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Mar 2026Leadership transition: Barrett Boston announced he was stepping down as CEO, and Shawn Lane was appointed CEO to lead the next phase of growth.
SourceAutomated Accounts Payable
Company research
Public company, workplace, funding, and market signals
Updated Jul 29, 2026
Overview
Ottimate, formerly Plate IQ, is a San Francisco-based AP automation and payments software company founded in 2014. It started in restaurants and hospitality, then expanded into retail, grocery, healthcare, construction, accounting firms, and other multi-location businesses with AI-driven invoice capture, coding, approvals, and vendor payments.
Primary product
AI-powered accounts payable automation and vendor payments platform (Ottimate / VendorPay)
Founded
2014
Headquarters
San Francisco, California, United States
Team size
200-300
Work style
Remote
Industry
Software Development
Sub-industry
Accounts payable automation and payments software
Offices
San Francisco, California, United States
Oakland, California, United States
Emeryville, California, United States
Bengaluru, Karnataka, India
Miami, Florida, United States
New York City, New York, United States
Business model
B2B SaaS
AP automation software
payments processing
vendor payments network
Funding
Stage
Series B
Total raised
$164M
Latest round
Series B · Nov 2021
Latest amount
$160M
Nov 2021 · FTV Capital
Mar 2017 · Eileses Capital
People & investors
Leadership
Chief Executive Officer
Chief Financial Officer
Chief Marketing Officer
VP of Customer Success
Don Dittmar
Chief Product Officer
Chief Payments Officer
Nicki Suarez
VP, Human Resources
Founders
Co-founder, former CEO, Board Member
Co-founder, former CTO, Board Member
Work & culture
Culture appears values-driven and execution-oriented, with public emphasis on Growth, Customer Focus, Innovation, Accountability, and Communication. The company describes itself as primarily remote/remote-friendly, with offices and regular team meetups, and its careers material emphasizes merit-based hiring and inclusive employment practices.
Work style
Remote
Compensation
Public career pages mention competitive salaries, but no public salary bands were found. Hiring posts emphasize senior engineering and ML roles, with a remote-friendly setup and offices in multiple cities.
Benefits
Competitive salaries
Medical coverage
Dental coverage
Vision coverage
401(k)
Paid time off
Remote-friendly work environment
Regular team meetups
Product & market
Pricing
Publicly, the company emphasizes demo-led enterprise/B2B selling with no published pricing; public materials suggest custom/quote-based plans with unlimited transactions and approvers in some comparisons.
Differentiators
- —Line-item invoice capture and coding
- —AI/deep-learning-driven AP automation
- —Custom approval workflows and dimensions
- —Vendor payment network with ACH, check, and virtual card
- —Overpayment, fraud, and discrepancy detection
- —Deep ERP/accounting integrations
- —Industry-specific AP workflows for multiple verticals
Technology
Python
SQL
Flask
Django
PyTorch
TensorFlow
Keras
Angular
PostgreSQL
Redis
Celery
Jenkins
Docker
Jupyter
OpenAI
Salesforce
HubSpot
Looker
Power BI
NetSuite
Customers
Restaurants
Hotels
Country clubs
Grocery retailers
Independent retail chains
Healthcare centers
Construction firms
Accounting firms
Bookkeeping firms
Senior living operators
Automotive businesses
Manufacturing businesses
Distribution businesses
Competitors
Bill.com
AvidXchange
Tipalti
Coupa
SAP Concur
Beanworks
Yooz
Airbase
Ramp
Melio
Scale & contact
Estimated revenue
$10M-$20M
Estimated monthly visits
39K
Signals & risks
Other
Dec 2023Plate IQ officially rebranded to Ottimate, indicating a major brand and market expansion shift rather than an operational shutdown or acquisition.
SourceLatest news
Ottimate · Jun 2026
Ottimate announced its first MCP integration, positioning AP data for direct use inside LLM workflows and expanding its conversational AP product direction.
Ottimate · Mar 2026
Ottimate announced Shawn Lane as CEO and Barrett Boston’s transition out of the role, signaling a leadership change tied to continued AI-product expansion.
Ottimate · Aug 2025
Ottimate launched Copilot, a conversational AP assistant that can answer AP questions, take actions, and proactively surface profitability and operational opportunities.
EIN Presswire · Jun 2025
Ottimate unveiled a proprietary OCR-free deep learning AI engine for AP, with claims around higher invoice processing speed and accuracy plus fraud and discrepancy detection.
EIN Presswire · Feb 2025
Ottimate launched DSD receiving tools for retailers, focused on reducing overpayment and improving invoice-to-receipt reconciliation.
Jobs and careers at Plate IQ
0 jobs at Plate IQ
No open positions
Check back later for new openings