Funding to Expand Sales and Marketing, Continue Product Innovation in High-Growth Market
RecVue, the only B2B monetization solution powered by big data, announced it has completed a $5 million round of financing, co-lead by Cota Capital and EPIC Ventures with participation from Long Light Capital. RecVue will use the capital to build upon its early success in delivering recurring billing and revenue solutions for B2B companies. RecVue 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.
Globally, enterprises are adopting business models based upon recurring revenue to enable more predictable and consistent revenue streams and to contend with competitive pressures and disruption. This business model demands continuous adjustment to product and service offerings – including frequent changes to pricing and contracts – and the ability to capture and manage much higher volumes of transactions than was previously required. As a result, enterprises require next-generation monetization solutions to remain competitive and fuel growth.
“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.”
RecVue’s B2B monetization solution delivers the agility, flexibility, and scalability to support complex, high-volume recurring revenue business models while maintaining the financial rigor for reporting and compliance. Global companies such as ACI Worldwide, American Well, Radius Payment Solutions, and World Wide Technology have adopted RecVue to reduce the time to market, optimize revenue, and boost customer satisfaction making it a critical financial platform for their businesses. RecVue currently serves customers in North America, EMEA and Asia Pacific.