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Leading cloud-based software provider: Bill.com Holdings (BILL)

Bill.com Holdings (NYSE: BILL) was founded in 2006 and is headquartered in Palo Alto, California, USA, with 544 full-time employees. It is a cloud-based, leading software provider that can simplify, digitize and automate complex backends for small and medium-sized enterprises Financial operations.

Bill.com Holdings

Bill.com Holdings (BILL):

Bill.com is a cloud-based software provider that can automatically provide back-office financial operations for small and medium enterprises. The company’s AI-based platform can establish connections between companies and their suppliers and customers to help companies manage their cash inflows and outflows.

Bill.com has established cooperation with the largest financial institutions in the United States. Among the top 100 accounting firms in the United States, more than 70% of the companies use leading accounting software packages, including Oracle NetSuite, Sage Intacct, QuickBooks and Xero, and are The technical department of the American Institute of Certified Public Accountants (AICPA)-CPA.com’s preferred digital payment solution provider.

As a white-label end-to-end payment automation platform, Bill.com Connect is provided to financial institutions as part of its single sign-on online commercial banking ecosystem. Current clients include JPMorgan Chase Commercial Bank , Commerce Bank and First National Bank of Omaha . Bank of America and PNC also use Bill.com as part of their payment technology products.

Bill.com Holdings (BILL) financing:

  • On September 24, 2007, in Series B financing, Bill.com received US$6.5 million in funding led by Emergence.
  • On August 4, 2009, in the B+ round of financing, Bill.com received US$8.5 million from DCM Ventures and Emergence.
  • On June 16, 2010, Bill.com received a lead investment from Icon Ventures in the C round of financing, and 4 other institutions followed up with US$8.5 million in funding.
  • On December 8, 2011, the D round of financing, Bill.com was led by the Financial Partners Fund, and 5 other institutions followed the investment of 15.5 million US dollars.
  • On November 12, 2013, in the E round of financing, Bill.com received a lead investment from Scale Venture Partners, and a US$38 million investment from 13 institutions including DCM Ventures, August Capital, Emergence, and Icon Ventures.
  • On February 11, 2015, Bill.com received a $50 million investment from Bank of America , Scale Venture Partners and Silicon Valley Bank in the F round of financing, and 5 institutions including Commerce Ventures, August Capital, and DCM Ventures.
  • On April 10, 2015, Bill.com received additional investment of US$30 million from Emergence and TTV Capital.
  • On October 10, 2017, in the G round of financing, Bill.com received US$100 million in funding from JP Morgan (JP Morgan Chase) and Temasek Holdings (Temasek).
  • On April 2, 2019, in the H round of financing, Bill.com received a lead investment from Franklin Templeton Investments , and 5 institutions including Temasek Holdings , Fidelity , MasterCard and Cross Creek followed up with US$88 million in funding.

Bill.com Holdings (BILL) History:

  • In 2018, Bill.com was named one of the best places to work by the San Francisco Business Times, and Bill.com CEO Rene Lacerte was nominated by the San Francisco Business Times Upstart 50.
  • In July 2018, Bill.com launched International Business Payments, enabling customers to make electronic payments to suppliers in more than 40 countries , including India , China and the Eurozone. Payments can be made in U.S. dollars or 24 local currencies. Only Bill.com can enable users to make domestic and international payments on the same platform with the same process, making cross-border payments as easy as domestic payments. Using a simple process, users can view and control detailed payment information in one place. The initial version of the solution received overwhelming praise from users, and Bill.com announced in February 2019 that it had waived the wire transfer fee for payment using the platform.
  • In November 2018, Bill.com announced a partnership with First National Bank of Omaha (FNBO) to provide customers of the bank with digital back-office office automation with digital business payment services. This collaboration makes FNBO one of the first regional banks to provide digital accounts payable (AP) and accounts receivable (AR) functions to small and commercial customers to help them save time and get paid faster.
  • In February 2019, Bill.com and American Express announced a strategic partnership and launched a new product: Bill.com’s American Express “Vendor Pay” to help automate the accounts payable (AP) process , And enables companies to trade Express Business or Corporate Card with seamless payment providers in the United States without setting up a new Card account.
  • Mastercard has invested in Bill.com and announced a partnership to provide faster automatic payments for small and medium businesses. The two companies plan to provide Mastercard virtual cards as part of Bill.com’s automated accounts payable solution. As Bill.com continues to digitize payments, this adds a new electronic alternative to checks.
  • In May 2019, Bill.com launched the Bill.com smart business payment platform, which uses artificial intelligence to provide end-to-end workflow automation to simplify the payment process.
  • In September 2019, Bill.com announced that it supports international payments in 137 countries/regions and 106 currencies.
  • In October 2019, Bill.com introduced new features to help mid-market companies automate their AP/AR functions.

Bill.com Holdings (BILL) investment:

Bill.com Holdings (NYSE:BILL) listed on the New York Stock Exchange on 12/12/2019 IPO, planned issue price of $16.00-$18.00, actual issue price of $22, issued 8.8 million shares, raised $193.6 million, Goldman Sachs/ BofA Securities/ Jefferies/ KeyBanc Capital Markets underwriting, joint Canaccord Genuity/ Needham & Company/ William Blair.

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