BillingPlatform
Overview
BillingPlatform is a cloud-based revenue lifecycle management platform based in Denver, Colorado. Established in 2012, the company was co-founded by Nathan Shinn and Leonid Solomonik. BillingPlatform has effectively leveraged its innovative technology to automate end-to-end billing processes for a wide range of business models, providing valuable services such as subscription management, revenue recognition, and complex pricing strategies. Over the years, the company has raised significant funds, including a notable $90 million growth equity investment from FTV Capital in early 2024, underscoring its strong market position and growth potential.
Recent Developments
- August 2024: BillingPlatform was recognized as a leader in the Gartner Magic Quadrant for Recurring Billing Applications, securing the highest scores in four of the five assessed use cases. This further establishes its credibility in the industry for recurring billing solutions.
- July 2023: The platform experienced its highest booking rates in Q2 2023, marking significant growth in enterprise client acquisitions and overall revenue. The company also expanded its partner program, highlighting collaborations with firms like Salesforce and NetSuite.
- June 2024: It announced a strategic partnership with ResMed to automate its billing and subscription management, further consolidating BillingPlatform's role in healthcare technology monetization.
- May 2024: BillingPlatform received the IDC SaaS Award for Customer Satisfaction in Subscription Management, highlighting its excellence in providing customer-centric solutions in the SaaS domain.
- January 2024: The company secured $90 million in growth equity from FTV Capital. This investment is aimed at accelerating its market expansion and enhancing its platform capabilities.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2012 |
| Headquarters | Denver, Colorado, USA |
| Founders | Nathan Shinn, Leonid Solomonik |
| Revenue | $15.1 million (2023 estimate) |
| Profits | Not publicly disclosed |
| Key Investors | FTV Capital, Columbia Capital |
| Industry | Financial Software |
| Number of Employees | Approximately 198 |
Early History
BillingPlatform was founded in 2012 by Nathan Shinn and Leonid Solomonik, focusing initially on developing versatile billing systems that catered to diverse business needs. The company's foundational strategy revolved around creating a platform that could adapt to any billing model, providing businesses the flexibility to configure billing processes without extensive coding. The platform gained initial traction with enterprises needing to automate complex billing operations, capitalizing on a market gap for agile and scalable billing solutions.
Company Profile and Achievements
BillingPlatform's business model centers around providing a comprehensive cloud-based solution for automating the revenue lifecycle, from product setup to payment collection. Its achievements are underscored by:
- Recognition as a leader in the Forrester Wave for SaaS recurring billing solutions.
- Being named Product of the Year by the Business Intelligence Group in 2023.
- A strategic investment from FTV Capital, aimed at scaling its operations and enhancing its product offerings.
- Development of over 700 platform enhancements in 2023, tailoring features to customer feedback and evolving industry demands.
- Deployment of its platform with major enterprises like J.P. Morgan and CooperSurgical, demonstrating its application in high-complexity environments.
Current Operations and Market Position
BillingPlatform currently operates as a key player in the financial software industry, providing robust solutions for subscription management and revenue recognition. Its market share is bolstered by its ability to streamline and integrate with existing business systems, including CRM and ERP solutions like Salesforce and NetSuite. It maintains a competitive edge through continuous innovation and a strategic focus on automating complex billing and monetization processes, allowing businesses to adapt to digital economy demands smoothly.
Billingplatform Revenue
BillingPlatform's revenue has shown a substantial growth trajectory, as evidenced by a three-year revenue growth rate of 332%. The company's revenue-focused automation solutions cater to a wide range of industries, ensuring steady financial performance and attracting significant investment for further expansion.
Billingplatform Competitors
BillingPlatform faces competition from several software providers in the billing and revenue management space, including innovators like Zuora and Chargebee. These competitors also offer subscription management and billing solutions, but BillingPlatform distinguishes itself through its configurable platform and robust customer satisfaction.
Billingplatform Pricing
BillingPlatform offers a customized pricing model, typically starting at around $50,000 annually for its services. The pricing structure is adaptable to different business needs, ensuring scalability and alignment with specific operational requirements.
Conclusion
BillingPlatform stands as a preeminent figure in the financial software sector, empowering enterprises with flexible and scalable solutions that streamline the monetization process. The company's continued emphasis on innovation and strategic investments positions it strongly for future growth. With its comprehensive platform, BillingPlatform is well-equipped to address the evolving needs of businesses seeking agile billing solutions, making it a significant player in the digital transformation of revenue lifecycle management.