Subscription billing tools may be used by companies of all sizes, from small businesses to enterprises. This type of software more than just generates invoices with various frequencies, but allows accountants to be sure that the billing process is accurate and manage revenue. On the other hand, sales departments may also use these tools to identify best-selling products and adapt the company’s offering to the market.
In this publication, we’ve gathered information about the PayTech companies specialized in the subscription billing software. The list is based on the Customer Success Report. The options are sorted by investments.
| Company Name | General Information | Total Raised | Number of Rounds | Investors |
Stripe
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Stripe is a developer-oriented commerce company helping small and large companies accept web and mobile payments. The Stripe Billing API is easy to integrate with existing websites, mobile apps, and CRM systems. It’s a fast way to bill customers with subscriptions or invoices. Capture more revenue, support new products or business models, and accept recurring payments globally. | $1.6B | 12 rounds. Their latest funding was raised on Apr 16, 2020 | GV,
General Catalyst, Andreessen Horowitz, Sequoia Capital, Tiger Global Management, DST Global |
SAP
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SAP is a technology company that develops enterprise application software for companies and industries across diverse sectors. Enhance the payment experience with innovative subscription-based billing, revenue, and accounts receivables management of SAP. | $1.3B | 2 rounds. Their latest funding was raised on Apr 24, 2019 | Elliott Management Corp.,
EASME – EU Executive Agency for SMEs |
Sage Intacct
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Sage Intacct provides subscription billing software that streamlines contract and subscription billing lifecycles and adapts to business needs for easier and smarter payment management. | $215.8M | 12 funding rounds.
The latest funding was raised on May 4, 2016 |
Silicon Valley Bank,
Battery Ventures, Sigma Partners, Split Rock Partners, Bessemer Venture Partners, Sutter Hill Ventures, Emergence |
Aria Systems
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Aria Systems provides a cloud-based monetization platform that removes billing bottlenecks to allow companies to quickly launch and evolve their offerings. | $180.3M | 7 rounds.
The latest funding was raised on Dec 11, 2018 |
Runway Growth Capital,
HWVP, Hummer Winblad Venture Partners, Madison Bay Capital Partners, Bain Capital Ventures, InterWest Partners, Venrock |
NetSuite
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NetSuite’s unified billing framework supports transaction, subscription, usage-based and any hybrid model thereof, all while managing revenue accurately and in accordance with the latest revenue recognition standards. | $157.8M | 8 rounds.
The latest funding was raised on Feb 5, 2007 |
Meritech Capital Partners,
Tako Ventures, StarVest Partners |
PaySimple
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PaySimple’s recurring billing software saves time and increases cash flow by collecting payment information one time and setting up recurring billing schedules for online, in-person, or mobile payments. | $145.3M | 5 rounds. The latest funding was raised on Sep 20, 2016 | Providence Strategic Growth,
Susquehanna Growth Equity |
GoCardless
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GoCardless provides a recurring payment solution that allows small businesses and enterprises to collect international payments reducing barriers, costs, and churns. | $122.3M | 7 rounds. The latest funding was raised on Feb 18, 2019 | Salesforce Ventures,
GV, Adams Street Partners, Accel, Notion, Future Fifty, Balderton Capital, Passion Capital, Y Combinator, Start Fund, SV Angel |
2Checkout
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2Checkout’s recurring revenue tool helps businesses manage subscriptions and customers, deal with invoices and billing, and improve their recurring revenue. | $72M | 2 rounds. The latest funding was raised on Sep 15, 2015 | Chicago Growth Partners,
Trident Capital, Trinity Capital Investment |
Braintreehttp://www.braintreepayments.com
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Braintree provides recurring billing software that allows easy acceptance of repeat online payments for software, subscription-based businesses, donations, and more. | $69M | 2 rounds. Their latest funding was raised on Sep 17, 2012 | New Enterprise Associates (NEA),
Accel, Greycroft, RRE Ventures |
Pipe
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Pipe’s software can seamlessly integrate with clients’ platforms to qualify and underwrite their business, automatically track their paid subscriptions and generate offers for their full annual value. | $66M | 3 rounds. The latest funding was raised on Jun 24, 2020 | Fin Venture Capital,
Craft Ventures, KSD Capital, Anthemis Group, Tribe Capital, MaC Venture Capital, Fika Ventures, Lachy Groom |
Invoice2go
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Invoice2go provides their clients with the recurring invoices tool that gives them a smarter, easier way to invoice repeat customers. | $60M | 4 rounds. The latest funding was raised on Sep 11, 2018 | OCV,
Ribbit Capital, Accel |
Even Responsible Finance
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Even.com is a financial service company that allows users to get paid on demand, budget instantly, and save automatically. | $55M | 5 rounds. The latest funding was raised on June 18, 2020 | Valar Ventures,
Marc Benioff, Founders Fund, PayPal Ventures, Silicon Valley Bank, Harrison Metal, Allen & Company LLC, Socii Capital, Khosla Ventures |
Digital River
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Digital River’s commerce, payments and marketing solutions facilitate commerce transactions, drive traffic to online stores, and enable increased conversion rates and sales through the offering of local payment methods and subscription management. | $50M | 3 rounds. The latest funding was raised on February 20, 2020 | IVP,
Siris Capital Group, Earlybird Venture Capital |
goTransverse
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The TRACT® platform supports the monetization of any combination of one-time, subscription, and usage-based offerings with near real-time metering, rating and native revenue recognition. The result is top-line revenue growth, faster time-to-market, visibility into revenue streams and operational savings. | $47M | 2 rounds. Their latest funding was raised on Oct 30, 2014 | H. Siedentopf |
Chargebee
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Chargebee is a PCI Level 1 certified subscription and recurring billing system for SaaS and subscription based eCommerce businesses. Chargebee is built with a focus on delivering the best experience to provide a seamless & flexible recurring billing experience to customers & manage customer subscriptions. | $38.2M
|
5 rounds. Their latest funding was raised on Aug 28, 2019 | Accel,
Steadview Capital, Insight Partners, Tiger Global management |
Vindicia
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Vindicia CashBox is a SaaS billing, marketing, CRM & analytics solution for creating, managing, tracking and optimizing recurring and one-time payments, campaigns, promotions and coupons, affiliate and parent-child accounts, fifo, tokens and microtransations, and that helps merchants maximize revenue through increased customer acquisition and retention. | $37.6M | 5 rounds. Their latest funding was raised on Nov 1, 2010 | DCM Ventures,
FTV Capital, BDMI, ONSET Ventures, Leader Ventures |
Paddle
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Paddle unifies payments, subscription and billing management, manual invoicing, sales tax and financial compliance, fraud, and more with an All-in-One SaaS Commerce platform that grows with you. | $25.3M | 7 rounds. Their latest funding was raised on Nov 5, 2018 | Kindred Capital,
Business Growth Fund, Notion, Future Fifty, MacPaw, Upscale |
Papaya
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Papaya is a developer of an online mobile bill payment application that offers multiple payment methods including debit and credit cards or directly from bank accounts, where personal information and payment data are encrypted and processed via HIPAA and PCI compliant methods, enabling users to pay bills faster and in a secure hassle-free method. | $25.1M | 4 rounds. Their latest funding was raised on Mar 14, 2020 | Sequoia Capital,
F-Prime Capital, Acrew Capital, Fika Ventures, SVB Financial Group, First Round Capital, Clocktower Technology Ventures, Mount Wilson Ventures, Mucker Capital |
PatientPay
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PatientPay recognized that there were simpler ways for patients to pay their bills and for physicians to collect them. It saw that what was commonplace at retail and in e-commerce hadn’t been done for the healthcare industry and those it served. | $18.6M | 5 rounds. Their latest funding was raised on Mar 31, 2020 | Mosaik Partners,
Espring Family Foundation, Teaghlach Family Office |
SaaSOptics
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SaaSOptics is a complete B2B subscription management platform that delivers subscription invoicing and payments, GAAP revenue recognition, subscription management and robust subscription metrics and analytics. It enables early stage to enterprise B2B subscription businesses the ability to eliminate their dependency on spreadsheets and streamline their financial operations, reporting and performance metrics. | $18.4M | 5 rounds. Their latest funding was raised on Oct 2, 2019 | Silicon Valley Bank,
Fulcrum Equity Partners, Thomas E. Noonan, Service Provider Capital, Techstars Ventures, Duke Angel Network |
Ordway
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Ordway is a smart billing and revenue automation platform for growing businesses. It simplifies managing recurring subscriptions, contract details, pricing transactions, invoicing customers, collecting payments, and recognizing revenue. | $12.5M | 2 rounds. Their latest funding was raised on Feb 19, 2020 | CRV,
Clocktower Technology Ventures, Revolution, Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, Middleland Capital, Social Starts, Founder Collective |
Fusebill
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Fusebill simplifies subscription and billing management by automating many manual accounting and financial processes and workflows. Our cloud-based platform gives companies the freedom to grow their businesses, the flexibility to capitalize on new product opportunities, and the agility to maintain a competitive edge. | $10.3M | 4 rounds. Their latest funding was raised on Sep 12, 2016 | OMERS Ventures,
BDC Ventures Capital, Langdell Investments, ScaleUp Ventures, Covington Fund |
Finovera Inc.
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Finovera offers a digital file cabinet for users to receive, organize, and manage their bills, accounts, and documents in one secure place. | $7.5M | 2 rounds. Their latest funding was raised on Jan 9, 2017 | – |
BillGO
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The way bill payments are processed hasn’t changed for decades. And, as a result, it still takes payments 2-3 business days for payments to clear the bank. It’s difficult to keep customers engaged when paying their bills, as there’s no hook to keep them coming back.
BillGO is changing the status quo with a bill payments engine that offers real-time payments, efficient routing, and security to our customers. |
$7.5M | 2 rounds. Their latest funding was raised on Oct 2, 2018 | – |
Roger
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Roger.ai gives users the time back by getting all the boring daily financial work done via automated workflows for things like bill pay, approvals, compliance, and expenses. Users can pay any bill or invoice in a second or less, cut time spent on managing accounts payable, paying bills, and worrying about it. It has a powerful approval flow and a full AP automation with accounting system integrations. | $7.4M | 3 rounds. Their latest funding was raised on May 29, 2019 | Dan Wernikoff,
9Yards Capital, QED Investors, BootstrapLabs, Financial Venture Studio, Musaab Hakami |
RecVue
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Traditional billing and invoicing do not work for the subscription-based economy. The competitive advantage is flexible, recurring billing and subscription-based billing. Customers know that companies have the capabilities to offer flexible pricing models, creative product offerings, and a variety of billing terms and options. | $7M
|
2 rounds. Their latest funding was raised on Jan 16, 2019 | Long Light Capital,
Cota Capital, EPIC Ventures |
OnPay
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OnPay is a software company that offers small businesses and accountants the best payroll in the cloud, backed up by a team of helpful, friendly experts. | $6M | 1 round. This was a Series A round raised on Jan 13, 2020 | – |
DAVO Technologies
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DAVO was created to solve the pain points in the payor/payee relationship; optimizing any recurring payment cycle, compressing time. DAVO’s patented process automatically impounds the total sales tax collected daily, and files and pays when due. No need to worry about late or incorrect filing or paying penalties ever again. DAVO is integrated with multiple cloud based Point of Sale (POS) platforms such as Clover, Square, Revel, Poynt and QuickBooks Online. The entire process is seamless and automatic, eliminating the risk of missed, short or late payments. | $5M | 6 rounds. Their latest funding was raised on Oct 1, 2018 | SixThirty,
Maine Technology Institute, Anania & Associates Investment Company
|
Accrualify
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Accrualify’s products enable more efficient and automated management of purchase orders, accruals, invoices, payments, vendor management, and budgeting. Their mission is to leverage artificial intelligence (AI) and machine learning to address the many pain points corporate finance organizations face on a daily basis. | $3.8M | 2 rounds. Their latest funding was raised on Sep 12, 2018 | Scott Lee,
SWAN Venture Fund, Aligned Partners |
Prism
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Prism is a mobile application that enables its users to review, manage, and pay their bills. The application connects its users directly with their billers to facilitate automatic notifications when new bills are found as well as to schedule payments using their credit and debit cards, and bank accounts. Prism also offers a dashboard enabling users to check and manage their account balances in order to make educated financial decisions. | $3.4M | 5 rounds. Their latest funding was raised on Jun 11, 2015 | Financial Solutions Lab,
John Keister, Chase Franklin, Founders’ Co-op, Microsoft Accelerator, Techstars, Microsoft for Startups |
Sources
The information used in this article was taken from open sources such as Crunchbase, LinkedIn, Wikipedia, Pitchbook, and the official websites of companies mentioned. Moderate inconsistencies may be present in the text above.
