BillingPlatform, the enterprise income lifecycle administration platform for at this time’s revolutionary enterprise fashions, introduced a $90 million progress fairness funding from FTV Capital, a sector-focused progress fairness investor with greater than 25 years of expertise in enterprise know-how and companies, monetary companies, and funds and transaction processing.
The capital from the funding spherical “will gasoline BillingPlatform’s continued growth in a $10 billion market that’s rising greater than 10% per yr as enterprises more and more flip to the corporate’s complete portfolio of options for the Workplace of the CFO that allow new income streams and go-to-market methods, cut back income leakage and enhance buyer satisfaction.”
FTV Capital’s funding comes as BillingPlatform reportedly “recorded vital progress, buyer wins, and trade analyst and award recognition final yr. BillingPlatform introduced new offers with J.P. Morgan, CooperSurgical, Juniper Sq. and Class that be part of its roster of main enterprise clients, reminiscent of Provider, CCC Clever Options, Cloudera, Panera, DIRECTV, GoCardless and Vantage Towers.”
FTV Capital brings a versatile funding method and “makes fairness investments that align with the goals of firm administration groups to speed up progress and growth. Since its founding in 1998, the agency has raised $6.2 billion and invested over $5.2 billion in 140 portfolio firms.”
With this funding, FTV Capital joins Columbia Capital as institutional buyers “with minority investments in BillingPlatform. Kyle Griswold and Richard Liu, companions at FTV Capital, will be part of BillingPlatform’s board of administrators.”
Griswold mentioned:
“Given our years of focus and experience within the monetary know-how sector and in subsectors just like the Workplace of the CFO, BillingPlatform has been on our radar for a very long time, and we’ve continued to be impressed by the corporate’s constant progress and best-of-breed product providing. Enterprises are hungry for cloud-based options, however traditionally automated billing software program has been troublesome to undertake and lacked flexibility. Because the trade calls for higher product management, BillingPlatform is properly poised to speed up progress in each new and core verticals and drive market management.”
Liu added:
“In our conversations with clients and trade members, the suggestions on BillingPlatform has been excellent and reinforces the corporate’s robust place. BillingPlatform delivers a contemporary, extremely configurable and automatic method that helps clients not solely drive vital operational effectivity, but additionally create new income streams – complete of recurring, usage-based, subscription and different hybrid enterprise fashions – which have develop into mission important for companies.”
With international clients serving a number of industries, together with know-how, monetary companies, media and leisure, logistics, and communications, BillingPlatform is the one billing and income administration answer in the marketplace that “permits enterprises to monetize any sort of product providing, from easy subscriptions to classy usage-based pricing fashions and all the things in between.”
BillingPlatform offers full lifecycle help of “the monetization course of – from product setup, quoting, billing and invoicing, and income recognition, by way of to fee and collections – all on a safe, next-generation cloud platform.”
The flexibleness of the platform places enterprises accountable for “how they differentiate out there, maximize profitability, cut back operational prices and enhance the shopper expertise.”
