BillingPlatform, an agile monetization company, received an initial $4 million from the funding commitment made by Columbia Capital. Investment comes at a time of rapid growth for BillingPlatform and widespread interest in agile monetization between companies and emerging companies. The money will be used for sales and marketing, product development and support of BillingPlatform’s global customer base. Columbia plans to invest an additional $14 million to BillingPlatform over the next 18 months.
In related news, BillingPlatform appointed Dennis Wall as CEO. Wall joined BillingPlatform as Chief Revenue Officer in January 2017 and helped the company build and expand its relationship with corporate clients, including PGi, Energy Australia and a major international airport. Wall was a co-founder of Cloud Sherpas, the global cloud consulting and technology services firm Accenture acquired in 2015. BillingPlatform co-founders Nathan Shinn and Leonid Solomonik have been appointed Chief Strategy Officer and CTO, respectively.
BillingPlatform launched in 2012 with a cloud-based platform that supports quota-to-cash and related processes, such as billing and revenue recognition. Highly configurable, BillingPlatform offers a native metering and rating engine that enables unique and complex business models to be integrated with leading CRM, ERP and other core systems. BillingPlatform was recently named Strong Performer in The Forrester Wave: Recurring Customer and Billing Management, Q3 2017, Report and received perfect scores for corporate vision and product focus, ahead of products such as Apttus and Aria Systems.
Agile monetization strategies have become increasingly popular as businesses and consumers acquire non-traditional products and services. For example, Ford allows users of its GoBike service to purchase a single ride, day pass or annual membership. Netflix allows customers to choose pricing based on options such as image resolution, number of supported screens, and with or without DVDs. Uber and Lyft offer their customers a real menu of pricing options. Analysts recognize that more companies are moving towards flexible pricing strategies. MGI Research predicts that the market for agile monetization platforms will grow from $8. 9 billion to almost $36 billion in 2016. $75 billion in 2020
“What we’re seeing is a fundamental shift in the way companies price their offerings that is consistent with the emergence of on-demand services, mobile apps and cloud technologies,” Wall says. “Simply put, consumers have more options than ever when it comes to who they buy their products from and how they consume them, putting pressure on companies to be more flexible in their pricing. The most successful companies in the future will recognize this trend and adopt agile monetization platforms that allow for a high degree of configuration, scalability and integration with complementary systems. “That’s right.
“Companies are becoming more creative in the way they charge for products and services and can use monetization as a competitive weapon,” says Jason Booma, Partner at Columbia Capital, who joined the BillingPlatform Board of Directors. “In talking to business buyers, we heard a consistent message that customers are looking for a platform that could be quickly configured to handle complex use cases and high transaction volumes without long development burdens. We are confident that the BillingPlatform team will capture a significant portion of its market with its differentiated solution. “That’s right.
“Our mission,” says Wall, “is to give companies flexibility in how they monetize their products and services, and agility in how they innovate and develop their processes. Legacy billing solutions just can’t do that. As one of our largest customers said, ‘We felt that we needed to shape our monetization strategy and processes around [the legacy provider] solution, while BillingPlatform was able to shape its solution around our business. ‘This statement says everything you need to know about the direction of our market and our place in it. “That’s right.
About BillingPlattform
BillingPlatform is a leading provider of cloud-based quota-to-cash solutions. From CPQ to billing and revenue recognition, BillingPlatform’s metadata platform provides the most flexible, agile monetization solution on the market. With customers spanning vertical lines, including communications, high-tech and utilities, BillingPlatform processes millions of transactions and billions of dollars every year, enabling businesses to drive competitive differentiation by improving market time and customer experience. Visit us at www to learn more. Platform for billing Come on,
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