Billtrust, a company that provides a SaaS to manage online billing for companies, has raised $25 million in from Bain Capital Ventures. This brings Billtrust’s total funding raised to $30 million.
Billtrust, which was founded eleven years ago, powers electronic billing and payments for consumer and business billing services across North America. The company, which builds and hosts billing solutions, offers business to business services as well as business to consumer services. For example, a number of newspaper groups use Billtrust to power online billing for subscriptions.
The company says that revenues have grown tenfold over a five-year period. Billtrust will use the new capital for acquisitions.