PALO ALTO, Calif., Jan. 16, 2019 /PRNewswire/ -- RecVue, the only B2B monetization solution powered by big data, today 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.
Founded in 2015, RecVue delivers the only monetization solution built on a big data platform and designed specifically to address the unique challenges of B2B enterprises based on recurring revenue business models. These enterprises need an industrial-grade monetization solution to manage millions of transactions and a very high degree of complexity. RecVue solution includes data mediation tuned to support high volumes of transactions, a 360 view into the entire contract lifecycle, attribute-based pricing, complete billing-to-invoice capabilities, partner management, and robust analytics and reporting. RecVue customers have decreased revenue leakage, cut the bill-to-invoice cycle by up to 61% and streamlined Days Sales Outstanding (DSO) by more than 40%. For more information, visit http://www.recvue.com
About Cota Capital
Cota Capital is an investment firm focused on modern software technology companies. Cota Capital invests in companies from early seed stage to public and partners with world class teams building disruptive businesses of the future. For more information, visit http://www.cotacapital.com
About EPIC Ventures
EPIC Ventures is a premier venture capital firm focused on emerging startup ecosystems. EPIC backs early stage technology companies disrupting industry incumbents and is positioned to lead the information economy of tomorrow. For more information, please visit www.EPICvc.com.
About Long Light Capital
Long Light Capital, LLC is a New York City based single family investment firm. Long Light Capital invests in public and private markets across many industries with a focus on high quality business models. In select circumstances the firm will partner with external managers to provide expertise in specific areas.
SOURCE RecVue, Inc.