The online billing platform, Billtrust has received $ 25 Million from Bain Capital in series B round of funding. Billtrust is an online billing company which facilitates billing through e- mails, fax or from the website. The company raised its second round of funding of $25 Million from Bain Capital, reports Dylan Tweney of Venture Beat. The company plans to increase its market share and revenue by acquiring other companies.
The company is founded by Flint Lane and is based in Hamilton, New Jersey. After the second round of funding the company is worth $30 million. Five years back, Edison Ventures funded $5 million, and since that time Billtrust is expanding its revenue.
“As the world quickly moves from paper to electronic billing, there is incredible opportunity for an enterprise-focused service provider with the right balance of technology and customer-facing methodology to be a leader in this space,” said Matt Harris, a managing partner at Bain Capital, as reported by Venture Beat. He will be joining the board of Billtrust. Billtrust is a pioneer in providing a complete paper free, digital billing service to customers with noticeable clients.
On the other hand, Bain Capital is a private investment firm which partners with other companies and startups to build their ideas into reality by funding them. Founded in 1984, the company joins hands to improve businesses and their operations.