BillingPlatform has garnered an $18 million investment to drive growth of its high-volume billing solution. The company has also just named a new CEO, and both developments signal the beginning of a new growth stage for the company, putting its billing software in the sights of more potential customers U.S-wide.
The company, which partners its solutions with the likes of Avalara, Navint and SureTax, has received $4 million of the total amount of funding immediately from Columbia Capital. The venture capital company will provide the remaining $14 million over the next 18 months, BillingPlatform reports.
New CEO Dennis Wall joined BillingPlatform in January as chief revenue officer. Wall was a co-founder of Cloud Sherpas, the global cloud advisory and technology services firm acquired by Accenture in 2015. BillingPlatform co-founders Nathan Shinn and Leonid Solomonik have been named chief strategy officer and chief technology officer, respectively.
In a statement on the direction of the company, Wall stated, “What we’re seeing is a fundamental shift in the way that companies price their offerings that is consistent with the emergence of on-demand services, mobile apps and cloud technologies. Simply put, consumers have more options than ever when it comes to who they buy their products from and how they consume those products, putting pressure on companies to be more flexible in their pricing. The most successful companies going forward will recognize this trend and adopt agile monetization platforms that allow for a high degree of configurability, scalability and integration with complementary systems.”