Billtrust Names New CMO and CFO to Grow Order-to-Cash Business

Billtrust has announced two new executive appointments about a month after being acquired.

The provider of B2B order-to-cash software has named Grant Johnson chief marketing officer (CMO) and Robert Purcell chief financial officer (CFO), according to a Tuesday (Jan. 10) press release.

The appointments follow the December completion of the acquisition of the company by EQT Private Equity and naming of Sunil Rajasekar as CEO.

“I am thrilled to welcome Grant and Robert to Billtrust,” Rajasekar said in the release. “As experienced executive leaders with proven track records of success, Grant and Bob accelerate our ability to create extraordinary outcomes for our customers as we help them digitize their order-to-cash process.”

Johnson’s experience includes helping integrate more than 20 acquisitions, transforming companies from growth stage to enterprise and holding key executive positions with Emburse, Cylance, Kofax and Pegasystems.

Purcell has led, completed and integrated acquisitions, led initial public offering (IPO) preparedness, and served in executive roles at Talend and Paysafe.

EQT Private Equity completed its acquisition of Billtrust on Dec. 16, at which time Billtrust ceased trading and was no longer listed on Nasdaq.

The all-cash transaction, which valued Billtrust’s equity at about $1.7 billion, came a year after the company went public.

It brought together two companies that are committed to innovation and transformation, have experience at the intersection of software, FinTech and payments, and aim to help customers streamline their finance operations, Arvindh Kumar, partner and co-head of EQT’s global technology sector team, said in September when the then-pending acquisition was announced.

Rajasekar was named CEO three days later, on Dec. 19, succeeding company founder Flint Lane, who will remain on the board of directors.

“I am honored to serve as the CEO of Billtrust, and it is clear to me that Billtrust is a special company with a great culture that solves a real business need for customers by removing the challenges around their order-to-cash processes,” Rajasekar said at the time. “This has always been a very important business function but even more so in today’s macro environment, where managing a company’s cash flow and customer satisfaction is critical.”