Billtrust, a Hamilton, N.J.-based payment cycle management platform, raised $25m in funding.
The company intends to use the funds to expand into domestic and international markets and marketing efforts and to pursue additional acquisitions.
Founded in 2001 by Flint Lane, CEO, Billtrust integrates invoice presentment, invoice payment, and cash application to allow businesses to accelerate invoice-to-cash. In 2014, its solution processed over $250 billion in receivables for companies including Kraft Foods, Under Armour, Estes Express and CDW.
The company has made several strategic acquisitions over the past five years including Open Scan Technologies, Best Practice Systems, and Mark Altman & Associates.