Big data powered B2B monetization solution provider RecVue recently announced the completion of a $5 Million fundraising round. This round was co-lead by Cota Capital and EPIC Ventures, and witnessed participation from Long Light Capital.
RecVue plans to utilize the funds raised through the round to build upon its early success in delivering recurring billing and revenue solutions for B2B companies. The company also plans to expand sales and marketing to increase market traction in several industries, including high tech, transportation and logistics, business services, and healthcare providers.
The capital will also allow the company to continue product innovations that increase agility in billing operations, product management and sales for its customers. RecVue’s B2B monetization solution delivers agility, flexibility and scalability to support complex, high-volume recurring revenue business models while maintaining the financial rigor for reporting and compliance. RecVue’s customers include global companies such as ACI Worldwide, American Well, Radius Payment Solutions, and World Wide Technology.
“We’ve helped multi-billion-dollar enterprises manage complex pricing models and process millions of transactions while streamlining billing and revenue operations,” said Nishant Nair, Founder, and CEO of RecVue. “RecVue is committed to helping more companies grow and achieve success with its next-generation platform as they adopt complex recurring revenue business models.”
“RecVue is well-positioned to solve challenges for B2B companies that are adopting or expanding their recurring revenue business model,” said Bobby Yazdani, Founder and Managing Partner of Cota Capital. “The company delivers a unique solution that already supports more than $6.7B of annual recurring revenue for companies globally. It’s a strong base for the management team to build upon.”
“We are excited to join the RecVue team,” said Ryan Hemingway, Director of EPIC Ventures. “Enterprises are going through a period of significant change, heavily influenced by digital transformation and the Internet of Things. RecVue will help its customers to navigate and capitalize on the opportunities that result from these trends.”