Announcing a $10M Series A. New heights reveal an even higher peak.

Sameer Gulati
by Sameer Gulati LinkedIn
Feb 19, 2020 8:15:00 AM

When we launched our billing and revenue automation platform to the world 18 months ago, I set high expectations for the founding team. Transforming the way sales and finance teams work together to modernize their business models is no small undertaking.

With customers around the world in industries including software development, healthcare, logistics, performance management, manufacturing, and finance, we’ve witnessed transformation first hand. Building on this foundation, today I’m excited to announce we’ve raised a $10M Series A led by CRV and joined by Clocktower Ventures, Lerer Hippeau, and Revolution’s Rise of the Rest Seed Fund.

Ordway-team-photo-Feb2020

While we celebrate this milestone and the heights we’ve reached so far, we now see a set of even higher peaks in front of us. The journey ahead will be shaped by what we’ve learned and our ability to turn that knowledge into our current and future customers’ success.

What we’ve learned so far

Businesses, and more importantly their customers, are getting more and more demanding. They want custom terms, custom features, and custom pricing. Legacy systems are struggling to keep up with rapidly evolving business models at scale.

Customers want control. The days of getting away with black-box operations is over. People want traceability of how a number in a MRR report is generated. They also want control over how their customers pay invoices. Rigid invoice and email templates fall short when customers expect unified communications and experiences, not a series of disjointed applications bolted together.

Our customers are looking for thought partners to help them think strategically about their business. We’ve been able to meet and exceed that challenge. Our team has helped customers recover lost revenue, simplify their product portfolio, simplify their finance tech stack, and shorten a close process from weeks to days.

What the investment means for Ordway’s journey

First it’s a validation of our platform vision, and how its modern approach moves the industry beyond simple point solutions and ultra-heavy ERP applications. We’re effectively solving complex pricing, billing, and revenue recognition needs for our customers.

In the near term, you’ll see more options for organizations to more effectively control their sales-to-finance workflows through better visibility into their billing data as well as more connections to software throughout the ecosystem.

You will also see us firmly committed to partnering with organizations as they onboard through an initial configuration period and reinforce the relationship with best-in-class on-going support. Business is speeding up and we will go as fast as our partners need.

We will rapidly scale all parts of the business to serve our global customers: sales & marketing, product & engineering, and operations (we’re hiring by the way)...

Over-the-long run, the Ordway platform will get smarter and smarter and get even better at seamlessly bridging sales-to-finance so organizations can become relentlessly efficient.

Topics: billing, SaaS, operations, recurring revenue, press release, scaling, revenue recognition

 

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