Billtrust

About

Billtrust develops a payment cycle management platform designed to automate every step in the invoice-to-cash process.

Lawrenceville,New Jersey,United States
501 - 1000
https://billtrust.com

Highlights

Details

Last Funding Type: Series C
Last Funding Money Raised: $7M
Industries: Financial Services,FinTech,Payments,Software
Founded date: Jan 1, 2001
Number Of Employee: 501 - 1000
Operating Status: Active
Stock Symbol: nasdaq:BTRS
Legal Name: Factor Systems, Inc.
Also Known As: Factor Systems

Billtrust is a provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable (AR) is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper-based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application and collections. Billtrust's solutions integrate with a number of ecosystem players, including financial institutions, enterprise resource planning (ERP) systems, and accounts payable (AP) software platforms, to help customers recognize revenue more quickly and efficiently. Customers use Billtrust's platform to transition from expensive paper invoicing and check acceptance to efficient electronic billing and payments, which accelerates revenue capture, generates cost savings, and provides a better user experience.

Funding Rounds

Number of Funding Rounds

Total Funding Amount

9

$315M

Billtrust has raised a total of $315M in funding over 2 rounds. Their latest funding was raised on Jan 13, 2021 from a Post-IPO Equity round.

Announced Date	Round	Money Raised	Number of Investors	Lead Investors	Post Valuation
Jan 13, 2021	Post-IPO Equity	$200M	4	—	—	Detail
Jan 13, 2021	IPO	—	—	—	—	Detail
Jan 1, 2018	Secondary Market	$4M	1	W Capital Partners	—	Detail
May 25, 2017	Series E	$50M	2	Riverwood Capital	—	Detail
Apr 15, 2015	Series D	$25M	2	Goldman Sachs	—	Detail

Investors

Number of Lead Investors

Number of Investors

6

10

Billtrust is funded by 10 investors. W Capital Partners and Riverwood Capital are the most recent investors.

Investor Name	Lead Investor	Funding Round
W Capital Partners	Yes	Secondary Market
Riverwood Capital	Yes	Series E
Goldman Sachs	Yes	Series D
Edison Partners	Yes	Series A
Capital Research and Management Company	—	Post-IPO Equity
Fidelity Management and Research Company	—	Post-IPO Equity
Franklin Templeton Investments	—	Post-IPO Equity
Wellington Management	—	Post-IPO Equity
Bain Capital Ventures	—	Series E
New York Angels	—	Seed

Employee Profiles

Number of Employee Profiles

33

Billtrust has 33 current employee profiles, including Executive Andrew Herning

Executive

Executive

Executive

Executive

Board observer

Acquisition

Billtrust has acquired 9 organizations. Their most recent acquisition was Invoice Connection on Sep 8, 2011. They acquired Invoice Connection for 0.

Date Company Name	Industry	Acquisition Type	Price
Sep 8, 2011 Invoice Connection	Financial Services	acquisition	—	Detail
Jan 17, 2012 Mark Altman & Associates (MA&A)	Government	acquisition	—	Detail
Jan 10, 2013 Best Practice Systems		acquisition	—	Detail
Jul 17, 2014 Open Scan Technologies	Enterprise Software	acquisition	—	Detail
Feb 25, 2016 C-TABS	Information Technology	acquisition	—	Detail