B2B Payments

July Was A Busy Month (In Massachusetts) For B2B Investments

Not everything worth investing in happens in Silicon Valley!  At least last month, in the B2B space, Atlas Venture in Cambridge, Mass, lead the charge by taking part in three major funding rounds at Button, Captricity and Freshbooks. Their large investment in Freshbooks continues to drive the trend of investments in SMB software and tools that we’ve seen throughout 2014.   According to PYMNTS.com analysis, a total of $225.02 million was invested in July in B2B payments across a variety of segments – lending, wholesale, travel and entertainment, procurement, billing and invoicing, data and business analytics in July.  And, as we see on the retail side of payments, B2B investments reflect a desire to support businesses with tools that provide deeper analytics and the ability to leverage global opportunities.     Venture Investments in B2B Payments and Commerce Innovations 2014 YTD July 2014 North America July 7 – Frederick, MD-based Regent Education, which provides financial aid management and enrollment optimization software solutions for higher education, received $9 million in funding. $4 million was in series C from New Markets Venture Partners and Chrysalis Ventures while Ares Capital Corporation provided $5 in debt funding. The funds will be used to accelerate growth.   July 9 – Duetto, which develops pricing solutions for hotels, received $21 in series A funding by Accel Partners. The round includes previous investors Battery Ventures, Altimeter Capital, Co-Chairman and CEO of Thayer Lodging Leland Pillsbury, and Salesforce founder and CEO Marc Benioff. The funds will be used to expand the team.   July 9 – Santa Clara-based RackWare, which provides cloud solutions for enterprises, has received $2.3 million in funding led by existing investors Kickstart Seed Fund and Osage Venture Partners. The funds will be used to acquire customers and expand the team.   July 10 – Altierre Corp. a San Jose-based provider of ultra-low power long-range wireless technology that helps retailers add wireless systems to their stores, secured $21 million co-led by new investor Stratim Capital and D.E. Shaw & Co., and included Altierre’s existing investors ATA Ventures, DuPont Capital Management, Labrador Ventures and Kinetic Ventures. The round will be used to finance growth.   July 11 – According to CrunchBase Atlanta-based Rivalry, which provides sales team analytics to firms, raised $550,000 in new funding.   July 11 – Atlas Venture led a $2.25 million seed round in Button, a New York City-based startup focused on creating more efficient methods of finding and retaining customers for on-demand companies like Uber and Instacart. Additional investors in the seed round included DCM, Greycroft Partners, Mesa and VaynerRSE along with angel investors Tim Kendall, head of product at Pinterest, Ray Rothrock, former partner at Venrock, Scott Kurnit, founder of about.com and Gary Fritz, former president of Expedia Partner Services Group.   July 11 – Hackensack,NJ-based Vidyo, which offers all kinds of video solutions to consumers and enterprises in sectors such as healthcare and banking, raised $20 million in series E founding from existing investors Menlo Ventures, Rho Ventures, Sevin Rosen Funds, QuestMark Partners and Juniper Networks. The funds will be used to pursue new available opportunities immediately.   July 11 – New York restaurant payments app Cover has closed $5.5 million in funding. Andrew Parker of Spark Capital led the round. In addition to funding, Parker will be added to Cover’s board.   July 14 – Rocketrip, a platform that allows companies to save money on travel expenses by rewarding employees for cost-saving behavior, raised $3 million in funding led by Canaan Partners and Genacast Ventures, and includes participation from CrunchFund and Paul Buchheit. Funds will be used to drive sales efforts and expand the team.   July 14 – According to CrunchBase, Waltham Engelwood, CO-based ProLink Solutions, which provides software for tax credit solutions for enterprises among other services, has received a $100,000 investment from an undisclosed investor.   July 15 – Captricity, a Berkeley-based company that helps businesses and government units to become more efficient by providing data on time and reducing paper use, raised $10 million in our Series B investment round, led by Atlas Venture with Social+Capital also participating.   July 15 – Austin-based Apptive Inc develops a Web-based platform designed for small businesses to create and manage mobile applications raised $300,000 in funding. The funds will be used to increase the number of integrations with e-commerce partners such as eBay.   July 16 – Cranberry-based Prodigo Solutions Inc., a supply chain firm for hospitals, has received $12.5 million in funding from Alliance Healthcare Partners. The funds will be used to expand portfolio and finance growth.   July 18 – Techstar invested an undisclosed amount in Boulder-based Kapta, which helps companies communicate goals and track executive team objectives through a real-time dashboard.   July 18 – Hellion Ventures lead a led a $6.5 million Series A funding in California based Workspot, which provides ways for mobile workforces to access business applications and data from any mobile device. Other investors in the funding round included Qualcomm Ventures and Translink Capital. Workspot had already raised $3.3 million in a seed round from Qualcomm Ventures, Kleiner Perkins Caufield & Byers, Webb Investment Network and angel investors.   July 18 – According to CrunchBase, New York City-based SkyStem, a solution for automating financial reports, raised $425,000 in funding from undisclosed investors.   July 23 – FreshBooks, a Toronto-based solution for small businesses, raised $30 million in its first institutional investment round led by Oak Investment Partners with participation from Atlas Venture and Georgian Partners. The round will be used to finance growth.   July 23 – Salt Lake City-based Beanstalk, an online SaaS-based tax platform for small-to-medium sized businesses, raised $2 million in funding led by New Enterprise Associates with participation from EPIC Ventures, Deep Fork Capital and former Wall Street executive and investor Jim Engebretsen. The funds will be used for R&D and growth.   July 23 – According to CrunchBase Darien, CT Remedy Partners, which develops and manages bundled payments programs in partnership with hospitals, physician groups, health systems, skilled nursing facilities, and home health agencies, received $35.9 million in funding by an undisclosed investor.   July 24 – San Francisco-based Taulia, which offers supplier finance solutions, raised $27 million in series D founding led by QuestMark Partners and with participation from Matrix Partners, Trinity Ventures, Lakestar, DAG Ventures and SEB Private Equity.  The funds will be used for growth.   July 25 – Columbus-based Astute Solutions, which develops software that helps brands manage their customer’s experience, received an undisclosed amount of funding from Rubicon Technology Partners LP. The funds will be used to expand its offices and finance growth.   July 29 – New York based Voyat, a CRM platform for hotels has raised $1.8 million in seed funding. They are coming out of beta and saw investments from Metamorphic Ventures, Eniac Ventures, BoxGroup and Brett Crosby, co-founder of Google Analytics.   July 31, 2014 – San Francisco based provider of operations performance software, PagerDuty, closed $27.2 million in Series B funding. Bessemer Venture Partners led the round with participation from return backers Andreessen Horowitz, Baseline Ventures and Harrison Metal. Also, Trevor Oelschig, a partner at Bessemer Venture Partners, has been added to PagerDuty’s board of directors.     Asia   July 28 – Peel-Works, a SaaS and big-data analytics company enabling salesforce and traditional trade transformation, has raised a Series A round of $2 million from Inventus Capital Partners and IDG Ventures India. The investment received will be utilized to expand its existing offerings, hire senior management and ramp up technology and product development. Peel-Works will also expand further to global markets     Europe   June 30 – Liverpool, UK-based E-Sign, which lets businesses sign documents electronically, raised GBP 71,800 ($122,500) in equity crowfunding.   July 1 – Amersfoort, Netherlands-based magnetic.io, which provides cloud solutions for e-commerce, received $95,700 in seed funding according to CrunchBase.   July 2 – Αthens, Greece-based Discoveroom P.C. which provides software solutions for small lodges, has secured EUR 300,000($ 405,000) from Jeremy Openfund II. The funds will be used to expand the team and R&D.   July 2 – Valence, France-based Zoomici, an e-commerce platform that allows small merchants to sell goods, has raised EUR 1.3 million ($1.78 million) in funding from Esfin Gestion. Funds will be used to solidify the platform in France and to expand internationally.   July 10 – Switzerland-based 3BaysOver, a B2B tourism startup, raised CHF 1.2 million ($1.3 million) led by Swiss internet pioneer and tourism industry veteran Roland Zeller.   July 21 – Delft, Netherlands-based TradeCloud, a cloud supply chain startup, received undisclosed funding from VC Peak Capital. The funds will be used to scale up sales and marketing.     Mergers and Acquisitions   July 1 – Wilmington-based Taxware, a global provider of indirect tax software, managed services, and regulatory content, merged with Minnetonka-based Convey Compliance Systems, the #1 private third-party filer of 1099 form.*   July 1 – Toronto-based Longview Solutions, a provider of corporate performance management and tax provisioning software, was acquired by Marlin Equity Partners for an undisclosed amount.   July 7 – Colorado Springs-based Accellos and Minneapolis-based HighJump Software, both providers of supply chain management software and trading partner network technology, have merged, expanding the portfolio of products offered by both firms.*   July 8 – Branchburg, NJ-based Hiperos, a provider of third party management software, has been acquired by Opus Global for an undisclosed amount.*   July 8 – Baltimore-based Social Solutions, a provider of SaaS performance management software for human and social services, has entered an agreement to be acquired by Vista Equity Partners. Funding will be used for growth and innovation.*   July 14 – KCS Limited, a pan-Asian corporate services provider specializing in corporate accounting, corporate secretarial and payroll services, was acquired by TMF Group for an undisclosed amount.*   July 16 – Manchester, UK-based Atlas Products International, which provides SaaS B2B EDI integration, secure data transfer and e-invoice solutions, was acquired by HighJump Software for an undisclosed amount.*   July 17 – Denver-based Open Scan Technologies Inc., a firm that develops receivables process management software for corporations, has been acquired by Billtrust for an undisclosed amount.*   July 18 – Oslo, Norway-based Lindorff, which provides finance and debt collection solutions to corporations, has been acquired by Nordic Capital Fund VIII for EUR 2.3 Bn ($ 3.1 Bn). *   July 24 – Netherlands-based Quintiq, which provides supply chain planning and optimization software, was acquired by Dassault Systèmes for EUR 250 million ($337 million). The funds will be used to fund growth and expand to Asia and South America.*   July 25 – San Francisco-based Viator.Inc, which aggregates travel solutions, was acquired by TripAdvisor LLC for an undisclosed amount.*   July 29 – Waltham, MA-based MetraTech Corp., a provider of metadata-based billing, commerce and settlement solutions, was acquired by Ericsson for an undisclosed amount.       * Acquisitions are tracked but not included in the total investments

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