RightRev Raises $5M in Funding

RightRev, a Santa Clara, Calif.-based, cloud-powered finance and accounting solutions provider for Revenue Recognition Automation, raised $5m in funding.

The round was co-led by Norwest Venture Partners and Salesforce Ventures with participation from IDEA Fund Partners, Two Sigma, GoBig.ai and Correlation Ventures.

The company intends to use the funds to accelerate product development and expand its go-to-market channels across the U.S. and globally.

Led by Founder and CEO Jagan Reddy, RightRev provides an advanced revenue recognition automation software platform for the Salesforce AppExchange, which will enable Salesforce Revenue Cloud customers to optimize the performance of lead-to-revenue processes.

Embedded within the Salesforce platform, the software complements Salesforce’s integrated CRM, CPQ, Subscriptions, Orders, Billings and Cash Collection.