Philly investor LLR buys Malvern anti-theft firm 3SI (Philly.com)
Watch Out for Comcast in Network Virtualization, Says TBR (SDX CENTRAL)
Blue Apron Has a Good Product. Beware of the Stock. (NY Times)
First Round Capital owns 10.5% of Blue Apron.
Ring modernized the doorbell, then its inventor, Jamie Siminoff, went to war against crime (LA Times)
Cable giant Charter snubbed a buyout bid from Verizon (NY Post)
Comcast stock value surges near $200B, speeds past Verizon (Philly.com)
Power grid head Audrey Zibelman: the good news about sustainable energy (Sidney Morning Herald)
The long, winding road for driverless cars (The Economist)
Reporter has the story straight, I think.
With Gianforte's win, two of Montana's three congressional reps have ties to Oracl's win, two of Montana's three congressional reps have ties to Oracle (CNBC)
5/26: Dell Technologies Standardizes on Salesforce.com; Montana politico may have N.J. building named after him
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Greg Gianforte, Montana politico in fracas, may have N.J. building named after him (NJ.com)
Arris: DOCSIS 3.1 Wave Rising (Multichannel News)
Brocade goes bye-bye: Out on a high note ahead of Broadcom slurp (The Register)
Arris' purchase of the Ruckus business, now part of Brocade, won't happen until after Broadcom's acquisition of Brocade closes.
WideOpenWest shares fail to wow in debut (Reuters)
Altice USA should be next cable IPO.
S/4HANA cloud customers emerge – a video review and analysis (Diginomica)
Dell Technologies Standardizes on Salesforce.com
(CIOToday)
Ice Miller expanding IP practice with Philadelphia office (TheIndianaLawyer)
Billtrust raises $50 million to expand payment cycle management solution
Billtrust raises $50 million to expand payment cycle management solution
Plans include global expansion and investments in expanded services for Quantum Payment Cycle Management
HAMILTON, N.J., May 25, 2017 /PRNewswire/ -- Billtrust, the leader in payment cycle management, announced today a $50 million funding round led by Riverwood Capital Management. Billtrust will use the investment to strategically grow into adjacent markets, continue to innovate the products and services available in their Quantum Payment Cycle Management solution and expand their global footprint.
Founded in 2001, Billtrust is the pioneer of payment cycle management, helping clients automate and accelerate their accounts receivable (AR) processes to increase cash flow, improve operational efficiency and increase customer satisfaction.
"Billtrust's mission is to not only accelerate, but to help clients grow cash flow," said Flint Lane, CEO and founder of Billtrust. "Our Quantum Payment Cycle Management solution is unique in the market because it seamlessly automates what is a traditionally labor intensive, manual process for AR teams. With this new investment, we will look for growth opportunities in current and adjacent markets, continue innovating our Quantum solution to meet expanding client needs, such as credit and collections support, and broaden our reach in international markets."
Since its inception, Billtrust has complemented its aggressive organic growth strategy with five acquisitions over the last six years. The company boasts the most comprehensive, end-to-end cloud-based billing and payment solution in the industry.
Quantum's features include:
Simple integration with any existing ERP system
Tailored invoice delivery for every customer
Secure, multi-channel invoice payment options
Intelligent cash application to eliminate manual invoice and payment matching
"Billtrust helps enterprises with a critical part of running their business: how they get paid. Their market-leading Quantum solution meets the needs of CFOs for a strategic, end-to-end solution that drives cash flow and cost savings through automation and improved efficiency," said Francisco Alvarez-Demalde, founding partner at Riverwood Capital Management. "We are excited to partner with Billtrust's entire team in creating an enduring leader in the B2B payment cycle management sector. We see a clear long term secular shift towards process automation software as a strong tailwind for Billtrust to continue delivering on its mission of improving outcomes for AR departments."
With this funding, Mr. Alvarez-Demalde will join the Billtrust board of directors.
Financial Technology Partners LP and FTP Securities LLC (together "FT Partners") served as exclusive strategic and financial advisor to Billtrust on this transaction.
About Billtrust: Billtrust accelerates cash flow by automating invoice delivery, invoice payment, and cash application. Companies can improve operational efficiency throughout the invoice-to-cash process with electronic invoicing and payments in a flexible, cloud-based solution. Finance executives and AR specialists love and recommend Quantum, Billtrust's payment cycle management solution, for the remarkable cost savings, ease-of-use, and improved customer satisfaction rates.
Related Links
http://www.billtrust.com
5/25: Veeva Up 4% on Fiscal Q1 Beat; RevZilla gets new CEO
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RevZilla gets new CEO (Philadelphia Business Journal)
IBD 50 Stock Veeva Surges On Consensus-Crushing Q1 (IBD)
Veeva Up 4% on Fiscal Q1: Approaching a Threshold of Scale (Barron's Tech Trader Daily)
Map: Emerging tech hubs and what they're specializing in (Marketplace)
Rackspace continues managed services pivot with TriCore acquisition (VentureBeat)
Based in Massachusetts, TriCore has an office in Berwyn.
How did an ex-Upper Merion football player end up allegedly ‘body slamming’ a reporter in Montana? (Philly.com)
Gianforte founded RightNow Technologies, which he sold to Oracle for a reported $1.5 billion.
Jeff Immelt Places Big Bets on GE’s Software Push (Fortune)
AT&T's DirecTV Now Online Service Said to See Growth Sputter (Ad Age)
"we are really early in ecommerce"
— Shai (@shaig) May 25, 2017
"I'm looking at buying a lot of companies"
Marc Lore of Walmart / Jet#ecommerce #nyc
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