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This article was published on November 14, 2012


    Billing service Billtrust receives $25m from Bain Capital for aggressive acquisition strategy

    Billing service Billtrust receives $25m from Bain Capital for aggressive acquisition strategy
    Josh Ong
    Story by

    Josh Ong

    Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him a Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him at [email protected].

    Outsourced billing service provider Billtrust has announced wrapping up a $25 million funding round from Bain Capital Ventures, with plans to use the money on new acquisitions to secure its place in the industry.

    That means Billtrust competitors should be on the lookout. The company has a fresh bankroll and it’s going shopping. It’ll have help, too, as CEO Flint Lane said Bain’s experience with corporate acquisitions will be of “immense value” as it looks around.

    As part of the deal, Bain managing partner Matt Harris will join the company’s board of directors. “Billtrust is the first company we have seen that is so well positioned to dominate the enterprise market,” Harris said.

    Ranked 1,347 on the Inc. 5000 list, the 11-year-old Billtrust was one of the first to do online bill notifications and payment through its Invoice Gateway service. It also operates a CustomerCare online portal and introduced an Invoice Central service for small businesses earlier this year.

    The $25 million round brings Billtrust’s total outside investment to $30 million. It had previously raised from Edison Ventures in 2006. The company merged with fellow billing service Mark Altman & Associates earlier this year to break into the municipal and utility sectors.

    Image credit: Jupiterimages