BillingPlatform collects $10m from Columbia Capital

BillingPlatform, a cloud-based billing software company, has bagged $10m in Series B funding from Columbia Capital.

The funds will be used to support product development, customer success programmes and go-to-market efforts.

Its product suite includes tools for account and contract management, collections and dunning, business intelligence, revenue recognition and invoicing. BillingPlatform offers a cloud-based platform to improve the billing across banking, transportation, media, energy and communication industries.

The FinTech’s clients include Amadeus, Conifer Health Solutions, NBT Bank and Valmont Industries, among others.

A study from MGI Research claims the market for monetization software tools is rapidly growing and represents a total addressable market exceeding $172bn from 2018 to 2022. Key growth drivers of this are new business models based on recurring and usage-based pricing, increased usage of IoT and the capabilities of cloud-based technology.

BillingPlatform CEO Dennis Wall said, “BillingPlatform is the first and only stop for enterprise customers who understand the pivotal role that billing plays in the customer experience.

“Whether a company is introducing new offerings – like IoT, direct-to-consumer, or sharing models – or re-imagining existing ones, we give our customers the freedom to innovate, and the security of total control. We are delighted that Columbia Capital shares our commitment to this mission.”

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