Apptus receives another batch of funding

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fintech insurtech wealthtech regtech ai cybertech esg news

Quote-to-cash platform Apptus has received a $75m growth financing investment from Golub Capital.

US-based Apptus is an AI-powered quote-to-cash and contract lifecycle management company that automates and optimises revenue processes. The quote-to-cash process connects a customer’s intent to buy, spanning across sales, contract and customer relationship lifecycles.

The solution helps businesses to keep compliant with necessary regulations through its onboarding capabilities.

Apttus CFO Terry Schmid said, “partnering with Golub Capital provides us with scalable, flexible debt solutions that are uniquely structured for companies of our size. Golub Capital has a proven track record of supporting SaaS companies, and we are looking forward to what this partnership will bring in 2018 and beyond.”

This investment is the company’s second of the year, with IBM making an undisclosed extension to the Apptus’ Series E. The company closed its initial Series E funding on $55m last year. Total funding in to Apptus has reached up to $400m.

Late last year, Apptus hired a range of new staff, including former-Imperva CFO Terry Schmid as its new chief financial officer. Other hiring’s saw former-Cisco Systems EVP and CMO Sue Bostrom and Veeva Systems CFO Tim Cabral added its board of directors.

The data and analytics sector was dominated by the North American region last year, in terms of funding. There was over four-times more capital deployed to FinTechs in North America, than the other regions combined capital.

Copyright © 2018 FinTech Global

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