BillingPlatform, an Englewood, Colorado-based provider of cloud-based quote-to-cash solutions, raised $18m in funding.
The company has secured an initial $4m commitment from Columbia Capital with the firm planning to invest an additional $14m. In conjunction with the funding, Jason Booma, Partner at Columbia Capital, joined BillingPlatform’s Board of Directors.
The money will be used on sales and marketing, product development and support for BillingPlatform’s global customer base.
Led by newly named CEO Dennis Wall, who joined the company in January 2017 as its chief revenue officer, BillingPlatform provides a cloud-based platform that supports quote-to-cash and related processes, such as billing and revenue recognition. It offers a native metering and rating engine that enables complex business models, and integrates with CRM, ERP and other core systems.
Co-founders Nathan Shinn and Leonid Solomonik have been named Chief Strategy Officer and CTO, respectively.