Total amount raised
$1.5 Billion
Latest funding date
12/01/2024
Location
BILL has raised funds through 13 rounds, with the latest being a Post-IPO Equity round. The company is backed by 26 investors, including Barington Capital Group and Starboard Value.
Keep reading to explore the intricacies of BILL's fundraising journey and the investors backing this innovative financial operations platform.
What Is BILL?
BILL is a financial operations platform that leverages AI to automate and streamline financial processes for small and midsize businesses. The company is based in San Jose, California, and operates in various sectors including Apps, Billing, Financial Services, FinTech, and SaaS.
Founded to address the needs of SMBs, BILL has grown significantly, now employing between 1001-5000 people. The platform offers solutions for accounts payable, accounts receivable, spend and expense management, and more, aiming to enhance efficiency and reduce errors for its users.
How Much Funding Has BILL Raised?
- Round Name: Series C
- Amount Raised: USD 8,500,000
- Date: June 2010
- Lead Investors: Icon Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's financial automation software and increase market penetration.
- Round Name: Series D
- Amount Raised: USD 15,500,000
- Date: December 2011
- Lead Investors: Financial Partners Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and scale operations.
- Round Name: Series E
- Amount Raised: USD 38,000,000
- Date: November 2013
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development of new features.
- Round Name: Series F
- Amount Raised: USD 30,000,000
- Date: February 2015
- Lead Investors: Bank of America, Scale Venture Partners, Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the customer base.
- Round Name: Series G
- Amount Raised: USD 82,500,000
- Date: October 2017
- Lead Investors: JP Morgan, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and enter new markets.
- Round Name: Series H
- Amount Raised: USD 88,000,000
- Date: April 2019
- Lead Investors: Franklin Templeton
- Valuation at Round: More than USD 1 billion
- Motivation Behind the Round: To capitalize on investor interest in the small business market and expand the Payment Management Platform.
- Round Name: Post-IPO Debt
- Amount Raised: USD 1,200,000,000
- Date: December 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund strategic acquisitions and further product development.
- Round Name: Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: September 2025
- Lead Investors: Starboard Value
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational expansion.
- Round Name: Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: December 2025
- Lead Investors: Barington Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and fund new initiatives.
Total Amount Raised: USD 1,462,500,000. Current Valuation: More than USD 1 billion.
Key Investors
- Barington Capital Group
- Details: Barington Capital Group is an investment firm that focuses on value-oriented investments and active engagement with management. They are known for their strategic and operational improvements in companies.
- Investment Focus Areas: Value-oriented investments, active management, strategic improvements
- Notable Investments: Not publicly disclosed
- Starboard Value
- Details: Starboard Value is a hedge fund that specializes in investing in undervalued companies and engaging in active management. They aim to influence management and strategic direction to unlock value.
- Investment Focus Areas: Undervalued companies, active management, strategic direction
- Notable Investments: Not publicly disclosed
- Franklin Templeton
- Details: Franklin Templeton is a global investment management firm that offers a wide range of investment solutions, including equity, fixed income, alternatives, and multi-asset strategies. They have a strong presence in the financial services sector.
- Investment Focus Areas: Equity, fixed income, alternatives, multi-asset solutions
- Notable Investments: Technology, healthcare, financial services
- JP Morgan
- Details: JP Morgan is a leading global financial services firm that provides investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and private equity. They are a major player in the financial services industry.
- Investment Focus Areas: Investment banking, asset management, private equity
- Notable Investments: Technology, healthcare, financial services
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. They focus on delivering sustainable returns over the long term and have a diverse portfolio across various sectors.
- Investment Focus Areas: Financial services, telecommunications, technology, consumer & real estate, life sciences
- Notable Investments: Technology, healthcare, financial services
What's Next for BILL?
As BILL continues to automate payments for small and medium-sized businesses, the opportunity to reduce reliance on paper checks in the B2B payments market is immense. With the B2B payments market valued at over $58 trillion annually, BILL's strategic partnerships, such as the one with Mastercard, position it well to capture a significant share of this market.
Given the growing interest in fintech solutions for small businesses, BILL is likely to attract further investment. The company's ability to manage over $60 billion annually and its strategic partnerships make it an attractive target for future fundraising rounds or acquisitions by larger financial institutions.
However, challenges remain, including the dominance of paper checks in B2B payments and the inherent risks associated with small businesses. Despite these hurdles, BILL's focus on innovation and strategic partnerships will be crucial in navigating these challenges and capitalizing on the opportunities ahead.
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