BillingPlatform Secures $90 Million Growth Equity Investment from FTV Capital
- BillingPlatform recorded significant growth, customer wins, and industry analyst and award recognition last year.
- The three-year revenue growth rate of BillingPlatform is 296%.
- FTV Capital brings a flexible funding approach and has raised $6.2 billion and invested over $5.2 billion in 140 portfolio companies.
- BillingPlatform is the only billing and revenue management solution on the market that enables enterprises to monetize any type of product offering.
- The PR does not mention any negative aspects.
Insights
The recent $90 million growth equity investment in BillingPlatform by FTV Capital signifies a strategic infusion of capital aimed at bolstering the company's position in the $10 billion enterprise revenue lifecycle management market. This market is experiencing a robust annual growth rate north of 10%, underscoring the increasing demand for cloud-based solutions that offer flexibility and automation in billing systems. BillingPlatform's impressive three-year revenue growth rate of 296% and its recognition on Deloitte's Technology Fast 500™ for four consecutive years highlights the company's robust performance and market potential.
From a financial perspective, this investment could enable BillingPlatform to scale its operations, expand its product offerings and penetrate new market segments. The involvement of established investors like FTV Capital and Columbia Capital, coupled with the addition of FTV partners to the board, suggests a vote of confidence in BillingPlatform's strategic direction and governance. Such developments can be pivotal for potential institutional investors evaluating the company's long-term growth trajectory and market competitiveness.
BillingPlatform's strategic focus on addressing the needs of the Office of the CFO with its comprehensive portfolio of solutions reflects a deep understanding of the evolving enterprise landscape. The shift towards recurring, usage-based and subscription business models, which are becoming increasingly prevalent across industries, requires sophisticated billing solutions that can handle complex monetization strategies. BillingPlatform's ability to support a wide range of pricing models positions it advantageously within the market to cater to these emerging needs.
Moreover, the company's recent customer acquisitions, including notable names such as J.P. Morgan and DIRECTV, indicate its capability to serve major enterprises and add credibility to its market proposition. The expansion of BillingPlatform's customer base is a testament to the platform's scalability and the effectiveness of its go-to-market strategies, which are critical factors that investors and stakeholders typically monitor for future performance indicators.
The investment in BillingPlatform underscores a broader industry trend towards cloud-based enterprise solutions that offer operational efficiency and revenue optimization. BillingPlatform's next-generation cloud platform, which provides full lifecycle support of the monetization process, is a significant technical differentiator. Such an end-to-end solution is highly attractive in a market where businesses seek to streamline operations and enhance customer experiences.
Furthermore, BillingPlatform's recognition by influential industry analysts suggests that its product offerings are not only competitive but also leaders in the field. The ability to monetize any product offering and support various business models, from simple subscriptions to complex usage-based pricing, is indicative of the platform's technological sophistication and flexibility. This technological edge could be instrumental in driving further innovation and maintaining BillingPlatform's market leadership amidst fierce competition in the enterprise software space.
New funding will accelerate innovation, product development and go-to-market expansion for the leading enterprise revenue lifecycle management platform
FTV Capital's investment comes as BillingPlatform recorded significant growth, customer wins, and industry analyst and award recognition last year. BillingPlatform announced new deals with J.P. Morgan, CooperSurgical, Juniper Square and Class that join its roster of major enterprise customers, such as Carrier, CCC Intelligent Solutions, Cloudera, Panera, DIRECTV, GoCardless and Vantage Towers. With a three-year revenue growth rate of
FTV Capital brings a flexible funding approach and makes equity investments that align with the objectives of company management teams to accelerate growth and expansion. Since its founding in 1998, the firm has raised
"Given our years of focus and expertise in the financial technology 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," said Griswold. "Enterprises are hungry for cloud-based solutions, but historically automated billing software has been difficult to adopt and lacked flexibility. As the industry demands greater product leadership, BillingPlatform is well poised to accelerate growth in both new and core verticals and drive market leadership."
"In our conversations with customers and industry participants, the feedback on BillingPlatform has been outstanding and reinforces the company's strong position," added Liu. "BillingPlatform delivers a modern, highly configurable and automated approach that helps customers not only drive significant operational efficiency, but also create new revenue streams – comprehensive of recurring, usage-based, subscription and other hybrid business models – that have become mission critical for 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," said Dennis Wall, CEO of BillingPlatform. "With this new partnership, we have the financial and strategic resources to continue supporting our customers, drive our ambitious growth goals and extend our leadership as the leading enterprise revenue lifecycle management platform."
With global customers serving multiple industries, including technology, financial services, media and entertainment, logistics, and communications, BillingPlatform is the only billing and revenue management solution on the market that enables enterprises to monetize any type of product offering, from simple subscriptions to sophisticated usage-based pricing models and everything in between. BillingPlatform provides full lifecycle support of the monetization process – from product setup, quoting, billing and invoicing, and revenue recognition, through to payment and collections – all on a secure, next-generation cloud platform. The unparalleled flexibility of the platform puts enterprises in control of how they differentiate in the market, maximize profitability, reduce operational costs and improve the customer experience.
"Columbia's conviction in BillingPlatform's market opportunity has only continued to grow since our initial investment. The company's clear vision, blue-chip customer base and world-class management team have proven to be a winning formula. We're excited to embark on the next chapter of this journey in partnership with BillingPlatform and FTV," added Jason Booma, partner at Columbia Capital.
In connection with the transaction, Stifel acted as financial advisor to BillingPlatform, and DLA Piper and Kirkland & Ellis served as the parties' legal advisors. William Blair acted as the exclusive financial advisor to FTV Capital.
About FTV Capital
FTV Capital is a sector-focused growth equity investment firm that has raised
About BillingPlatform, Corp.
BillingPlatform empowers businesses with innovative software solutions to optimize revenue generation through every stage of the customer lifecycle, powering growth through operational agility along with a frictionless customer experience. Our industry-leading, cloud-based platform is leveraged by global enterprises to optimize the customer journey from idea to revenue. With global customers across multiple industries, including software, finance, media, transportation, and communications, BillingPlatform processes billions of transactions and dollars every year, enabling enterprises to grow revenue, reduce costs, and improve overall customer experience. To learn more, visit billingplatform.com.
Press Contact:
Abigail Rappoport
BillingPlatform
billingplatform@threeringsinc.com
Prosek Partners on behalf of FTV Capital
Josh Hess
pro-ftvcapital@prosek.com
646-818-9291
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SOURCE BillingPlatform
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