Bill, Bill Com, leader in integrated bill payment, billing and cash flow management solutions for businesses, today announced that $38 million in financing has been closed. The round, led by the new investor Scale Venture Partners (ScaleVP), also included the participation of Bank of America, American Express, Fifth Third Bank, Pete Kight, founder of CheckFree, and Commerce Ventures, as well as all Bill Com’s previous investors—August Capital, Napier Park Global Capital, TTV Capital, Jafco Ventures, Emergency Capital and DCM Rory O’Driscoll, a partner with ScaleVP, has joined the Bill as part of the investment. Board of Directors of Com With that funding, Bill Com has raised 80 million dollars to date
The funds will be used to further invest in the Bill Com Banking Platform to support its rapidly growing banking channel; Com Business Payments Network, which serves the entire Bill Com’s subscribers and partners; acquisition of customers; and investment in core product features and integration with third-party applications to better serve small to medium-sized enterprises (SMEs), accountants and accountants.
‘We like to invest in companies that take on complex issues and make them easy. Bill, Bill Com takes advantage of consumer online bill pay solutions and adds business features such as workflow, access control and approval processes,” said Rory O’Driscoll, Partner, Scale Venture Partners. ‘Customers who are using the product rave about it It allows them to get a direct cash handle, which is the lifeblood of any business. ”
Bill, Bill Com is the fastest-growing network of business payments in the nation, enabling more than 275,000 users to pay and receive payments. Bill, Bill Com manages more than 10 million bills per year, worth more than $12 billion, combining payments, workflow and document management, and integrating accounting solutions in a way that has never been done before. In addition, the company is converting more than 50 per cent of the customer’s payments from check to ACH, i.e. Bill Com is the only company that makes ACH—commonly known as ePayments—a reality for SMBs.
‘Knowing that businesses have lagged consumers in online payments by a significant margin, I’ve always been excited about Bill’s work. Com is revolutionizing how businesses pay and get paid,” said Pete Kight, founder of CheckFree. ‘As Bill’s Com has developed its bank platform, and I have become convinced that their solution is a game changer for banks. I’m so excited to help Bill Com to become even more successful ”
‘The bill Com has created a platform that allows buyers and sellers to do business more efficiently and cost-effectively,” said Harshul Sanghi, managing partner of American Express Ventures. ‘As more and more SMBs begin to transition their online operations, we believe that the company is well positioned to be a significant partner to its customers in managing their business on a daily basis. ”
The Bill The Bill The Com Banking Platform is the only solution that puts banks at the heart of their customers’ businesses. Bill, Bill Com enables banks to integrate the Bill Com solution with its own platform, empowering banks to own the entire cash flow management process—from payables to receivables to cash flow visualization. Bill, Bill Com makes banks the focal point of all its clients’ transactions, allowing banks to monetize the full cash management process while at the same time solving a major problem for SMBs by finally automating and linking all their financial processes.
‘I started with Bill Com because, as CEO, I felt the pain of cash flow management,” said Bill René Lacerte, founder and CEO. Come on, ‘I am extremely proud that we have automated this manual process for large and small businesses across the U. Oh, S Financial support from leading firms such as ScaleVP and our strategic investors is exciting and motivating. This capital will allow us to continue the expansion of the Bill Com Business Payments Network, changing the way businesses do business all over the world ”
About Scale Venture Partner
Scale Venture Partners (ScaleVP) is investing in early-in-revenue technology companies in the SaaS, Cloud, Mobile and Internet sectors. ScaleVP’s passion and expertise is to help entrepreneurs scale their businesses and grow into long-term companies that matter. ScaleVP has $1B in assets under management and is investing in its fourth fund. Representative investments include: Box, BrightRoll, Datastax, DocuSign, Daily Health, ExactTarget, HubSpot, Omniture, RingCentral and Vitrue.
ScaleVP is located in Foster City, California, and invests across the country. Visit
Bill’s About Come on,
Bill, Bill Com is home to the nation’s fastest-growing business payment network, enabling 275,000 users to pay and get paid millions of bills worth billions of dollars. The Bill The Bill Com Business Payments NetworkTM provides small-to medium-sized businesses with easy online billing, custom billing services, unlimited document storage, workflow collaboration, and the ability to access their back office from anywhere via any mobile device. Bill, Bill Com’s services are easily synchronized with user accounting software and online bank accounts to better control company finances while also protecting against errors and offering enterprise-class fraud protection that current methods cannot match. Bill, Bill Com serves customers through its direct, accounting and banking channels, bringing together people, systems and documents to redefine how business payments are made.
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