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Company News: New funding accelerates innovation, product development and go-to-market expansion for leading enterprise revenue lifecycle management platform
BillingPlatform, the enterprise revenue lifecycle management platform for today’s innovative business models, is focused on enterprise technology and services, financial services, payments and transaction processing. The investment adds to the US$10 billion market, which is growing by more than 10% annually, as companies increasingly turn to a comprehensive portfolio of CFO office solutions that enable them to tap into new revenue streams and markets. Facilitate the continued expansion of BillingPlatform. Plan your strategy, reduce revenue leakage, and improve customer satisfaction.
FTV Capital’s investment comes as BillingPlatform has recorded significant growth, customer acquisition, industry analyst and award winning results over the past year. BillingPlatform announced new agreements with JP Morgan, CooperSurgical, Juniper Square, and Class, joining its roster of major enterprise customers including Carrier, CCC Intelligent Solutions, Cloudera, Panera, DIRECTV, GoCardless, and Vantage Towers. With 296% three-year revenue growth, BillingPlatform has been recognized as a Fastest Growing Company in Deloitte’s Technology Fast 500 for the fourth year in a row and as the No. 1 vendor in Forrester’s influential Billing and Subscription Management Report. It was evaluated. Research, MGI Research, Ventana Research.
FTV Capital implements a flexible financing approach, aligning equity investments with company management teams’ goals to accelerate growth and expansion. Since its founding in 1998, the firm has raised US$6.2 billion and invested more than US$5.2 billion in 140 portfolio companies. With this funding, FTV Capital joins Columbia Capital as a minority institutional investor in BillingPlatform. FTV Capital partners Kyle Griswold and Richard Liu will join BillingPlatform’s board of directors.
“Given our long-standing focus and expertise in the financial technology space and sub-sectors such as CFO offices, BillingPlatform has long been on our radar and we continue to be impressed by the company’s consistent growth and top-notch performance. We offer a variety of products,” Griswold said. “Businesses are hungry for cloud-based solutions, but until now automated billing software has been difficult to deploy and inflexible. As the industry seeks greater product leadership, BillingPlatform We are poised to accelerate growth and drive market leadership in both sectors.”
“In conversations with customers and industry participants, the feedback on BillingPlatform has been outstanding and reinforces the company’s strong position,” Liu added. “BillingPlatform provides a modern, highly configurable and automated approach that not only helps our customers drive significant operational efficiencies, but also enables them to manage recurring, pay-as-you-go, subscription, and and other hybrid business models.”
“In addition to FTV’s financial investments, the company adds significant value through its deep expertise and understanding of sector trends, and its extensive global partner network of more than 500 executives from 150 of the world’s largest companies.” said CEO Dennis Wall. of the billing platform. “This new partnership gives us the financial and strategic resources to continue supporting our customers, advance our ambitious growth goals, and expand our leadership as the leading enterprise revenue lifecycle management platform. I was able to.”
With customers around the world serving multiple industries such as technology, financial services, media and entertainment, logistics, and communications, BillingPlatform helps businesses manage everything from simple to advanced subscriptions. It’s the only billing and revenue management solution on the market that allows you to monetize any type of product offering. Usage-based pricing models and everything in between. BillingPlatform provides complete lifecycle support for the monetization process, from product setup, quoting, billing and billing, and revenue recognition to payment and collections, all on a secure next-generation cloud platform. The platform’s unparalleled flexibility gives businesses control to differentiate themselves in the marketplace, maximize profitability, reduce operating costs, and improve the customer experience.
“Columbia’s confidence in BillingPlatform’s market opportunity has only grown since our initial investment. The company’s clear vision, blue-chip customer base, and world-class management team have proven to be a winning formula. We are excited to partner with BillingPlatform and FTV to embark on the next chapter of this journey,” added Jason Booma, Partner at Columbia Capital.
In connection with this transaction, Stifel served as exclusive financial advisor to BillingPlatform, and DLA Piper and Kirkland & Ellis served as legal advisors to the parties. William Blair He served as exclusive financial advisor to FTV Capital.
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