DadeSystems, which provides accounts receivables with an automated payment solution, has netted $9m in its Series D.
The round was led by Napier Park Financial Partners, with participation also coming from Third Capital Holdings and Ocean Azul Partners.
DadeSystems is an integrated payment solution that automatically captures all incoming payments and matches these with open invoices.
With the capital, the company will enhance its product suite to help businesses improve the analysis and reconciliation of remittances for any payment type.
Napier Park partner Ned May said, “Accounts receivable and invoice-to-cash processes are ripe for innovation. We are impressed with the quality of the solution that DadeSystems has built, the feedback we have heard from their long-standing, blue-chip clients and partners, and the recognition they’ve received from reputable research firms, Celent and Aite.”
As part of the deal, Napier Park partners Ned May and Daniel Kittredge will join the company’s board of directors.
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