BillingPlatform, an enterprise revenue lifecycle management platform that supports innovative business models, has secured $90 in investment.
The investment comes from FTV Capital, a growth equity investor with a distinguished 25-year history in enterprise technology, financial services, and payment processing.
The capital injection is poised to catalyse BillingPlatform’s expansion in a burgeoning $10bn market. With an annual growth rate exceeding 10%, the company is a beacon for enterprises eager to harness its comprehensive suite of solutions. These solutions, designed for the Office of the CFO, are pivotal in unlocking new revenue streams, fortifying go-to-market strategies, curtailing revenue leakage, and amplifying customer satisfaction.
FTV Capital’s commitment is a testament to BillingPlatform’s impressive trajectory, underscored by significant growth, notable customer acquisitions, and laudation from industry analysts and awarding bodies. The platform’s burgeoning enterprise clientele includes juggernauts like Carrier, CCC Intelligent Solutions, Cloudera, Panera, DIRECTV, GoCardless, and Vantage Towers.
BillingPlatform’s remarkable three-year revenue growth rate of 296% hasn’t gone unnoticed, earning it a spot on Deloitte’s Technology Fast 500™ for the fourth consecutive year and top rankings in influential billing and subscription management reports from Forrester Research, MGI Research, and Ventana Research.
The investment strategy of FTV Capital, known for its flexibility and alignment with management objectives, is designed to fuel accelerated growth and expansion. Since its inception in 1998, the firm has raised a whopping $6.2bn and channeled over $5.2bn into 140 portfolio companies. BillingPlatform now joins Columbia Capital in FTV’s portfolio of companies with minority investments. The partnership is further solidified with Kyle Griswold and Richard Liu, partners at FTV Capital, joining BillingPlatform’s board of directors.
BillingPlatform CEO Dennis Wall said, “Given our years of focus and expertise in the FinTech sector and in subsectors like the Office of the CFO, BillingPlatform has been on our radar for a long time, and we’ve continued to be impressed by the company’s consistent growth and best-of-breed product offering.” He highlighted the company’s position at the forefront of the industry, primed for accelerated growth across both new and core verticals, and its commitment to maintaining market leadership.
Wall also emphasised the comprehensive, highly configurable, and automated nature of BillingPlatform. The solution not only drives operational efficiency but also empowers customers to forge new revenue streams – a mix of recurring, usage-based, subscription, and other hybrid business models – now deemed crucial for modern businesses.
“In addition to FTV’s financial investment, the firm adds tremendous value through its deep domain expertise and understanding of sector trends as well as its extensive Global Partner Network of more than 500 executives at 150 of the world’s leading enterprises,” Wall continued. He expressed confidence in the partnership, underscoring the strategic and financial resources now at their disposal to support customers, propel growth, and cement BillingPlatform’s status as the premier enterprise revenue lifecycle management platform.
BillingPlatform’s distinction lies in its unique offering – the only billing and revenue management solution that empowers enterprises to monetize any product offering. With its unparalleled flexibility, enterprises can navigate everything from simple subscriptions to intricate usage-based pricing models.
The platform delivers full lifecycle support of the monetization process, encompassing product setup, quoting, billing and invoicing, revenue recognition, payment, and collections, all underpinned by a secure, cutting-edge cloud infrastructure. This versatility positions enterprises to stand out in the market, optimize profitability, trim operational costs, and elevate the customer experience.
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