Total amount raised
$315 Million
Latest funding date
01/01/2021
Location
Billtrust has successfully navigated 8 funding rounds, with notable backing from investors such as Capital Research and Management Company and Franklin Templeton. The company specializes in AI-powered Accounts Receivable software solutions, designed to automate the order-to-cash process and enhance cash flow.
Keep reading to explore the intricacies of Billtrust's fundraising journey and the investors backing this innovative platform.
What Is Billtrust?
Billtrust, founded in 2002, is a prominent player in the Financial Services, FinTech, Payments, and Software industries. The company is headquartered in Lawrenceville, New Jersey, and employs between 501-1000 people.
Specializing in AI-powered Accounts Receivable software solutions, Billtrust automates the order-to-cash process to enhance cash flow and reduce costs. With over 24 years of experience, the company has transformed digital finance for numerous industries, processing $1 trillion in transactions annually.
How Much Funding Has Billtrust Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2003
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Series A
- Amount Raised: USD 4,000,000
- Date: October 2006
- Lead Investors: Edison Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the product's capabilities.
- Series B
- Amount Raised: USD 25,000,000
- Date: November 2012
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: USD 7,000,000
- Date: July 2014
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product development and increase market penetration.
- Series D
- Amount Raised: USD 25,000,000
- Date: April 2015
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and support strategic acquisitions.
- Series E
- Amount Raised: USD 50,000,000
- Date: May 2017
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the Quantum Payment Cycle Management solution and grow into adjacent markets.
- Secondary Market
- Amount Raised: USD 4,000,000
- Date: January 2018
- Lead Investors: W Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Post-IPO Equity
- Amount Raised: USD 200,000,000
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and expansion post-IPO.
Total Amount Raised: USD 315,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Capital Research and Management Company
- Details: Capital Research and Management Company is a prominent investment management firm. It is known for its long-term investment strategies and extensive research capabilities.
- Investment Focus Areas: General investment management, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization. It offers a wide range of investment solutions and services to clients worldwide.
- Investment Focus Areas: Global investment management, technology, financial services.
- Notable Investments: Not publicly disclosed.
- Riverwood Capital Management
- Details: Riverwood Capital Management is a private equity firm that focuses on growth investments. It specializes in technology and process automation software.
- Investment Focus Areas: Technology, process automation, software.
- Notable Investments: Not publicly disclosed.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, Spotify, WeWork.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital division of Bain Capital. It invests in early to growth-stage companies across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
What's Next for Billtrust?
Billtrust is poised to capitalize on significant opportunities, particularly in expanding its Quantum Payment Cycle Management solution and entering adjacent markets. With a recent $50 million funding round, the company is well-positioned to broaden its global footprint and innovate within its product offerings.
Future fundraising opportunities seem promising as Billtrust continues to grow and adapt to the increasing demand for automation in accounts receivable processes. However, the company may face challenges such as integrating new acquisitions and navigating different regulatory environments in international markets.
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