- **2025-06** — Launched a new AI engine dedicated to AP - faster extraction, higher accuracy on line items.
- **2024-09** — Named G2 Leader for AP Automation.
- **2024-01** — Launched #1 AP Automation Software for Construction.
- **2023-12** — Plate IQ officially rebranded as Ottimate.

## Links

- Website: https://ottimate.com
- LinkedIn: https://www.linkedin.com/company/ottimate
- YouTube: https://www.youtube.com/@ottimate

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Profile page: https://yespress.io/ottimate
Published by YesPress — https://yespress.io
Last updated: 2026-05-23