March 11, 2026 | HAMILTON, NJ | A Hamilton Township software company specializing in artificial intelligence-powered financial technology has received $1.25 million in investment funding through the New Jersey Innovation Evergreen Fund.
TranscendAP, founded in 2017, develops accounts payable automation technology designed to streamline invoice processing and financial operations for organizations.
The investment includes $750,000 through an application submitted by Rittenhouse Ventures and an additional $500,000 through Tech Council Ventures.
Company officials said the funding will support the continued expansion of its cloud-based automation platform, which incorporates artificial intelligence to improve efficiency and reduce costs for businesses.
“As a New Jersey-based software company, we highly value the programs that the NJEDA has implemented that support our continued growth,” said Jeffrey Weinstein, president and CEO of TranscendAP.
Weinstein said the investment will help the company accelerate growth while expanding its presence in New Jersey.
“This investment allows us to accelerate our growth and expand our New Jersey presence with great career opportunities in technology, sales, marketing, and professional services,” he said.
TranscendAP made its accounts payable automation platform available as a cloud multitenant offering in 2022 and expanded its market reach through integrations with major software providers including Oracle, Microsoft and Ellucian.
Rittenhouse Ventures, an early-growth venture capital firm focused on business-to-business software investments, said the accounts payable automation sector is undergoing rapid transformation as companies move away from older manual systems.
“The accounts payable automation market is undergoing a crucial transformation,” said David Nevas, general partner at Rittenhouse Ventures.
The investments were made through the New Jersey Innovation Evergreen Fund, a program administered by the New Jersey Economic Development Authority that invests state capital alongside private venture firms in early-stage companies.
Officials say the initiative is designed to support innovative businesses, drive job creation and strengthen New Jersey’s technology economy.