Colorado-based BillingPlatform has nabbed an initial $4m in funding from Columbia Capital.
Across the next 18 months, Columbia Capital plans to inject a further $13m into BillingPlatform.
BillingPlatform is a cloud-based quote-to-cash billing platform which offerings include CPQ, billing, and revenue recognition, among others.
The platform allows users to create their own model to cater to their needs, selecting services such as metered and usage ratings, subscriptions, tiered pricing, event-based billing, rating formulas, taxation, among others.
This equity will be used to bolster sales, marketing and product development and support for its customer base.
BillingPlatform’s newly appointed CEO Dennis Wall said, “Our mission is to give companies flexibility in how they monetize their products and services, and agility in how they innovate and evolve their processes. Legacy billing solutions simply can’t do this.”
Following the deal, Columbia Capital partner Jason Booma has joined BillingPlatform’s board of directors.
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