DadeSystems, a Miami, Fla.-based provider of account receivable automation solutions, secured $2m in funding.
Backers included Ocean Azul Partners, a venture capital fund based in Miami, Florida.
The company intends to use the funds to accelerate engineering and product enhancement efforts, expand the sales team, digital marketing and client services.
Led by CEO Bill Zayas, DadeSystems provides a SaaS based enterprise platform that includes the following tools:
– DadePay AR Automation, which automatically captures all incoming payments, including cash, checks, ACH, EFT, and credit cards. Using patented technologies, payments are automatically matched to open invoices and update the companies’ ERP systems. All checks received are electronically transmitted to the bank for immediate deposit.
– ePayment customer portal and fully integrated mobile application which allow companies to send notifications and alert customers when payments are due. DadePay portal payments accommodate both ACH and credit card and are matched to corresponding invoices. DadePay Mobile allows sales and delivery drivers to capture images of checks and remittances and electronically transmit them to AR Automation for immediate processing.
The company serves multiple industries including distribution, food and beverage, manufacturing, financial, transportation, wholesale, property management, healthcare, retail, travel and agriculture.