tracxn - finance & accounting startup landscape

JANUARY 2018

FINANCE & ACCOUNTING

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Finance & Accounting - Jan 2018

Contents

Feed Summary

Investment Trends

Market Details

Exit Outlook

Investors

News

Appendix

2

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Contents

Feed Summary

Investment Trends

Market Details

Exit Outlook

Investors

News

Appendix

3

Feed Summary

Investment Trend Summary

Exit Outlook Summary

BlueBox

Summary of Key Markets

Notable Companies in the Sector

Recent News


Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on January 4, 2018.

Finance & Accounting Feed Summary

4

Finance & Accounting > Feed Summary

Tools or software for automating functions of finance and accounting department of an organization.

• Inclusions: All the software solutions helping companies manage their finance and accounting functions will be covered in the feed. This will include all the legacy software companies be it on-premise licensed or cloud-based software. The outsourcing companies will be included only if they either have in-house proprietary software or marquee customers or heavily funded. Financing companies will be covered only if they provide a software for one or more accounting functions. Companies providing digitization of paper-based financial documents will be covered under enablers.

• Exclusions: Pure play services firm that offers accounting related services, Companies focused only on financing will not be covered. Companies providing solutions for any specific sector are not covered.

• Excludes funding information of Chinese companies

Feed in Numbers

Overview

$9BFunding

60Mega Companies

6442840FundedCovered on

Tracxn

12Unicorns

32Soonicorns

33Minicorns

33IPO’d Cos

276Late Stage Cos

93

34Acquisitions

87DeadPooled

154Acquihired

Series A+ CosSunGard

(1982, Wayne, Acquired)

AvidXchange(2000, Charlotte, $560M)

Wolters Kluwer(1836, The Hague, Funded)

Top Companies


Investment Trend SummarySummary of Funding Activity in Finance & Accounting

5

$300M - Series FAvidXchange (2000, Charlotte, $560M)

$88M - Series DApttus (2006, San Mateo, $329M)

$115M - PEPaySimple (2006, Denver, $137M)

$75M - Series DTradeshift (2009, San Francisco, $266M)

$100M - Series GBill.com (2006, Palo Alto, $259M)

$70M - Series BIvalua (2000, Redwood City, $73M)

$90M - Series EAnaplan (2006, San Francisco, $300M)

$60M - Series FAnaplan (2006, San Francisco, $300M)

$90M - Series CGusto (2011, San Francisco, $176M)

$60M - PECapital Confirmation (2000, Brentwood,

$63M)

Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend*YTD *YTD

Finance & Accounting > Feed Summary > Investment Trend Summary

Seed Y Combinator (#14), Kima Ventures (#4), SixThirty (#4)

Series A/B Accel Partners (#5), Arbor Ventures (#3), Bain Capital Ventures(#3)

Series C+Meritech Capital Partners (#3), Bain Capital Ventures (#2),

Luminate Capital Partners (#2)

Incubators 500 Startups (#13) Techstars (#10) Barclays Accelerator (#3)

Other Notable Investors

FundersClub (#7), BDC Capital (#6), Plug and Play Tech Center(#6)

Debt Investors Silicon Valley Bank (#6), BEST Funds (#2), Crystal Financial (#1)

Most Active InvestorsRecent Investments

238

282

341

212

59

2013 2014 2015 2016 2017 2018*Y-o-Y # of Companies Founded 84 130 138 142 119 -

$723M

$1.B

$1.6B

$1.2B

$1.4B

2013 2014 2015 2016 2017 2018*

$ Funding # Rounds$7.1B

$650M

$319M

$98.5M

$97.6M

US

Europe

Canada

Australia

India

$ Funding


Summary of exit outlook in Finance & Accounting

Exit Outlook Summary

66

Most Active AcquirersTop Investors in Exits

Salesforce 4Apttus (2006, San Mateo, $329M)

Anaplan (2006, San Francisco, $300M)

Emergence Capital 3Gusto (2011, San Francisco, $176M)

Intacct (1999, San Jose, $95.8M)

Shasta Ventures 3Anaplan (2006, San Francisco, $300M)

Zuora (2007, Foster City, $250M)

Iconiq Capital 3Apttus (2006, San Mateo, $329M)

BlackLine (2001, Woodland Hills, $220M)

New Enterprise Associates

3Workday (2005, Pleasanton, $267M)

Perfect Commerce (1994, Newport News, $30M)

Jul 2017 Intacct Acq by Sage Group for $850M

Jul 2016Electronic Funds Source Acq by Wright Express for $1.1B

Nov 2015SunGard Acq by Fidelity Information Services for $9.1B

May 2015 GFKL Acq by Permira investment for $681M

Dec 2014 Concur Acq by SAP for $8.3B

Oct 2014 Digital River Acq by Siris Capital for $840M

Finance & Accounting > Feed Summary > Exit Outlook Summary

SAP 3Concur (Dec 2014, $8.3B), Ariba (Oct 2012, $4.3B), Hybris (Aug

2013)

Intuit 3TSheets (Dec 2017, $340M), PayCycle (Jun 2009, $170M),

Electronic Clearing House (Feb 2008, $131M)

Thoma Bravo 1 PowerPlan (Feb 2015)

Salesforce 1 SteelBrick (Dec 2015, $360M)

Ericsson 1 MetraTech (Jul 2014)

Recent IPOs Top Acquisitions

Cerillion Skyline Mar 2016Subscription billing, charging and CRM so…IPO MCap: - Current MCap: $832k

Class Super Dec 2015Cloud-based software solutions for wealth…IPO MCap: $84.1M Current MCap: $256M

MYOB Apr 2015Business management solutions provider.IPO MCap: - Current MCap: $1.7B

Workiva Dec 2014Compliance and management reporting platf…IPO MCap: $553M Current MCap: $891M

IRIS Oct 2017Cloud based XBRL solutionsIPO MCap: $9.2M Current MCap: $9.2M

FreeAgent Nov 2016SaaS Finance Management for SMBIPO MCap: $42.5M Current MCap: $544k

BlackLine Oct 2016Account reconciliation softwareIPO MCap: $839M Current MCap: $1.8B

Coupa Oct 2016Cloud spend management software.IPO MCap: - Current MCap: $1.7B


January 2018Tracxn BlueBox – Finance & Accounting2840+ companies in the sector, 377 funded in last 5 years, $2.6B invested in last 2 Years Most Active Investors: Y Combinator, 500 Startups, Accel Partners, Silicon Valley Bank, Techstars 0

50

100

150

200

250

300

350

400

2013 2014 2015 2016 2017

No of Companies Founded

0

500

1000

1500

2000

2013 2014 2015 2016 2017

– YOY Funding Trend (in $M)

ACCOUNTING SOLUTIONS FINANCIAL MANAGEMENT

SuiteAnaplan (2006, San Francisco, $240M)

ACCOUNTING ENABLERS

Data DigitizationCommerce Sync (2005, Denver, $50M)

B2B PaymentsEscrow.com

(1999, Rancho Santa Margarita, $30M, Acq.)

Collaboration SoftwareGetSqrl (2013, Cincinnati, $550K)

Subscription BillingVindicia (2003, Redwood City, $41M, Acq.)

Business IntelligenceKlipfolio (2001, Ottawa, $19M)

Budgeting & ForecastingCentage (2002, Natick, $25M)

Equity AdministrationCertent (2002, Pleasanton, $36M)

Treasury ManagementKyriba (2000, San Diego, $114M)

Accounting SuiteIntuit (1983, Mountain View, IPO)

BookkeepingBench (2012, Vancouver, $33M)

Invoice ManagementAvidXchange (2000, Charlotte, $558M)

Payroll ManagementGusto (2011, San Francisco, $176M)

Quote-to-CashApttus (2006, San Mateo, $274M)

Procure-to-PayTradeshift (2009, San Francisco, $266M)

Expense ManagementItzCash (2006, Mumbai, $51M, Acq.)

Account ReconciliationBlackLine (2001, Woodland Hills, $220M, IPO)

TaxationAvalara (2004, Bainbridge Island, $311M)

AuditingCapital Confirmation (2000, Brentwood, $63M)

Regulatory ReportingWorkiva (2008, Ames, $54M, IPO)

$7.2B $1.4B

$419M

Finance & Accounting > Feed Summary > BlueBox

Cumulative funding in the market

7

Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies For any Feedback and Query reach out to [email protected]

mailto:[email protected]


Key Sub Sectors in Finance & Accounting Sector

Summary of Key Markets

8

Top Markets of Investment Activity# Cos on Platform

Last 2 Years

$ Invested # Round

Accounting Solutions > Invoice

Management >

Payables66 $360M 11

Accounting Solutions > Accounting Suite >

SMB 378 $146M 17

Accounting Solutions > Expense

Management >

Expense Tracking Software179 $102M 28


Management >

Payables & Receivables117 $168M 11

Financial Management >

Treasury Management 62 $127M 12

Financial Management >

Suite 70 $218M 10


Management > Receivables >

Collections180 $60.5M 20

Accounting Solutions >

Procure-to-pay 60 $202M 9

Accounting Solutions > Payroll

Management >

Payroll Software98 $167M 10

Accounting Solutions >

Quote-to-cash 33 $215M 5

Sub Sectors# Cos

Tracked#

FundedTotal

Funding

Accounting SolutionsCompanies providing financial accounting related solutions such as bookkeeping, invoicing,...

2140 437 $7.2B

Financial ManagementCompanies offering various financial planning tools for valuation, forecasting, and other...

361 108 $1.4B

Accounting EnablersCompanies offering solutions to enable/optimize the accounting processes

329 97 $419M

Finance & Accounting > Feed Summary > Summary of Key Markets


List of Notable Companies in Finance & Accounting

Notable Companies in the Sector (1/2)

9

Note: *(Founded Year, Location, Total Funding)

Finance & Accounting > Feed Summary > Notable Companies in the Sector

Public

Workday(2005, Pleasanton, $267M)*

BlackLine(2001, Woodland Hills, $220M)

Workiva(2008, Ames, $53.8M)

Model N(1999, Redwood City, $37M)

Blackbaud(1981, Charleston)

Proactis(1996, Wetherby)

Flexi(1991, Shelton)

Bottomline Technologies(1989, Portsmouth)

Class Super(2009, Sydney)

FreeAgent(2007, Edinburgh, $4.9M)

Public

8common(2014, Sydney)

IRIS(2000, Vashi)

Wright Express(1983, South Portland, $355M)

Coupa(2006, San Mateo, $169M)

Cerillion Skyline(1999, London, $9M)

Heeros(2000, Helsinki)

MYOB(1991, Glen Waverley)

VersaPay(2006, Vancouver)

Esker(1985, Lyon)

Basware(1985, Espoo)

Public

BizXpert(1989, Budapest)

Direct Insite(1987, Lauderdale)

Intuit(1983, Mountain View)

PRGX(1970, Atlanta)

PromikBook(2010, Gothenburg)

Reckon(1987, Sydney)

Sage Group(1997, Newcastle Upon Tyne)

Sidetrade(2000, Boulogne)

Solium(1999, Calgary)

The Mint Corporation(2009, Dubai)

Public

Tungsten Network(2000, London)

US Dataworks(1997, Sugar Land)

Xero(2006, Wellington)

Acquired

SunGard(1982, Wayne)

Concur(1993, Bellevue)

Ariba(1996, Sunnyvale)

Electronic Funds Source(1996, Ogden)

Intacct(1999, San Jose, $95.8M)

Digital River(1994, Minnetonka)

GFKL(1992, Essen)

SteelBrick(2002, Palo Alto, $77.5M)

TSheets(2006, Boise, $15M)

Applix(1983, Westborough)


List of Notable Companies in Finance & Accounting

Notable Companies in the Sector (2/2)

10

Note: *(Founded Year, Location, Total Funding)

Finance & Accounting > Feed Summary > Notable Companies in the Sector

Acquired

Tagetik(1986, Lucca)

IPay Technologies(2001, Elizabethtown)

BlueGill Technologies(1996, Brookfield)

PayCycle(1999, Palo Alto, $28M)

OB10(2000, London, $10.1M)

MYOB BankLink(1986, Auckland)

Perfect Commerce(1994, Newport News, $30M)

Electronic Clearing House(1981, Camarillo)

ItzCash(2006, Mumbai, $52.6M)

SurePayroll(2000, Glenview)

Acquired

Certify(2008, Portland, $2.2M)

Unicorns


Apttus(2006, San Mateo, $329M)

Anaplan(2006, San Francisco, $300M)

Zuora(2007, Foster City, $250M)

Gusto(2011, San Francisco, $176M)

Wolters Kluwer(1836, The Hague)

https://blog.tracxn.com/request-for-demo?utm_source=Finance-&-Accounting&utm_medium=About-Us-Page-Feed-Summary&utm_campaign=Demo-Button&utm_content=About-Us


List of Notable Companies by Market in Finance & Accounting

Notable Companies by Market (1/11)

12

Finance & Accounting > Feed Summary > Notable Companies by Market

Accounting Solutions

Accounting Suite

Workday (2005, Pleasanton, $267M)Human Resources and Financial Management SuiteStage: Public

T. Rowe Price, Morgan Stanley, Bezos Expeditions and 6 Other Investors

FinancialForce (2009, San Francisco, $194M)Cloud ERP solutions providerSoonicorn. Stage: Series D

Technology Crossover Ventures, Salesforce, Advent International and 1 Other Investors

Intacct (1999, San Jose, $95.8M)Cloud ERP, Financial management and Accounting ApplicationsSoonicorn. Stage: Acquired

Silicon Valley Bank, Battery Ventures, Bessemer Venture Partners and 9 Other Investors

Accounting Suite

Wave Accounting (2009, Toronto, $86.3M)SaaS Accounting for SMBs and personal finance management. Soonicorn. Stage: Series D

National Australia Bank, Royal Bank of Canada, Portag3 Ventures and 9 Other Investors

Freee (2012, Minato, $54.8M)Automated cloud accounting and payroll software. Soonicorn. Stage: Series C

SBI Investment, DCM Ventures, Recruit Holdings and 4 Other Investors

FreeAgent (2007, Edinburgh, $4.9M)SaaS Finance Management for SMBStage: Public

SaaS Capital, Lightbank, KickAss Capital and 4 Other Investors

MYOB (1991, Glen Waverley)Business management solutions provider. Unicorn. Stage: Public

Bain Capital Private Equity, HarbourVest Partners

Accounting Suite

Blackbaud (1981, Charleston)Non-profit software providerStage: Public

JMI Management, Hellman & Friedman

Class Super (2009, Sydney)Cloud-based software solutions for wealth accounting. Stage: Public

Flexi (1991, Shelton)Enterprise accounting software Solutions for financial services industry. Stage: Public

Intuit (1983, Mountain View)business & financial mgmt. solutionsStage: Public

KPCB, Sierra Ventures

Reckon (1987, Sydney)Web-based accounting and bookkeeping software for SMBs and other usersStage: Public

https://tracxn.com/companies/eQANXH6ao7jTMXSFPch-0ycKtFZ4Hgqhi0L9mwdJTmo/workday.com

https://tracxn.com/companies/85a_kDZCH5SnXl1n7AIyh2mjaYtbDaNKlmzPogaOyjw/financialforce.com

https://tracxn.com/companies/wyg3cq1FnYgk6fKX9JvXaNzrluZZduWD7_a4Ftipls0/intacct.com

https://tracxn.com/companies/PuYspUTwO2mENlcIdPQDQKOURLtNtQHJVlv3zExOqww/waveapps.com

https://tracxn.com/companies/rzfiNC3YrgIbVsCOq_DoY31oekzzpVM7OQiEWZCkmVA/freee.co.jp

https://tracxn.com/companies/pOy1sJ3zX4-VHPRCHIFwBhWK2EMvm2RBMkoYmQs5GJo/freeagent.com




13



Accounting Suite

Sage Group (1997, Newcastle Upon Tyne)Accounting, HR and ERP solutions for SMEsStage: Public

American Express, Ratan N Tata, Edison Partners

Xero (2006, Wellington)Online Accounting Software for SMBsStage: Public

Technology Crossover Ventures, Accel Partners, Matrix Partners and 3 Other Investors

Bookkeeping

PromikBook (2010, Gothenburg)Billing and bookkeeping software provider. Stage: Public

Aggregate Media

Invoice Management

AvidXchange (2000, Charlotte, $560M)Accounts payable and payment automation solutionsUnicorn. Stage: Series F

MasterCard, Peter Thiel, Caisse de depot et placement du Quebec and 13 Other Investors

Bill.com (2006, Palo Alto, $259M)Provider of cloud-based payables and receivables payment solutions. Soonicorn. Stage: Series G

JPMorgan Chase & Co., Temasek, American Express and 13 Other Investors

Taulia (2009, San Francisco, $137M)Electronic invoicing and dynamic discounting solution. Soonicorn. Stage: Series E

Zouk Capital, BBVA Ventures, EDBI and 10 Other Investors

https://tracxn.com/companies/Azym9v_lBC7FYPMln3NXB5ySU9IgzwHXSbFbHN4uBeQ/xero.com

https://tracxn.com/companies/vetWZPwU8fFcJOro1gcr7FIhLdTPakXlWMqtYKzZK1g/avidxchange.com

https://tracxn.com/companies/XUiDj5kq00_goSZIRLM_pdp-7_1EZiqtO6XeQXjUH74/bill.com

https://tracxn.com/companies/0Afh2A7UlNySoV70Up7bOQP0lRmHWH02ocnmoPKJHf4/taulia.com




14



Invoice Management

PaySimple (2006, Denver, $137M)Online Payment and Invoicing for small businessSoonicorn. Stage: Series B

Providence Equity Partners, Susquehanna Growth Equity, Aurionpro and 3 Other Investors

Billtrust (2001, Mercerville, $105M)B2B and B2C payment cycle management solutionsSoonicorn. Stage: Series D

KeyBank, Riverwood Capital, Bain Capital Ventures and 3 Other Investors

C2FO (2008, Fairway, $97.7M)Provides platform for cash flow optimization between business and suppliersSoonicorn. Stage: Series D

Citi, Mithril, Temasek and 8 Other Investors

Viewpost (2012, Maitland, $89.5M)eInvoicing and online payment solution. Soonicorn. Stage: Series C

Caretta, Western Technology Investment

Invoice Management

Transactis (2001, New York City, $61.7M)White label for bill paymentsSoonicorn. Stage: Series E

Fifth Third Bancorp, PNC Financial Services Group, Safeguard Scientifics and 9 Other Investors

Invoice2go (2002, Sydney, $50M)Invoice AppSoonicorn. Stage: Series C

Ribbit Capital, Accel Partners, Western Technology Investment

TSheets (2006, Boise, $15M)Time Tracking SoftwareMinicorn. Stage: Acquired

Summit Partners

OB10 (2000, London, $10.1M)B2B eInvoicing, invoice financing and analytics firm. Stage: Acquired

Black River Asset Management, FF and P Private Equity, Straub Ventures and 2 Other Investors

Invoice Management

BlueGill Technologies (1996, Brookfield)Electronic billing and payment solutionEditor's Pick. Stage: Acquired

Blue Chip Venture, Allos Ventures, Morgenthaler and 1 Other Investors

Bottomline Technologies (1989, Portsmouth)Invoice, document automation solutionsStage: Public

TempoCap

VersaPay (2006, Vancouver)Cloud based B2B accounts receivable solution providerStage: Public

Esker (1985, Lyon)Document automation & order management softwareStage: Public

Sigma Gestion

https://tracxn.com/companies/jXfCtJaQLk072nhn2_XM8i7JUhi_HvYeXskz_ySW3s8/paysimple.com

https://tracxn.com/companies/fcpskNjHN9Re5UhgtOV_EmWomvaVRfvDxsSrhWoo6kc/billtrust.com

https://tracxn.com/companies/DI930fLyQM6hoXHK4EYubHL7ntLveXVqWAiSJaPsIjI/c2fo.com

https://tracxn.com/companies/C98O1uB9HI99gX5puxewnEYpuzMXsmgEtJY_SYu1Vf8/transactis.com

https://tracxn.com/companies/k4jBmzTeR563mHsNkyhfjeNMpQ8YVW2SyGBqcNh38Bo/ob10.com

https://tracxn.com/companies/VSxapLRbr4A9YrWUgeJg9DL_1vHRVFCdm9uiQmsHGNM/bluegill.com




15



Invoice Management

BizXpert (1989, Budapest)Cloud-based invoicing solution for Windows. Stage: Public

Direct Insite (1987, Lauderdale)Cloud based accounts payable and receivable management software provider. Stage: Public

Metropolitan Venture Partners, Sigma Capital Partners

GFKL (1992, Essen)Receivables' collections service provider. Stage: Acquired

Advent International, SVG Capital

Sidetrade (2000, Boulogne)Account Receivable automationStage: Public

Odyssee Venture, XAnge, Phitrust Impact Investors and 1 Other Investors

Quote-to-cash

Apttus (2006, San Mateo, $329M)CRM SaaS Pricing, Quoting, and ContractsUnicorn. Stage: Series E

Salesforce, K1 Investment Management, Iconiq Capital and 3 Other Investors

Zuora (2007, Foster City, $250M)Subscription billing and managementUnicorn. Stage: Series F

Next World Capital, Shasta Ventures, Index Ventures and 12 Other Investors

Aria (2003, San Francisco, $150M)Subscription Billing & Management SoftwareSoonicorn. Stage: Series E

Madison Bay Capital Partners, Hummer Winblad Venture Partners, InterWest Partners and 7 Other Investors

Quote-to-cash

SteelBrick (2002, Palo Alto, $77.5M)SaaS based CPQ for SalesForce.com usersStage: Acquired

IVP, Emergence Capital, Salesforce and 2 Other Investors

Model N (1999, Redwood City, $37M)Cloud based revenue management solution for life science and hi-tech industryStage: Public

Crystal Financial, Meritech Capital Partners, Accel Partners and 2 Other Investors

https://tracxn.com/companies/AvD4Nnqld4b7enWTA7Ixh4TFfE48UQ7rknDTVv-uS9w/sidetrade.com

https://tracxn.com/companies/yPkKUnB45HzfDUtKx89y6HXVBSehaXRPR_3KO7t8PDA/apttus.com

https://tracxn.com/companies/wlTNX9kRkZC0DdBchAEEqIYfMeHFIsSkQKgD4Pwf33Q/zuora.com

https://tracxn.com/companies/3SHP3UWwzmatzvM3SJJ8Ww4mhSikYEdxnCloOgw7jJo/ariasystems.com

https://tracxn.com/companies/GuGkgg1nC9be5pbns6jHTK9_TDFXHkxoV8vorrLviVU/steelbrick.com

https://tracxn.com/companies/Nd0flM2QNVOZULFQHy1AXBWcAKbM5B5vWncC4J9ap_o/modeln.com




16



Procure-to-pay

Tradeshift (2009, San Francisco, $266M)Collaboration, electronic invoicing and dynamic discounting solutionSoonicorn. Stage: Series D

Wipro, Santander InnoVentures, Data Collective and 12 Other Investors

Coupa (2006, San Mateo, $169M)Cloud spend management software. Unicorn. Stage: Public

Battery Ventures, El Dorado Ventures, Crosslink Capital and 10 Other Investors

Chrome River (2007, Los Angeles, $120M)SaaS Expense Reporting & Invoice ManagementSoonicorn. Stage: Series D

Great Hill Partners, Bain Capital Ventures, First Analysis and 3 Other Investors

Procure-to-pay

Perfect Commerce (1994, Newport News, $30M)Procure-to-Pay AutomationStage: Acquired

Apax Partners, Mayfield, New Enterprise Associates and 11 Other Investors

Ariba (1996, Sunnyvale)e-Procurement, invoicing, and B2B collaboration softwareUnicorn. Stage: Acquired

Intel, The Beekman Group, MK Capital and 2 Other Investors

Heeros (2000, Helsinki)Cloud-based tool for financial information managementEditor's Pick. Stage: Public

Basware (1985, Espoo)P2P and e-invoicing solutionsStage: Public

Procure-to-pay

Proactis (1996, Wetherby)Spend control and e procurement solution providerStage: Public

4490 Ventures

Tungsten Network (2000, London)e-invoicing, invoice financing and analytics companyStage: Public

https://tracxn.com/companies/KvaiyrDunkRiNryea7QiHxbwTKecvcA__tFqxzXXZyQ/tradeshift.com

https://tracxn.com/companies/aMR8LrkFssoWsKwH9qsQ0m1yNnSM6QL482pZTy5xjaU/coupa.com

https://tracxn.com/companies/NVLMszWM7wWuIv8GuaWhRzjPjqCKjlTa2YnfifS7YFM/chromeriver.com

https://tracxn.com/companies/RqbPkcs4jN_QHq1VrLEnQVeLD72zxHWQxidr9kQGU30/perfect.com

https://tracxn.com/companies/5hSI3hwHaNO0NFwJlxx9hafJORjRBJDamMlFBAxk-do/ariba.com




17



Payroll Management

Gusto (2011, San Francisco, $176M)Cloud-based HRMS and payroll management solutionUnicorn. Stage: Series C

General Catalyst Partners, Obvious Ventures, CapitalG and 23 Other Investors

Justworks (2012, New York City, $53M)Online payroll and benefits platformSoonicorn. Stage: Series C

Redpoint Ventures, Bain Capital Ventures, Thrive Capital and 4 Other Investors

CloudPay (1996, Raleigh, $46M)SaaS Payroll software and servicesSoonicorn. Stage: Series B

Rho Ventures, Rho Capital Partners

PayCycle (1999, Palo Alto, $28M)Online Payroll service provider. Stage: Acquired

TTV Capital, August Capital, DCM Ventures and 1 Other Investors

Payroll Management

Celergo (2004, Deerfield, $15M)Payroll service providerSoonicorn. Stage: Funded

Frontier Capital

Hyperwallet Systems (2000, California)Mass Payout solution provider. Soonicorn. Stage: Funded

Primus Capital Partners, Raymond James, Primus Capital

SurePayroll (2000, Glenview)Online Payroll Service for SMBsStage: Acquired

The Mint Corporation (2009, Dubai)Gateway, POS and prepaid payroll card servicesStage: Public

Expense Management

Wright Express (1983, South Portland, $355M)Financial and information management solutionsStage: Public

North Atlantic Capital, First Analysis

ItzCash (2006, Mumbai, $52.6M)Provider of prepaid payment cardsSoonicorn. Stage: Acquired

Intel Capital, Matrix Partners India, Lightspeed Venture Partners

Certify (2008, Portland, $2.2M)Travel & Expense Management SoftwareStage: Acquired

Innoventure Partners, Haystack Partners, Palm Ventures and 3 Other Investors

Concur (1993, Bellevue)End-to-end travel expense managementUnicorn. Stage: Acquired

American Express, IVP, Redpoint Ventures and 6 Other Investors

https://tracxn.com/companies/Z03ww0yKBEc8APYPkCH_qi_Ry7GFVIitrOM2SM_ingM/gusto.com

https://tracxn.com/companies/J2ru5Z1oxk7tk_YdyIcUnOTvTdVizJ2Fb_2qYO9QG4s/justworks.com

https://tracxn.com/companies/EkLSMHPXtKJ_EIBwxWoA8PPcpQOGR2MyJaiAUDhZdMo/paycycle.com

https://tracxn.com/companies/Pm6mWSxa_OJ7z1IHegfg7JtOemjbaAVD0jyajP-7Dns/certify.com

https://tracxn.com/companies/KX5aMeE1Gyo-4WjiwTZxG3Va54J4uX5pjXRB7BK3IBo/concur.com




18



Expense Management

Electronic Funds Source (1996, Ogden)Corporate and Fleet Expense solutionsUnicorn. Stage: Acquired

Ardian

8common (2014, Sydney)Suite of enterprise softwareStage: Public

8capita

Taxation

Avalara (2004, Bainbridge Island, $311M)Cloud-based Taxation ServiceSoonicorn. Stage: Series F

Warburg Pincus, Technology Crossover Ventures, Sageview Capital and 5 Other Investors

Auditing

PRGX (1970, Atlanta)Accounts Payable recovery audit and advisory services provider. Stage: Public

Blum Capital Partners

https://tracxn.com/companies/OFqumYQDD-LEomrItTkI5ve98aE4sGBJ1TikBWe2kQs/avalara.com




19



Account Reconciliation

BlackLine (2001, Woodland Hills, $220M)Account reconciliation softwareStage: Public

Iconiq Capital, Silver Lake, Sumeru Equity Partners

Regulatory Reporting

Workiva (2008, Ames, $53.8M)Compliance and management reporting platformStage: Public

IRIS (2000, Vashi)Cloud based XBRL solutionsStage: Public

Subhkam Ventures

Financial Management

Suite

Anaplan (2006, San Francisco, $300M)SaaS Corporate Performance Management PlatformUnicorn. Stage: Series F

Premji Invest, Top Tier Capital Partners, Baillie Gifford and 13 Other Investors

Adaptive Insights (2003, Palo Alto, $151M)SaaS Corporate Finance ManagementSoonicorn. Stage: Series G

Monitor Ventures, Information Venture Partners, Cardinal Venture Capital and 10 Other Investors

Tidemark (2010, Redwood City, $105M)SaaS Corporate Performance ManagementSoonicorn. Stage: Series D

Marlin Equity Partners, Workday, Greylock Partners and 4 Other Investors

Rocket Software (1990, Waltham, $91.9M)Enterprise Performance Management and BI PlatformSoonicorn. Stage: Funded

Comvest Partners

https://tracxn.com/companies/m3v3pxhzZ4TFlhp8eOurYHbQrR0qnlZ_eG4zhOAsMxU/anaplan.com

https://tracxn.com/companies/JYEtbCy-dIQwY4gieIu9_QMnSrKQMWwT7aAeTtggCEw/adaptiveinsights.com

https://tracxn.com/companies/0w3PystSmQx5CQJEJQr55Dsix5fvTQL5k4ZXtCCQnbI/tidemark.com




20



Suite

Host Analytics (2000, Redwood City, $71.7M)Cloud Enterprise Performance ManagementSoonicorn. Stage: Series E

Advanced Technology Ventures, Next World Capital, StarVest Partners and 4 Other Investors

Applix (1983, Westborough)Business performance management solutionStage: Acquired


Tagetik (1986, Lucca)Corporate Performance ManagementStage: Acquired

Treasury Management

Kyriba (2000, San Diego, $159M)Treasury automation and risk managementSoonicorn. Stage: Series E

Sumeru Equity Partners, Bpifrance, Iris Capital and 9 Other Investors

SunGard (1982, Wayne)Enterprise SoftwareUnicorn. Stage: Acquired

GE Capital, HarbourVest Partners, AlpInvest Partners and 3 Other Investors

Pelican (1993, London)Provider of AI-solutions in payments/compliance processes for banks and corporates. Soonicorn. Stage: Unfunded

US Dataworks (1997, Sugar Land)Multi-channel payment processing & clearing solutionsStage: Public

Equity Administration

Certent (2002, Pleasanton, $35.9M)Equity compensation and financial compliance software provider. Soonicorn. Stage: Series D

Western Alliance Bancorporation

Solium (1999, Calgary)Cloud-based equity compensation administration software and services provider. Stage: Public

https://tracxn.com/companies/joWbc1YPqXxUuHfN6UPhLmKVAyDy1rjlT1eekQjC3bg/hostanalytics.com

https://tracxn.com/companies/aFIWEE72Hb01Mm09vgbfcBgKztETkLEqZtA-kf7OrIM/kyriba.com

https://tracxn.com/companies/Z1Df58PyQ7kfZpP4AtJHz17J2i-zlszTftTjH5DmJyc/sungard.com




21


Accounting Enablers

Collaboration Software

MYOB BankLink (1986, Auckland)Provider of software for automatically providing financial transaction data from banks. Stage: Acquired

Practice Management for Accounting Firms

Wolters Kluwer (1836, The Hague)Suites for Legal office management and accounting firms. Unicorn. Stage: Funded

MMF Capital

Data Digitization

Commerce Sync (2005, Denver, $12.8M)Accounting software to keep track of financial health of the businessSoonicorn. Stage: Series A

Intel Capital, Meritage Funds, Camp One Ventures and 3 Other Investors

https://tracxn.com/companies/kuE6gW72whqomWXWG5GYcDVv-GK0nCkNOM_RxGYWs4E/commercesync.com




22


Accounting Enablers

B2B Payments

Electronic Clearing House (1981, Camarillo)End-to-end payment processing solutions. Stage: Acquired

Bank of the West

IPay Technologies (2001, Elizabethtown)Online bill pay serviceStage: Acquired

Bain Capital Ventures, Spectrum Equity

Subscription Billing

GoCardless (2011, London, $47.5M)Online payments solutions for recurring paymentsSoonicorn. Stage: Series C

Accel Partners, Balderton Capital, Notion Capital and 8 Other Investors

Cerillion Skyline (1999, London, $9M)Subscription billing, charging and CRM solution provider. Stage: Public

Digital, Baird Capital

Cleverbridge (2005, Cologne)Global full-service e-commerce and subscription management solution providerSoonicorn. Stage: Unfunded

FastSpring (2005, Santa Barbara)Digital e-commerce payment, merchandising and fulfillment solutionSoonicorn. Stage: Acquired

Pylon Capital, Bill 95, The Cambria Group


Digital River (1994, Minnetonka)Global commerce, marketing and payments solutions provider. Stage: Acquired

Earlybird Venture Capital, Capital Southwest

https://tracxn.com/companies/lRCypQ0EMQo_IlmE-RNGctbJWJQe1eTr9xw9pUU6UFI/gocardless.com


List of Notable Companies in Finance & Accounting in China

Notable Companies in the Sector in China

23

Finance & Accounting > Feed Summary > Notable Companies in the Sector in China

Public

Sinosoft(1998, Nanjing)

Soonicorns

Gongziqianbao(2015, Shanghai, $30M)


Recent News in Finance & Accounting Sector

Recent News

24

Finance & Accounting > Feed Summary > Recent News

Jan 2018Priority Software Expands Offering to Small Businesses, Acquires US-based Acclivity, PR Newswire

Jan 2018 Vertex Announces Salesforce Integrations, Business Wire

Jan 2018 Summit Partners Recaps Vista-backed Trintech, Citybizlist

Jan 2018Ryan Launches Exemption Certificate Management Outsourcing Service, PR Newswire

Jan 2018Kyriba Recognized as a Leader in IDC MarketScape for Worldwide Treasury and Risk Management Applications, Business Wire

Jan 2018Tradeshift Partners with Infosys to Help Clients Digitize Supply Chain Management, Finovate

Jan 2018HighRadius Welcomes 2018 with a New Website for Credit and Accounts Receivable Professionals in the United Kingdom, PRWeb

Jan 2018SAP Concur Brings Continued Innovation and Connected Experiences to Global Customers, PR Newswire

Dec 20172018 Payroll Software for Small Business Released by PayrollMate.com, DirectorsTalk Interviews

Dec 2017Phenom People Updates Status; is Now Workday Certified Solution Partner, Technology-Signals

Dec 2017 Rcom Deal To Bring Synergies For Jio's Biz: Morgan Stanley, btvi.in

Dec 2017Drillisch Reorganises Sales Structure of yourfone Brand, Sector Publishing Intelligence

Dec 2017Bill Requires New Federal Websites to be Mobile-friendly, Wireless Week

Key Recent News Key Recent News

Dec 2017Wolters Kluwer N.V.: Share Buyback Transaction Details December 21 - 27, 2017, GlobeNewswire

Dec 2017Glantus Limited Announces Strategic Partnership with Castleton Plc, ePRNews

Dec 2017IBSFintech wants $4 million in Series A, eyes South-East Asia, Middle East, Indiatimes

Dec 2017Solium Chairman Adopts Automatic Securities Disposition Plan, CNW

Dec 2017 Salarium to raise $20M via cryptocurrency sale, Inquirer

Dec 2017 Verizon Awards WEX A Three-year Fleet Card Contract, Trillions

Dec 2017 Simeno acquired by Silicon Valley company, Startupticker

Dec 2017KDS : Awarded Silver Accreditation by “Investors in People”, 4-Traders

Dec 2017Providence Equity-backed AbacusNext Acquires Commercial Logic, Citybizlist

Dec 2017LS telcom expands cooperation on LoRa software tools with Digita, RealWire

Dec 2017 Fortino invests €20m in MobileXpense, Real Deals


Dec 2017 Tally launches Xcelerators for SMEs, Deccan Herald

Dec 2017 Ivalua Appoints Chief Financial Officer, Business Wire

https://www.prnewswire.com/news-releases/priority-software-expands-offering-to-small-businesses-acquires-us-based-acclivity-668004233.html

https://www.businesswire.com/news/home/20180103005273/en

http://boston.citybizlist.com/article/458985/summit-partners-recaps-vista-backed-trintech

https://www.prnewswire.com/news-releases/ryan-launches-exemption-certificate-management-outsourcing-service-300577101.html

https://www.businesswire.com/news/home/20180103005374/en/Kyriba-Recognized-Leader-IDC-MarketScape-Worldwide-Treasury

http://finovate.com/tradeshift-partners-infosys-help-clients-digitize-supply-chain-management/

http://www.prweb.com/releases/2018/01/prweb15048731.htm

https://www.prnewswire.com/news-releases/sap-concur-brings-continued-innovation-and-connected-experiences-to-global-customers-300574839.html

https://www.directorstalkinterviews.com/2018-payroll-software-for-small-business-released-by-payrollmate-com/412742823

http://technology-signals.com/phenom-people-updates-status-is-now-workday-certified-solution-partner/

http://www.btvi.in/article/read/industry/48064/rcom-deal-to-bring-synergies-for-jio-s-biz--morgan-stanley

http://sectorpublishingintelligence.co.uk/news/1864524/drillisch reorganises sales structure of yourfone brand

https://www.wirelessweek.com/news/2017/12/bill-requires-new-federal-websites-be-mobile-friendly

http://globenewswire.com/news-release/2017/12/28/1275634/0/en/Wolters-Kluwer-N-V-Share-Buyback-Transaction-Details-December-21-27-2017.html

https://eprnews.com/glantus-limited-announces-strategic-partnership-with-castleton-plc-280970/

https://timesofindia.indiatimes.com/venture-capital/ibsfintech-4mn-series-a/articleshow/62268451.cms

http://www.newswire.ca/news-releases/solium-chairman-adopts-automatic-securities-disposition-plan-666777043.html

https://business.inquirer.net/243118/salarium-raise-20m-via-cryptocurrency-sale

http://www.trillions.biz/news/142829-verizon-awards-wex-a-threeyear-fleet-card-contract.html

http://startupticker.ch/en/news/december-2017/simeno-acquired-by-silicon-valley-company

http://4-traders.com/news/KDS-Awarded-Silver-Accreditation-by-ldquo-Investors-in-People-rdquo--25712121

http://newyork.citybizlist.com/article/458217/providence-equity-backed-abacusnext-acquires-commercial-logic

http://realwire.com/releases/LS-telcom-expands-cooperation-on-LoRa-software-tools-with-Digita

https://realdeals.eu.com/news/2017/12/21/fortino-invests-e20m-mobilexpense/


http://www.deccanherald.com/content/649140/tally-launches-xcelerators-smes.html

http://businesswire.com/news/home/20171220005280/en/Ivalua-Appoints-Chief-Financial-Officer


Contents

Feed Summary

Investment Trends

Market Details

Exit Outlook

Investors

News

Appendix

25

Funding Trends

Median Deal Size and Trend

New Entrants in Funding Club

Distribution of companies by Funding Range

Funding Funnel of the Sector

Top Investments and Investors

Investors in Unicorn club

Some more Sector Reports you might want to check out

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$355M$462M

$723M

$1.0B

$1.6B

$1.2B

$1.4B

0

20

40

60

80

100

120

140

160

$0k

$200M

$400M

$600M

$800M

$1.B

$1.2B

$1.4B

$1.6B

$1.8B

2011 2012 2013 2014 2015 2016 2017 2018*

$ Funding # Rounds

3 Year CAGR

6 Year CAGR

Investments ($M) and number of rounds in Finance & Accounting; 2011-2017

Global Funding Trends (1/2)

27

Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies

*YTD

Finance & Accounting > Investment Trends > Global Funding Trends

# R

ou

nd

s$

Fu

nd

ing

26% $ Funding

12% $ Funding

12% # of Rounds

3% # of Rounds


20 37 48 65 65 65 42

22

28 19 37 43 51

56

19 12 17 28 30

26

21

2011 2012 2013 2014 2015 2016 2017 2018 YTD

Seed Early Stage Late Stage

61

0

Total # of Rounds

$18M $22M $24M $47M $38M $40M $84M

$134M

$187M$118M

$291M $550M $328M

$574M

$203M $252M $581M $683M $1.B $805M $779M

2011 2012 2013 2014 2015 2016 2017 2018 YTD

Seed Early Stage Late Stage

$131M

$294M

$570M

$757M

$1.3B

$832M

$1.1B

$0K0

5

10

15

20

25

0

200000000

400000000

600000000

800000000

1E+09

1.2E+09

1.4E+09

2011 2012 2013 2014 2015 2016 2017 2018 YTD

$ Funding # of Rounds

28

Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies

Stage-wise Number of RoundsStage-wise $ Invested

New Entrants in Funded ClubMega Rounds

Global Funding Trends (2/2)

Investments ($M) and number of rounds in Finance & Accounting; 2011-2017

Finance & Accounting > Investment Trends > Global Funding Trends

2635

40

59

59

61

41 321

$2.6M

$2.5M

$0.0M

$1.0M

$2.0M

$3.0M

$4.0M

$5.0M

$6.0M

0

50

100

150

200

250

300

350

2001-2011 2012 2013 2014 2015 2016 2017 Total

Entrants in Funding Club Avg. Ticket Size

4 9 11 19 20 15 22 - $2.6M $1.6M $2.2M $2.4M $1.4M $2M $5.7M $2.5M

$355M

$0K

Total $ Invested


Finance & Accounting > Investment Trends > Funding Trends by Geography

Investments ($M) and number of rounds in Finance & Accounting

Funding Trends by Geography

Funding Trends by Geography Top Cities of Funding

City $ Funding # Rounds

Bay Area 4B 237

Charlotte 560M 12

New York City 336M 47

Bainbridge Island 311M 14

Toronto 220M 23

Woodland Hills 220M 1

Atlanta 181M 11

London 178M 41

San Diego 165M 15

Denver 154M 12

Total Funding

599

222

57

26

31

14

7

25

# Rounds

$7.1B

$650M

$319M

$98.5M

$97.6M

$73.4M

$58.3M

$27.4M

US

Europe

Canada

Australia

India

Japan

Israel

Latam

Note: Excludes funding information of China companies


Trend of Average Deal Size ($M)

$1.1 $0.9 $0.6$0.9 $0.8 $0.9

$2.3

2011 2012 2013 2014 2015 2016 2017

$4.8

$8.6 $8.6 $7.3$6.2

$4.8 $4.4

$10.3 $9.2 $10.7 $11.4

$34.4

$14.9

$24.6

$13.5 $21.0

$41.5 $34.1$43.5 $47.4

$59.9

Finance & Accounting > Investment Trends > Median Deal Size and Trend

Median and Average Deal Size in $M (per Stage) in Finance & Accounting; 2011-2017

Median Deal Size and Trend

Note: Excludes funding information of Chinese companies. *Graph not to scale

Median Deal Size and Range

$5K* $11M

$50K $31M

$92K $80M

$50K $1B

$22M

$7M

$2.8M

$0.3M

Series C+

Series B

Series A

Seed

Stage


Note: 271 companies with undisclosed funding amount are not included

31

<$1M

$1-10M

$10-50M

$50-100M

$100M+

Funding Range

96

161

81

21

24

No. of Companies

Finance & Accounting > Investment Trends > Distribution of companies by Funding Range

No. of companies by funding range in Finance & Accounting; as of Jan 2018

Distribution of companies by Funding Range

$34M

$556M

$1.9B

$1.4B

$5.1B

$ Investment


Stage No. of CompaniesFunding Funnel

100%

23%

10%

5%

3%

32

Note: Numbers in the brackets show the count of companies

Time to raise next round

93

153

276

644

2840

Series C+

Series B

Series A

Funded

Founded

Next Round

100M+Valuation

ExitsAcqui-Hired

DeadPooled

Others

23% 3%(89)

2%(54)

6%(167)

3%(87)

68%(1942)

43% 13%(81)

7%(48)

13%(86)

1%(7)

43%(275)

55% 18%(49)

6%(17)

17%(46)

0%(1)

28%(76)

61% 31%(47)

10%(16)

14%(21)

1%(1)

25%(38)

- 46%(43)

14%(13)

19%(18)

- -

Finance & Accounting > Investment Trends > Funding Funnel

Number of companies progressing to subsequent funding stages in Finance & Accounting

Funding Funnel

18 Months

22 Months

21 Months

Investment backedBootstrapped

32

12

18

30

3

3

Soonicorns

Unicorns

Acquisitions

IPOs


Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)

Finance & Accounting > Investment Trends > Notable Investments in last 24 months

Major funding rounds by Stage in Finance & Accounting; Jan 2016-Jan 2018

Notable Investments in last 24 months (1/6)

LATE STAGE

$300M - Series F Jun 2017AvidXchange (2000, Charlotte, $560M)Accounts payable and payment automation solutions

MasterCard, Caisse de depot et placement du Quebec, Temasek

$115M - PE Oct 2016PaySimple (2006, Denver, $137M)Online Payment and Invoicing for small business

Providence Equity Partners

$100M - Series G Sep 2017Bill.com (2006, Palo Alto, $259M)Provider of cloud-based payables and receivables payment solutions.

JPMorgan Chase & Co., Temasek

$90M - Series E Jan 2016Anaplan (2006, San Francisco, $300M)SaaS Corporate Performance Management Platform

Baillie Gifford, Founders Circle Capital, Harmony Partners, Premji Invest

LATE STAGE

$90M - Series C Oct 2016Gusto (2011, San Francisco, $176M)Cloud-based HRMS and payroll management solution

$88M - Series D Sep 2016Apttus (2006, San Mateo, $329M)CRM SaaS Pricing, Quoting, and Contracts

Gulf Islamic Investments

$75M - Series D Jun 2016Tradeshift (2009, San Francisco, $266M)Collaboration, electronic invoicing and dynamic discounting solution

Data Collective, HSBC Group, American Express, CreditEase, Pavilion Capital Partners

$60M - PE Oct 2016Capital Confirmation (2000, Brentwood, $63M)Online audit confirmation solution provider.

Great Hill Partners

LATE STAGE

$60M - Series F Dec 2017Anaplan (2006, San Francisco, $300M)SaaS Corporate Performance Management Platform

Top Tier Capital Partners

$55M - Series E Sep 2017Apttus (2006, San Mateo, $329M)CRM SaaS Pricing, Quoting, and Contracts

Premji Invest

$50M - Series F Sep 2016Avalara (2004, Bainbridge Island, $311M)Cloud-based Taxation Service

Arthur Ventures

$50M - Series E Feb 2016Aria (2003, San Francisco, $150M)Subscription Billing & Management Software

Hercules Capital

$50M - Series D May 2017Billtrust (2001, Mercerville, $105M)B2B and B2C payment cycle management solutions

Riverwood Capital






LATE STAGE

$50M - Series C Sep 2017HighRadius (2006, Houston, $50M)Cloud-based accounts receivable solution provider

Susquehanna Growth Equity

$46M - Series E Jan 2016Taulia (2009, San Francisco, $137M)Electronic invoicing and dynamic discounting solution.

$45M - Series E Sep 2017Kyriba (2000, San Diego, $159M)Treasury automation and risk management

Sumeru Equity Partners

$42M - Series C Aug 2017EShares (2012, Palo Alto, $67.8M)SEC-registered Transfer Agent for private companies

Menlo Ventures, Social Capital

$33M - Series C Mar 2016Justworks (2012, New York City, $53M)Online payroll and benefits platform

Redpoint Ventures

LATE STAGE

$30M - Series E Apr 2016Transactis (2001, New York City, $61.7M)White label for bill payments

Fifth Third Bancorp, PNC Financial Services Group, Wells Fargo, Capital One Growth Ventures

$24M - Series D May 2017Wave Accounting (2009, Toronto, $86.3M)SaaS Accounting for SMBs and personal finance management.

National Australia Bank, Royal Bank of Canada, Portag3 Ventures

$23M - Series D Sep 2016Kyriba (2000, San Diego, $159M)Treasury automation and risk management

Bpifrance

$22.5M - Series C Sep 2017GoCardless (2011, London, $47.5M)Online payments solutions for recurring payments

LATE STAGE

$20M - Series D Feb 2016Tradeshift (2009, San Francisco, $266M)Collaboration, electronic invoicing and dynamic discounting solution

$18M - Series E Sep 2017Aria (2003, San Francisco, $150M)Subscription Billing & Management Software

$14.6M - Series D Oct 2016Wave Accounting (2009, Toronto, $86.3M)SaaS Accounting for SMBs and personal finance management.

$13M - Series C Mar 2016GoCardless (2011, London, $47.5M)Online payments solutions for recurring payments

Notion Capital

$10M - Series C Nov 2017Viewpost (2012, Maitland, $89.5M)eInvoicing and online payment solution.






LATE STAGE

$6.7M - Series C Mar 2016Wave Accounting (2009, Toronto, $86.3M)SaaS Accounting for SMBs and personal finance management.

BDC Capital

$2.5M - Series F Nov 2017AvidXchange (2000, Charlotte, $560M)Accounts payable and payment automation solutions

PE Jul 2016Tidemark (2010, Redwood City, $105M)SaaS Corporate Performance Management

Marlin Equity Partners

Series D Jan 2017Tradeshift (2009, San Francisco, $266M)Collaboration, electronic invoicing and dynamic discounting solution

Wipro

LATE STAGE

Series D Dec 2016Tradeshift (2009, San Francisco, $266M)Collaboration, electronic invoicing and dynamic discounting solution

Santander InnoVentures

Series D Dec 2016Kyriba (2000, San Diego, $159M)Treasury automation and risk management

Mitsubishi UFJ Capital

Series D Aug 2017Billtrust (2001, Mercerville, $105M)B2B and B2C payment cycle management solutions

KeyBank

Series D Jan 2016C2FO (2008, Fairway, $97.7M)Provides platform for cash flow optimization between business and suppliers

Citi

EARLY STAGE

$70M - Series B Apr 2017Ivalua (2000, Redwood City, $73M)Procure-to-Pay Automation

Kohlberg Kravis Roberts

$50M - Series B Jul 2017Receipt Bank (2011, London, $65M)Invoice data extraction software.

Insight Venture Partners

$43M - Series B Jul 2017FreshBooks (2003, Toronto, $73M)SaaS Accounting Application for SMBs

$42M - Series B Oct 2017GTreasury (1986, Lake Zurich, $42M)Treasury management system provider

Mainsail Partners

$30M - Series B Jul 2016Vena Solutions (2011, Toronto, $36M)Corporate Performance Management

Centana Growth Partners






EARLY STAGE

$28M - Series B Oct 2016Nexus Systems (1999, Falls Church, $28M)Accounts payable automation

Mainsail Partners

$25M - Series B Aug 2017TravelBank (2015, San Francisco, $35M)Cloud-based expense management Android and iOS app for SMBs

DCM Ventures, Propel Venture Partners, Silicon Valley Bank, Danhua Capital

$25M - Series B Jun 2017FloQast (2013, Los Angeles, $33M)SaaS month end Account Management for SMBs


$25M - Series B Jul 2017Rimilia (2008, Bromsgrove, $25M)Robotic process automation based account receivable management.

Kennet Partners, Eight Roads Ventures

EARLY STAGE

$23.8M - Series B May 2016BOARD Italia (1994, Chiasso, $23.8M)Corporate Performance Management software.

Grafton Capital

$23.7M - Series B Dec 2017MobileXpense (2001, Brussels, $23.7M)Saas for corporate expense management

Fortino Capital

$22M - Series B Nov 2017TrueAccord (2013, San Francisco, $27.3M)Behaviorial Analytics based debt recovery solutions.

Arbor Ventures, Assurant, Felicis Ventures, TenOneTen, Caffeinated Capital

$20M - Series B Feb 2017VATBox (2012, Herzliya, $50M)VAT Refund Automation

Target Global

EARLY STAGE

$20M - Series B Mar 2017Canopy (2014, Lehi, $30M)Tax resolution and practice management software provider for tax professionals.

Pelion Venture Partners

$18M - Series B Nov 2016AvidXchange (2000, Charlotte, $560M)Accounts payable and payment automation solutions

Fifth Third Bancorp

$17.2M - Series B Jul 2017Karmic Labs (2014, San Francisco, $24.9M)Saas to manage cash flow and expenses for a business

Alsop Louie Partners, Arbor Ventures, Marketplace Fund, Startup Capital Ventures

$14M - Series B Sep 2016Tipalti (2010, Palo Alto, $27M)Automated online mass payment system and account payable platform.

SGVC






EARLY STAGE

$10M - Series B Dec 2017Happay (2012, Bangalore, $17.7M)Cloud based business expense management solution

Axiom Capital Management, AME Cloud Ventures

$10M - Series B Feb 2016Nexonia (2002, Toronto, $14.2M)Software provider for accounting modules like expenses, accounts payable.

$10M - Series A Feb 2016Receipt Bank (2011, London, $65M)Invoice data extraction software.

Kennet Partners

$10M - Series A Oct 2016TravelBank (2015, San Francisco, $35M)Cloud-based expense management Android and iOS app for SMBs

New Enterprise Associates, Accel Partners

$7.4M - Series B Feb 2017Bexio (2008, Rapperswil, $12.2M)Online business management software for SMBs

Swisscom

EARLY STAGE

$7M - Series A Nov 2016Procurify (2011, Vancouver, $12.6M)Procure-to-Pay Automation for SMBs

Runa Capital

$6.5M - Series A Mar 2016FloQast (2013, Los Angeles, $33M)SaaS month end Account Management for SMBs

Polaris Partners

$5.2M - Series A Aug 2016Zervant (2010, Espoo, $8.7M)Invoicing and time tracking for SMBs

Northzone

$4M - Series A Feb 2016Aplos (2009, Fresno, $7.4M)Tools to manage books, donors, and members of nonprofits organizations

San Joaquin Capital

EARLY STAGE

$2.2M - Series A Nov 2017ChartMogul (2014, Berlin, $3.7M)Recurring Revenue Analytics for Subscription Businesses

Alven

Series A Jan 2016Commerce Sync (2005, Denver, $12.8M)Accounting software to keep track of financial health of the business

Intel Capital, Meritage Funds, Camp One Ventures, Augury Capital Partners, Service Provider Capital

Series A Feb 2016Jurnal (2014, Jakarta)Cloud based accounting for SMEs

Fenox Venture Capital






SEED STAGE

$20M - Seed May 2017Nibo (2012, Rio De Janeiro, $20M)Cloud-based financial management software.

Vostok Emerging Finance

$2M - Seed Dec 2017Wagepoint (2012, Kitchener, $4M)SaaS payroll application for SMBs

Timia Capital

$1M - Seed Dec 2016Symend (2016, Calgary, $1M)Cloud-based solutions for debt recovery.

Seed Jul 2016Salarium (2013, Manila, $500k)Cloud based payroll management

Future Now Ventures



Finance & Accounting > Investment Trends > Notable Investments in last 24 months in China


Notable Investments in last 24 months in China

EARLY STAGE

$30M - Series B Jul 2016Gongziqianbao (2015, Shanghai, $30M)Online wallet and payroll management application

$22M - Series B Dec 2016Hsuanzhang (2014, Beijing, $22M)Online financial and tax services provider for

enterprises

IDG Capital Partners, Sichuan Development Financing Guarantee, China Soft Capital Group


Most Active Investors (VC, PE) by Stage in Finance & Accounting; Last 5 years (Jan 2013-Jan 2018)

Most Active VC & PE Investors

40


Finance & Accounting > Investment Trends > Most Active VC & PE Investors

SEED STAGE

Y Combinator (14 Investments)Abacus, Plate IQ, Payable

1

Kima Ventures (4 Investments)EShares, ExpenseBot, Spendesk

2

SixThirty (4 Investments)Assembly, DAVO Technologies, Cheddar

3

Draper Associates (3 Investments)EShares, Capshare, Karmic Labs

4

Point Nine Capital (3 Investments)Procurify, ChartMogul, Candis

5

Seedcamp (3 Investments)Pleo, Cardlife, Fractal Labs

6

Anthemis Group (2 Investments)Bento, Fluidly

7

Bloomberg Beta (2 Investments)AppZen, Stampli

8

Blumberg Capital (2 Investments)Bento, Bold

9

Creandum (2 Investments)Bokio, Pleo

10

EARLY STAGE

Accel Partners (5 Investments)Chargebee, Invoice2go, Payfit

1

Arbor Ventures (3 Investments)TrueAccord, Karmic Labs, Accounting SaaS Japan

2

Bain Capital Ventures (3 Investments)AvidXchange, Justworks, Bench

3

Emergence Capital (3 Investments)SteelBrick, Replicon, Gusto

4

Greycroft Partners (3 Investments)Recurly, Karmic Labs, LumaTax

5

Insight Venture Partners (3 Investments)Receipt Bank, FloQast, Ministry Brands

6

Eight Roads Ventures (2 Investments)Rimilia, Accounting SaaS Japan

7

First Analysis (2 Investments)StreamLink Software, BuyerQuest

8

Kennet Partners (2 Investments)Receipt Bank, Rimilia

9

Kibo Ventures (2 Investments)Captio, Billin

10

LATE STAGE

Meritech Capital Partners (3 Investments)Anaplan, Coupa, Hybris

1

Bain Capital Ventures (2 Investments)Chrome River, Aria

2

Luminate Capital Partners (2 Investments)Oversight, Fintech

3

Northgate Capital (2 Investments)Zuora, Coupa

4

Tiger Global Management (2 Investments)C2FO, ContaAzul

5

83NorthHybris

6

Accel-KKRSiigo

7

Alpine InvestorsBill4Time

8

Arthur VenturesAvalara

9

Battery VenturesIntacct

10


Finance & Accounting > Investment Trends > Most Active Ecosystem Investors

Top Ecosystem Investors in Finance & Accounting; Last 5 years (Jan 2013-Jan 2018)

Most Active Ecosystem Investors

INCUBATOR

500 Startups (13 Investments)inDinero, AuditFile, AppZen

1

Techstars (10 Investments)Bokio, YayPay, ExpenseBot

2

Barclays Accelerator (3 Investments)Dopay, Cashforce, Tallysticks

3

BlueChilli (3 Investments)Shoeboxed, CurrencyVue, TrusTill

4

Boost VC (3 Investments)AuditFile, Libra, Checkbook

5

Startup Sauna (3 Investments)eTasku, Clerk.AI, Rephop

6

Jumpstart (2 Investments)StreamLink Software, ExpenseBot

7

MEST (2 Investments)Amplify, Paysail

8

Prime Venture Partners (2 Investments)Happay, Niyo Solutions

9

Speedinvest (2 Investments)Pleo, Candis

10

OTHER NOTABLE INVESTORS

FundersClub (7 Investments)Abacus, AppZen, Sourcery

1

BDC Capital (6 Investments)Wave Accounting, Klipfolio, Procurify

2

Plug and Play Tech Center (6 Investments)PowerPlan, TrueAccord, Bento

3

Salesforce (5 Investments)Anaplan, Apttus, SteelBrick

4

Fifth Third Bancorp (4 Investments)Bill.com, AvidXchange, Transactis

5

Ribbit Capital (4 Investments)Gusto, Invoice2go, Parasut

6

SaaS Capital (4 Investments)inDinero, FreeAgent, Webgility

7

Startupbootcamp (4 Investments)InvoiceSharing, Eccentrade, BanhJi

8

Technology Crossover Ventures (4

Investments)Avalara, FinancialForce, Xero

9

American Express (3 Investments)Bill.com, Tradeshift, Sage Group

10

DEBT INVESTORS

Silicon Valley Bank (6 Investments)Bill.com, Tidemark, Nvoicepay

1

BEST Funds (2 Investments)Delego, Necho System

2

Crystal FinancialModel N

3

Finance BirminghamSynapse Information

4

Hercules CapitalAria

5

Leader VenturesInterlace Systems

6

MidCap FinancialAdvicent Solutions

7

PMVVirteo

8

Wellington FinancialNecho System

9


Finance & Accounting > Investment Trends > Investors in Unicorn club

Investors in Unicorn Club (1/6)


Finance & Accounting > Investment Trends > Unicorn Investors in the Sector

Unicorn Investors in the Sector


Contents

Feed Summary

Investment Trend

Market Details

Exit Outlook

Investors

News

Appendix

49

BlueBox

Key Sub Sectors

Detailed Sector Taxonomy

Top Markets of Investment Activity

Top Markets of Early Stage Investors

Other Notable Markets

Market Deep Dive



Logistics TechNov 2017

RealEstate TechNov 2017

Local ServicesNov 2017

https://tracxn.com/reports/ZvW3RtFLZiLRzLG8vsL7mw/Logistics Tech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Market Details&utm_medium=Mktg-Page-Logistics-Tech-Report&utm_campaign=Logistics-Tech-Report-Button&utm_content=Download

https://tracxn.com/reports/Y7DtI2ZvMNluqU4G8HbKww/RealEstate Tech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Market Details&utm_medium=Mktg-Page-RealEstate-Tech-Report&utm_campaign=RealEstate-Tech-Report-Button&utm_content=Download

https://tracxn.com/reports/hcVP3yt63YmuIiQoRLVF9w/Local Services Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Market Details&utm_medium=Mktg-Page-Local-Services-Report&utm_campaign=Local-Services-Report-Button&utm_content=Download

https://blog.tracxn.com/request-for-demo?utm_source=Finance-&-Accounting-Report-Market Details&utm_medium=Mktg-Page-Demo&utm_campaign=Finance-&-Accounting-Demo-Button&utm_content=Demo


January 2018Tracxn BlueBox – Finance & Accounting

51

Finance & Accounting > Market Details > BlueBox


Key Sub Sectors

52

Key Sub Sectors in Finance & Accounting

Market Top Companies# Cos

Tracked#

FundedTotal

Funding

Accounting SolutionsCompanies providing financial accounting related solutions such as bookkeeping, invoicing, tax, and payroll software

Wright Express (1983, South Portland, Public)AvidXchange (2000, Charlotte, $560M)

2140 437 $7.2B

Financial ManagementCompanies offering various financial planning tools for valuation, forecasting, and other corporate performance indicators

Arcplan (1993, Wayne, Acquired)Anaplan (2006, San Francisco, $300M)

361 108 $1.4B

Accounting EnablersCompanies offering solutions to enable/optimize the accounting processes

Vindicia (2003, Redwood City, Acquired)Receipt Bank (2011, London, $65M)

329 97 $419M

Finance & Accounting > Market Details > Key Sub Sectors


Detailed Sector Taxonomy (1/5)

53

Finance & Accounting > Market Details > Detailed Sector Taxonomy



54




55




56




57



Rank MarketLast 2 Years

$ Invested # Round Top Funded Company

1(+8)

Accounting Solutions > Invoice Management > PayablesCompanies automating invoice management and payments on the buyer side(Companies covered 66 | Funded 17 | Total Funding $678M)

$360M(+$90.5M)

11(+4)


2(-)

Accounting Solutions > Accounting Suite > SMBCompanies providing accounting suite software with the focus on SMBs(Companies covered 378 | Funded 44 | Total Funding $399M)

$146M(+$7.2M)

17(-1)

FreshBooks(2003, Toronto, $73M)

3(+4)

Accounting Solutions > Expense Management > Expense Tracking SoftwareCompanies offering software for tracking and reporting employee's expenses(Companies covered 179 | Funded 52 | Total Funding $182M)

$102M(+$61.6M)

28(+2)

TravelBank(2015, San Francisco, $35M)

4(+14)

Financial Management > Treasury ManagementCompanies offering solutions to manage a firm's liquidity and mitigating the operational, financial and reputational risk(Companies covered 62 | Funded 20 | Total Funding $267M)

$127M(+$101M)

12(+9)

Kyriba(2000, San Diego, $159M)

5(-4)

Accounting Solutions > Invoice Management > Payables & ReceivablesCompanies automating the entire invoicing process for both payables and receivables(Companies covered 117 | Funded 22 | Total Funding $457M)

$168M(+$26.8M)

11(-4)

Bill.com(2006, Palo Alto, $259M)

6(+4)

Financial Management > SuiteCompanies offering analytics software for effective reporting and performance management(Companies covered 70 | Funded 24 | Total Funding $844M)

$218M(-$38.8M)

10(+4)

Anaplan(2006, San Francisco, $300M)

7(+8)

Accounting Solutions > Invoice Management > Receivables > CollectionsCompanies automating/improving the collection process(Companies covered 180 | Funded 43 | Total Funding $318M)

$60.5M(+$49M)

20(+9)

TrueAccord(2013, San Francisco, $27.3M)

58

Note: The numbers in the bracket represent the change in a 2 year period.

Top Markets of Investment Activity (1/3)

Top Markets by Funding in Finance & Accounting in last 2 years (January 2016 - December 2017)

Finance & Accounting > Market Details > Top Markets of Investment Activity


Rank Market # Investments Key Investments

1Accounting Solutions > Expense Management > Expense Tracking SoftwareCompanies offering software for tracking and reporting employee's expenses(Companies created 179 | Funded 52 | Total Funding $182M )

2AppZen (2012, Sunnyvale, $17.5M)

TravelBank (2015, San Francisco, $35M)

2Accounting Solutions > Payroll Management > Payroll SoftwareCompanies providing software to manage employee payroll, taxes and reimbursements(Companies created 98 | Funded 18 | Total Funding $384M )

1 Payfit (2015, Paris, $21.5M)

3

Accounting Enablers > Collaboration SoftwareCompanies offering software that help accountants and their clients to collaborate and share financial documents(Companies created 23 | Funded 5 | Total Funding $25.2M )

1 Silverfin (2013, Ghent, $4.5M)

4Accounting Enablers > Data DigitizationCompanies offering software or service to digitize paper-based invoices.(Companies created 71 | Funded 23 | Total Funding $139M )

1 Commerce Sync (2005, Denver, $12.8M)

5Accounting Solutions > Taxation > Tax SoftwareCompanies offering software to calculate and file taxes online to businesses(Companies created 106 | Funded 17 | Total Funding $402M )

1 OnlinePajak (2013, Jakarta, $0)

Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures

61

Top Markets of Early Stage InvestorsTop Markets where Early Stage Investors are investing in last 2 years (January 2016 - December 2017)

Finance & Accounting > Market Details > Top Markets of Early Stage Investors


Incubators UpWest Labs (#1), Speedinvest (#1)

Seed Boathouse Capital (#1), Piedmont Angel Network (#1)

Series A/B Fifth Third Bancorp (#1), Pivot Investment Partners (#1)

Series C+MasterCard (#1), Caisse de depot et placement du Quebec (#1)

Bottomline Technologies Feb - 1999

IPO'd on NASDAQ

$2.5M - Series FAvidXchange (2000, Charlotte, $560M)

$300M - Series FAvidXchange (2000, Charlotte, $560M)

$4.5M - Series ABeanworks (2012, Vancouver, $4.7M)

$2.3M - SeedStampli (2014, Givat Shmuel, $2.3M)

Series ACandis (2015, Berlin, $1.1M)

$18M - Series BAvidXchange (2000, Charlotte, $560M)

$10M - Series BNvoicepay (2009, Beaverton, $21.1M)

$14M - Series BTipalti (2010, Palo Alto, $27M)

$5M - Series ASourcery (2012, San Francisco, $7.5M)

$2.5M - SeedPaymentWorks (2013, Cambridge,

$2.5M)

$1.1M - SeedCandis (2015, Berlin, $1.1M)

Dec 2017CloudTrade Launches Cloud Capture to Manage the Long-tail, Financial IT

Dec 2017Mitie : and CloudTrade partner to deliver end-to-end invoice processing, 4-Traders

Dec 2017 Nvoicepay Names John Ewert Chief Financial Officer, PRWeb

Nov 2017iPayables Achieves Breakout Business Results in CY’17, WebWire

Nov 2017AvidXchange™ Announces Site Selection for Expanded Operations in Sandy, Utah to Support Fast-Paced Workforce Growth, PR Newswire

Nov 2017Charlotte-based AvidXchange Raises Another $2.5M, Citybizlist

Nov 2017SignUp Software signs deal with SK Global, technologyrecord.com

Nov 2017Bottomline Technologies, Inc. 2018 Q1 - Results - Earnings Call Slides, Seeking Alpha

Nov 2017AvidXchange Receives Top Software Company Award from the North Carolina Technology Association, PressReleasePoint

Oct 2017Fifth Third joins Mastercard B2B hub powered by AvidXchange, Finextra

Sep 2017Tipalti launches new solution to monitor fraud across accounts payable platforms, Mobyaffiliates

Sep 2017AvidXchange to Add More Than 200 Jobs in Utah, Financial Opportunities Network

Aug 2017Tipalti introduces touchless invoice data capture, Accounting Today

News

0

1

2

3

4

5

6

7

$0k

$50M

$100M

$150M

$200M

$250M

$300M

$350M

2014 2015 2016 2017 2018

YoY Funding Rounds

1

2

11

17

66

M&A/IPO

Series C+

Series A+

Funded

CompaniesCovered

Funding Funnel

Accounting Solutions > Invoice Management > Payables: Market Factsheet

Market: Payables

62

Exits

Most Active Investors

Recent Investments

YoY Funding and Rounds

Companies automating invoice management and payments on the buyer side


Tipalti(2010, Palo Alto, $27M)

Nvoicepay(2009, Beaverton, $21.1M)

MineralTree(2010, Cambridge, $18.9M)

OpsTechnology(1999, San Francisco, $16M)

Top Companies

#1 Top Markets of Investment Activity

Finance & Accounting > Market Details > Market: Payables

Companies Created 66 | Funded 17 | Total Funding $678M

https://financialit.net/news/cloud/cloudtrade-launches-cloud-capture-manage-long-tail

http://4-traders.com/MITIE-GROUP-9590156/news/Mitie-and-CloudTrade-partner-to-deliver-end-to-end-invoice-processing-25658911


http://webwire.com/ViewPressRel.asp?aId=217248

https://www.prnewswire.com/news-releases/avidxchange-announces-site-selection-for-expanded-operations-in-sandy-utah-to-support-fast-paced-workforce-growth-300564147.html

http://charlotteraleigh.citybizlist.com/article/454147/charlotte-based-avidxchange-raises-another-25m

http://technologyrecord.com/Article/signup-software-signs-deal-with-sk-global-62112#.Whu2R7yWY8o

https://seekingalpha.com/article/4126541-bottomline-technologies-inc-2018-q1-results-earnings-call-slides

http://www.pressreleasepoint.com/avidxchange-receives-top-software-company-award-north-carolina-technology-association

https://www.finextra.com/pressarticle/71171/fifth-third-joins-mastercard-b2b-hub-powered-by-avidxchange

http://www.mobyaffiliates.com/blog/tipalti-launches-new-solution-to-monitor-fraud-across-accounts-payable-platforms/

http://www.financialopps.biz/business-news/1.139666-avidxchange-to-add-more-than-200-jobs-in-utah.html

https://www.accountingtoday.com/news/tipalti-introduces-touchless-invoice-data-capture?feed=00000152-a2fb-d118-ab57-b3ff6e310000


Accounting Solutions > Invoice Management > Payables: Top Companies

Market: PayablesFinance & Accounting > Market Details > Market: Payables


Analyst’s Pick



Tipalti (2010, Palo Alto, $27M)Automated online mass payment system and account payable platform. Minicorn. Stage: Series B

SGVC

InShip (2014, Dublin)Account payable automation software. Editor's Pick. Stage: Unfunded

POM (2015, Brussels)Mobile (Android & iOS) app for making invoice payments. Editor's Pick. Stage: Funded

Startupbootcamp

Analyst’s Pick

Storecove (2014, Amsterdam)Automatic supplier invoice collection software. Editor's Pick. Stage: Funded

Otterloo Ventures



Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics

64

Accounting Solutions > Invoice Management > Payables: Leaderboard

Market: PayablesFinance & Accounting > Market Details > Market: Payables


Better than Market Average

Overall Rating

Company Name

Founded Year

Location Stage Funding Team

Execution Quality Size Metrics 6M Growth Metrics

App Rating

App UX

Web UX

NewsWeb

Traffic Rank

Social Follow

ing

Mobile Downloads

# App Revie

ws

Web Traffic Rank

Mobile Downloads

Social Following

Δ % Δ % Δ %

5.0 Rubberstamp 2014 Dublin Unfunded - - 4 - - - 652k 1.1k 31k 63 109k 20% 17 35% -84 -7%

4.9 Controlle 2009 Criciuma Unfunded - - 4 2 4 - 330k 28 3k 56 - - 21 60% 10 49%

4.8BottomlineTechnologies

1989 Portsmouth Public - - 4 - - 15 349k - 600 4 -117k -25% 1 33% - -

4.8 MCRIndia 2015 Bangalore Unfunded - - 4 - - - 6M - 30k 51 - - 4 7% - -

4.7 Anybill 2001Washington D.C.

Unfunded - - 4 - - - 1.2M 337 300 6 -484k -29% - - 2 1%

4.6 OpsTechnology 1999San Francisco

Acquired $16M - - - - - 384k 6.3k - - 39k 11% - - 373 6%

4.5 ReadSoft 1991Helsingborg

Acquired - - 4 - - - 10M 1.2k 750 36 - - - - - -

4.4 Yooz 2013 Coppell Unfunded - - - - 3 - - 394 - - - - - - - -

4.4 Pay2n 2011 Jonsered Unfunded - - 5 - - - - 66 300 13 - - - - - -

4.3 AvidXchange 2000 Charlotte Series F $560M - - - - 19 486k 1.8k - - -40k -8% - - 319 22%

4.2 Nvoicepay 2009 Beaverton Series B $21M - - - - 8 986k 5.9k - - -84k -8% - - 790 15%

4.1 Tipalti 2010 Palo Alto Series B $27M - - - - 6 85k 900 - - -22k -20% - - 55 6%

4.0 Sourcery 2012San Francisco

Series A $8M - - - - - 2.5M 814 - - 151k 6% - - 22 3%

4.0 billSync 2014New York City

Unfunded - - 2 - - - 10M 17 300 2 - - - - -3 -19%


Incubators 500 Startups (#2), Primer (#1)

Seed Feddev Ontario (#1), OMERS Ventures (#1)

Series A/B Social Capital (#1), Charles River Ventures (#1)

Series C+ Battery Ventures (#1), National Australia Bank (#1)

Intacct Jul - 2017Acq by Sage Group for $850M

FreeAgent Nov - 2016IPO'd on LON

Class Super Dec - 2015IPO'd on ASX

MYOB Apr - 2015IPO'd on ASX

Sage Group Jun - 2013IPO'd on LON

Xero Aug - 2012IPO'd on ASX

Reckon Jul - 1999IPO'd

PESiigo (1988, Bogota)

$12M - Series AZeitgold (2015, Berlin, $16.5M)

$43M - Series BFreshBooks (2003, Toronto, $73M)

$3.2M - SeedShine (2017, Paris, $3.2M)

$24M - Series DWave Accounting (2009, Toronto,

$86.3M)

$20M - SeedNibo (2012, Rio De Janeiro, $20M)


Dec 2017Wave files FCC complaint against Comcast over regional sports networks, Fierce Cable

Dec 2017MYOB, Reckon merger under scrutiny by NZ’s competition regulator, iTWire

Dec 2017Xero Removes the Desk Phone with Dialpad's Solution, PR Newswire

Dec 2017Sage Appoints Current President Blair Crump Executive Director, LSE Spreads

Dec 2017Sage Launches Cloud Payroll for Canadian SMBs Using Sage One, Technology-Signals

Dec 2017New Benchmarking Survey of Accountants and Bookkeepers Reveals Significant Revenue Opportunity in Advisory Services, GlobeNewswire

Dec 2017Plooto and Xero Announce Partnership to Provide Transparent Payment Process for Accounting Firms, 4-Traders

Dec 2017Intuit acquires time-tracking service TSheets for $340M, TechCrunch

Dec 2017 FreeAgent enjoys customer portal success, Insider

Dec 2017Pinnacle awarded exclusive spot at ‘Sage CEO Circle’ for a second year running, Sync NI

Nov 2017 Intuit hires 1K CPAs for on demand assistance, Seeking Alpha

Nov 2017 Intuit Inc. (INTU) Updates Q2 Earnings Guidance, TechKenyot

Nov 2017Software firm Sage sees faster growth after 10 percent profit rise, Reuters

News

0

2

4

6

8

10

12

$0k

$20M

$40M

$60M

$80M

$100M

$120M

$140M

2014 2015 2016 2017 2018

YoY Funding Rounds

8

8

18

44

378

M&A/IPO

Series C+

Series A+

Funded

CompaniesCovered

Funding Funnel

Accounting Solutions > Accounting Suite > SMB: Market Factsheet

Market: SMB

65

Exits


Recent Investments


Companies providing accounting suite software with the focus on SMBs

Intacct(1999, San Jose, $95.8M)

Wave Accounting(2009, Toronto, $86.3M)

FreshBooks(2003, Toronto, $73M)

Freee(2012, Minato, $54.8M)

Nibo(2012, Rio De Janeiro, $20M)

Top Companies


Finance & Accounting > Market Details > Market: SMB



https://www.fiercecable.com/cable/wave-files-fcc-complaint-against-comcast-over-sports-nets

http://itwire.com/accounting-software/81184-myob

https://www.prnewswire.com/news-releases/xero-removes-the-desk-phone-with-dialpads-solution-300569694.html

http://lse.co.uk/AllNews.asp?code=igzuzv8d&headline=Sage_Appoints_Current_President_Blair_Crump_Executive_Director

http://technology-signals.com/sage-launches-cloud-payroll-for-canadian-smbs-using-sage-one/

http://globenewswire.com/news-release/2017/12/06/1233917/0/en/New-Benchmarking-Survey-of-Accountants-and-Bookkeepers-Reveals-Significant-Revenue-Opportunity-in-Advisory-Services.html

http://4-traders.com/XERO-LIMITED-10674803/news/Xero-Plooto-and-Xero-Announce-Partnership-to-Provide-Transparent-Payment-Process-for-Accounting-Fi-25623719

https://techcrunch.com/2017/12/05/intuit-acquires-time-tracking-service-tsheets-for-340m/

http://www.insider.co.uk/news/freeagent-enjoys-customer-portal-success-11640777

https://syncni.com/news/718/9250/pinnacle-awarded-exclusive-spot-at-sage-ceo-circle-for-a-second-year-running/tab/1356

https://seekingalpha.com/news/3315512-intuit-hires-1k-cpas-demand-assistance

http://techkenyot.com/2017/11/23/intuit-inc-intu-updates-q2-earnings-guidance/

http://in.reuters.com/article/sage-group-results/software-firm-sage-sees-faster-growth-after-10-percent-profit-rise-idINKBN1DM118


Accounting Solutions > Accounting Suite > SMB: Top Companies

Market: SMBFinance & Accounting > Market Details > Market: SMB


Analyst’s Pick



Wave Accounting (2009, Toronto, $86.3M)SaaS Accounting for SMBs and personal finance management. Soonicorn. Stage: Series D


Freee (2012, Minato, $54.8M)Automated cloud accounting and payroll software. Soonicorn. Stage: Series C


Bexio (2008, Rapperswil, $12.2M)Online business management software for SMBsMinicorn. Stage: Series B

Swisscom, Redalpine, Armada Investment

Analyst’s Pick

MYOB (1991, Glen Waverley)Business management solutions provider. Unicorn. Stage: Public

Bain Capital Private Equity, HarbourVest Partners

ContaAzul (2011, Joinville)SaaS accounting and invoicing solutions for SMBsEditor's Pick. Stage: Series C

Ribbit Capital, Tiger Global Management, 500 Startups and 3 Other Investors

TAS Software (1992, Newcastle Upon Tyne)Accounting solution for SMEsEditor's Pick. Stage: Unfunded




https://tracxn.com/companies/7Rm-VDprC0zrJsvBDqN7mDp6aziB868_ZzIwIHUimoY/contaazul.com



67

Accounting Solutions > Accounting Suite > SMB: Leaderboard

Market: SMBFinance & Accounting > Market Details > Market: SMB



Overall Rating

Company Name

Founded Year



App Rating

App UX

Web UX

NewsWeb

Traffic Rank

Social Follow

ing

Mobile Downloads

# App Revie

ws

Web Traffic Rank

Mobile Downloads

Social Following

Δ % Δ % Δ %

5.0 Clear Books 2008 London Seed $1M - 3 4 4 - 97k 30k 4k 44 19k 23% 1 2% - -

5.0 Bexio 2008 Rapperswil Series B $12M - 5 - - 2 85k 2.1k 3k 8 12k 16% 2 24% 116 6%

5.0 inFakt 2008 Krakow Series A $1M - 4 - - - 57k 489 30k 501 8k 15% 37 8% 17 3%

5.0 Sage Group 1997Newcastle Upon Tyne

Public - - 3 - 4 55 15k 13k 23k 169 -2k -7% 18 16% 2k 18%

4.9 FreshBooks 2003 Toronto Series B $73M - 4 - - 8 6k 31k 375k 3.6k 1k 5% 260 13% - -

4.9 Intuit 1983Mountain View

Public - - 4 - - 52 279 72k 20.3M234.6

k1k 13% 5.4k 6% 1k 1%

4.9 Nibo 2012Rio De Janeiro

Series A $20M - 4 - - 1 108k 301 3k 48 -62k -36% 9 30% 33 12%

4.9 Freee 2012 Minato Series C $55M - 4 - - - 7k 6.5k 303k 455 2k 18% 42 10% -89 -1%

4.9Wave Accounting

2009 Toronto Series D $86M - 4 - - 14 6k 11 600k 10.3k -1k -10% 1.7k 23% - -

4.9 Jobis 2015 Gangnam Series A $2M - 4 3 2 2 373k - 9k 68 -20k -6% 12 21% - -

4.9 SnelStart 1982 Amsterdam Unfunded - - 4 - 4 - 797k 2.6k 8k 23 187k 30% 18 322% 182 8%

4.9 Spiderg 2015 Pune Seed - - 5 - - 3 6.6M 216 3k 35 5M 161% 9 30% - -

4.8 Alegra 2012 Istanbul Unfunded - - 5 - - - 88k 1.1k 30k 726 -20k -19% 273 61% 65 6%

4.8 Colppy 2010Buenos Aires

Funded - - 4 - - - 958k 3.3k 750 9 43k 5% 1 11% 621 23%

4.8 Anfix 2010 Valladolid Unfunded - - 2 4 4 - 113k 3.5k 750 29 -32k -22% 1 - 21 1%


Incubators 500 Startups (#1), Jumpstart (#1)

Seed Y Combinator (#4), FundersClub (#3)

Series A/B Accel Partners (#2), Redpoint Ventures (#2)

Series C+ Polaris Partners (#1)

Certify Jun - 2017Acq by K1 Investment Management for $100M

Concur Dec - 2014Acq by SAP for $8.3B

$23.7M - Series BMobileXpense (2001, Brussels,

$23.7M)

$13M - Series AAppZen (2012, Sunnyvale, $17.5M)

$1M - Series AApptricity (1999, Irving, $1M)

$120k - SeedIQBoxy (2013, Mountain View, $120k)

$25M - Series BTravelBank (2015, San Francisco,

$35M)

$1.1M - SeedExpensya (2014, Paris, $1.1M)

$600k - SeedAccrualify (2015, San Mateo, $600k)

$4M - SeedPlate IQ (2014, San Francisco, $4.8M)

SeedFinly (2016, Bangalore)

$400k - SeedFyle (2016, Bangalore, $400k)




Dec 2017SutiHR Gets Updated with Affordable Care Act Reports, Hiring Features, and More, Technology-Signals

Dec 2017GoCatch Integrates Business Solutions with Concur to Deliver Seamless Travel Expensing, Medianet

Nov 2017Concur Automates eReceipt Data Capture Via WeChat In China, FinTechnewsToday

Nov 2017 New Features Make SutiDesk More Intuitive , PRWeb

Nov 2017Latest vManager Mobile App Provides Enterprise-Wide Visibility for IT Leaders On the Go, GlobeNewswire

Nov 2017Deem Partners with Apptricity Expense Tool, Business Travel News

Nov 2017Wells Fargo Signs Two Data Exchange Deals with Expensify, PointServ, Business Wire

Oct 2017Diageo India Partners With Concur to Simplify, Streamline and Reduce Travel and Expense Management, Finalaya

Oct 2017Edge Investments backs online TV rights licensing platform TRX, Private Equity Wire

Oct 2017 Convercent Joins Concur App Center, Marketwired

Sep 2017Certify adds services for large companies, while Concur targets the small, Tnooz

News

0

5

10

15

20

$0k

$10M

$20M

$30M

$40M

$50M

$60M

$70M

$80M

2014 2015 2016 2017 2018

YoY Funding Rounds

3

5

16

52

179

M&A/IPO

Series C+

Series A+

Funded

CompaniesCovered

Funding Funnel

Accounting Solutions > Expense Management > Expense Tracking Software: Market Factsheet

Market: Expense Tracking Software

68

Exits


Recent Investments


Companies offering software for tracking and reporting employee's expenses

TravelBank(2015, San Francisco, $35M)

Expensify(2008, San Francisco, $27.8M)

MobileXpense(2001, Brussels, $23.7M)

AppZen(2012, Sunnyvale, $17.5M)

Nexonia(2002, Toronto, $14.2M)

Top Companies


Finance & Accounting > Market Details > Market: Expense Tracking Software





http://technology-signals.com/sutihr-gets-updated-with-affordable-care-act-reports-hiring-features-and-more/

http://www.medianet.com.au/releases/150973/

http://fintechnewstoday.com/concur-automates-ereceipt-data-capture-via-wechat-in-china/


http://globenewswire.com/news-release/2017/11/28/1207070/0/en/Latest-vManager-Mobile-App-Provides-Enterprise-Wide-Visibility-for-IT-Leaders-On-the-Go.html

http://businesstravelnews.com/Payment-Expense/Deem-Partners-with-Apptricity-Expense-Tool

http://businesswire.com/news/home/20171106006110/en/Wells-Fargo-Signs-Data-Exchange-Deals-Expensify

http://www.finalaya.com/News/Diageo-India-Partners-With-Concur-to-Simplify-Streamline-and-Reduce-Travel-and-Expense-Management-N564318.aspx

https://www.privateequitywire.co.uk/2017/10/05/256832/edge-investments-backs-online-tv-rights-licensing-platform-trx

http://www.marketwired.com/press-release/convercent-joins-concur-app-center-2235873.htm

https://www.tnooz.com/article/articlecertify-adds-services-for-large-companies-while-concur-targets-the-small/


Accounting Solutions > Expense Management > Expense Tracking Software: Top Companies

Market: Expense Tracking SoftwareFinance & Accounting > Market Details > Market: Expense Tracking Software


Analyst’s Pick

TravelBank (2015, San Francisco, $35M)Cloud-based expense management Android and iOS app for SMBsMinicorn. Stage: Series B

DCM Ventures, Propel Venture Partners, New Enterprise Associates and 3 Other Investors

Expensify (2008, San Francisco, $27.8M)Expense Report SoftwareEditor's Pick. Stage: Series B

OpenView, CoyoteRidgeVC, Barracuda and 5 Other Investors

AppZen (2012, Sunnyvale, $17.5M)Personal Assistant for Expense ManagementEditor's Pick. Stage: Series A

Redpoint Ventures, Resolute Ventures, Bloomberg Beta and 6 Other Investors

Nexonia (2002, Toronto, $14.2M)Software provider for accounting modules like expenses, accounts payable. Minicorn. Stage: Series B

Analyst’s Pick

Xpenditure (2011, Mechelen, $8.7M)Expense Management SoftwareMinicorn. Stage: Series A

Abacus (2013, New York City, $3.5M)Employee Expense Reporting ApplicationEditor's Pick. Stage: Seed

Homebrew, Sherpalo Ventures, GV and 13 Other Investors



RitExpense (2015, Atlanta)Cloud-based expense reporting and management solution. Editor's Pick. Stage: Unfunded

https://tracxn.com/companies/L7lXoHhwsvbQdFP341E8-qLW7IwDYfroy8W5Ch3gWug/travelbank.com

https://tracxn.com/companies/UHruzjPht1_llsuvN76hvRo4tcKfpxJz5wWEWTjKvUc/expensify.com

https://tracxn.com/companies/GIGDcChSonYWaNtRs2la0JDxkuVWH5B1tsUn2Ytm6kg/appzen.com

https://tracxn.com/companies/TOTZdwY5Ps96cm-D1PllDOZruxzzcs4ltHuCKXTQ8B8/abacus.com




70

Accounting Solutions > Expense Management > Expense Tracking Software: Leaderboard

Market: Expense Tracking SoftwareFinance & Accounting > Market Details > Market: Expense Tracking Software



Overall Rating

Company Name

Founded Year



App Rating

App UX

Web UX

NewsWeb

Traffic Rank

Social Follow

ing

Mobile Downloads

# App Revie

ws

Web Traffic Rank

Mobile Downloads

Social Following

Δ % Δ % Δ %

5.0 Concur 1993 Bellevue Acquired - - 4 4 3 35 29k 23k 3.1M 93k 3k 8% 3.1k 7% 1k 5%

5.0 Everlance 2015San Francisco

Seed $250K - 5 - - - 175k 260 300k 6k - - 1.7k 54% 31 13%

4.9 Expensya 2014 Paris Seed $1M - 5 - - 1 1.7M 412 30k 206 946k 135% 51 40% 53 14%

4.9 Fyle 2016 Bangalore Seed $400K 4 4 - 4 1 673k 149 3k 34 67k 11% 16 88% 115 141%

4.9 IQBoxy 2013Mountain View

Seed $120K - 5 - - - 1.2M 174 30k 621 - - 38 79% 72 59%

4.9 Certify 2008 Portland Acquired $2M - 4 - - 7 61k 1.3k 75k 785 -10k -13% 59 16% 30 2%

4.8 Jojonomic 2015 Jakarta Seed $2M - 4 - - - 1.1M 1.7k 11k 185 -588k -35% 100 143% 8 -

4.8 Shoeboxed 2007 Durham Seed $2M - 4 - - 2 251k 8.5k 75k 4.8k 11k 4% 1 - 3 -

4.8 SPENT 2014 Oulu Unfunded - - 4 5 4 1 527k 3.9k 78k 409 - - 87 27% 1.9k 75%

4.7 Expensify 2008San Francisco

Series B $28M - 4 - - 19 11k 12k 3M 12.8k -1k -8% 392 4% - -

4.7 Abacus 2013New York City

Seed $4M - 4 - - 5 164k 1.5k 8k 64 2k 1% 1 1% 120 9%

4.7 Xpenditure 2011 Mechelen Series A $9M - 4 - - - 153k 1.6k 75k 369 -8k -5% 44 17% 70 5%

4.6 Nexonia 2002 Toronto Series B $14M - 4 - - - 63k 1.1k 38k 1.3k -4k -5% 12 6% 21 2%

4.6 Quipu 2013 Barcelona Seed $385K - 4 - - - 78k 2.1k 3k 31 6k 8% 4 18% 28 1%

4.6 Hurdlr 2012Washington D.C.

Unfunded - - 5 - - 1 534k 981 333k 2.9k - - 720 41% 86 9%


Market: Treasury Management

71


Finance & Accounting > Market Details > Market: Treasury Management



Market: Treasury ManagementFinance & Accounting > Market Details > Market: Treasury Management



Market: Payables & Receivables

74


Finance & Accounting > Market Details > Market: Payables & Receivables



Market: Payables & ReceivablesFinance & Accounting > Market Details > Market: Payables & Receivables



Market: Suite

77


Finance & Accounting > Market Details > Market: Suite



Market: SuiteFinance & Accounting > Market Details > Market: Suite



Market: Collections

80


Finance & Accounting > Market Details > Market: Collections



Market: CollectionsFinance & Accounting > Market Details > Market: Collections



Market: Procure-to-pay

83


Finance & Accounting > Market Details > Market: Procure-to-pay



Market: Procure-to-payFinance & Accounting > Market Details > Market: Procure-to-pay



Market: Payroll Software

86


Finance & Accounting > Market Details > Market: Payroll Software



Market: Payroll SoftwareFinance & Accounting > Market Details > Market: Payroll Software



Market: Data Digitization

89


Finance & Accounting > Market Details > Market: Data Digitization



Market: Data DigitizationFinance & Accounting > Market Details > Market: Data Digitization



Market: Quote-to-cash

92


Finance & Accounting > Market Details > Market: Quote-to-cash



Market: Quote-to-cashFinance & Accounting > Market Details > Market: Quote-to-cash



Market: Budgeting & Forecasting

95


Finance & Accounting > Market Details > Market: Budgeting & Forecasting

Companies Created 103 | Funded 30 | Total Funding $57.3M


Market: Budgeting & ForecastingFinance & Accounting > Market Details > Market: Budgeting & Forecasting



Market: Subscription Billing

98


Finance & Accounting > Market Details > Market: Subscription Billing



Market: Subscription BillingFinance & Accounting > Market Details > Market: Subscription Billing



Market: Expense Cards

101


Finance & Accounting > Market Details > Market: Expense Cards



Market: Expense CardsFinance & Accounting > Market Details > Market: Expense Cards



Market: Receivables

104


Finance & Accounting > Market Details > Market: Receivables



Market: ReceivablesFinance & Accounting > Market Details > Market: Receivables



Market: Tax Software

107


Finance & Accounting > Market Details > Market: Tax Software



Market: Tax SoftwareFinance & Accounting > Market Details > Market: Tax Software



Market: Cap Table Management

110


Finance & Accounting > Market Details > Market: Cap Table Management



Market: Cap Table ManagementFinance & Accounting > Market Details > Market: Cap Table Management




Market: Business Intelligence

112


Finance & Accounting > Market Details > Market: Business Intelligence



Market: Business IntelligenceFinance & Accounting > Market Details > Market: Business Intelligence



Market: Bookkeeping

115


Finance & Accounting > Market Details > Market: Bookkeeping



Market: BookkeepingFinance & Accounting > Market Details > Market: Bookkeeping



Market: Tech-enabled Services

118


Finance & Accounting > Market Details > Market: Tech-enabled Services



Market: Tech-enabled ServicesFinance & Accounting > Market Details > Market: Tech-enabled Services



Market: Account Reconciliation

121


Finance & Accounting > Market Details > Market: Account Reconciliation



Market: Account ReconciliationFinance & Accounting > Market Details > Market: Account Reconciliation



Market: Collaboration Software

124

#3 Top Markets of Early Stage Investors

Finance & Accounting > Market Details > Market: Collaboration Software



Market: Collaboration SoftwareFinance & Accounting > Market Details > Market: Collaboration Software



Public Companies

Contents

Feed Summary

Investment Trend

Market Details

Exit Outlook

Investors

News

Appendix

127

Notable Acquisitions

Top Acquirers

Acqui-hires






https://tracxn.com/reports/rh2_gC3Inr5132Oyzz_vjA/MarketingTech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Exit-Outlook&utm_medium=Mktg-Page-MarketingTech-Report&utm_campaign=MarketingTech-Report-Button&utm_content=Download

https://tracxn.com/reports/3TMmsOEw30ts_oFVqByixg/Sales Force Automation Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Exit-Outlook&utm_medium=Mktg-Page-Sales-Force-Automation-Report&utm_campaign=Sales-Force-Automation-Report-Button&utm_content=Download

https://tracxn.com/reports/SyZeKDXlfudqFLACFHzEcg/Consumer HealthTech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Exit-Outlook&utm_medium=Mktg-Page-Consumer-HealthTech-Report&utm_campaign=Consumer-HealthTech-Report-Button&utm_content=Download

https://blog.tracxn.com/request-for-demo?utm_source=Finance-&-Accounting-Report-Exit Outlook&utm_medium=Mktg-Page-Demo&utm_campaign=Finance-&-Accounting-Demo-Button&utm_content=Demo


Recently IPO’d Companies (1/4)

129

Performance indicators of recently public companies in Finance & Accounting

IPO Date CompanyCurrent

MCapIPO

McapRevenue P/E

ExchangeTicker

Oct 2017IRIS (2000, Vashi)

Cloud based XBRL solutions$9.2M $9.2M $3.7M BOM:540735

Nov 2016FreeAgent (2007, Edinburgh)

SaaS Finance Management for SMB$544k $42.5M $10M FREE

Oct 2016BlackLine (2001, Woodland Hills)

Account reconciliation software$1.8B $839M $123M NASDAQ:BL

Oct 2016Coupa (2006, San Mateo)

Cloud spend management software.$1.7B COUP

Mar 2016Cerillion Skyline (1999, London)

Subscription billing, charging and CRM solution provider.$832k 21.78 CER

Dec 2015Class Super (2009, Sydney)

Cloud-based software solutions for wealth accounting.$256M $84.1M $22.4k 41.51 ASX:CL1

Apr 2015MYOB (1991, Glen Waverley)

Business management solutions provider.$1.7B $285 38.33 ASX:MYO

Dec 2014Workiva (2008, Ames)

Compliance and management reporting platform$891M $553M $179M NYSE:WK

Aug 20148common (2014, Sydney)

Suite of enterprise software$1.4M $12.6M $3.1M ASX:8CO

Mar 2014PromikBook (2010, Gothenburg)

Billing and bookkeeping software provider.$4.9B 18 PB

Finance & Accounting > Exit Outlook > Recently IPO’d Companies



130



MCapIPO

McapRevenue P/E

ExchangeTicker

Jun 2013Sinosoft (1998, Nanjing)

Export tax software and related solutions provider.$349M 11.43 1297

Jun 2013Sage Group (1997, Newcastle Upon Tyne)

Accounting, HR and ERP solutions for SMEs$144M $2B 33.39 LON:SGE

Mar 2013Model N (1999, Redwood City)

Cloud based revenue management solution for life science and hi-tech industry

$466M $343M $107M NYSE:MODN

Oct 2012Workday (2005, Pleasanton)

Human Resources and Financial Management Suite$4.5B $4.5B $1.6B NYSE:WDAY

Aug 2012Xero (2006, Wellington)

Online Accounting Software for SMBs$226M ASX:XRO

Aug 2010Esker (1985, Lyon)

Document automation & order management software$334M 44.18 ALESK

Jun 2008VersaPay (2006, Vancouver)

Cloud based B2B accounts receivable solution provider$61.8M $1.1M CVE:VPY

Jun 2006Proactis (1996, Wetherby)

Spend control and e procurement solution provider$2.6M $284M $25.5M LON:PHD

Jul 2005Sidetrade (2000, Boulogne)

Account Receivable automation$111M 51.46

EURONEXT:ALBFR




131



MCapIPO

McapRevenue P/E

ExchangeTicker

Feb 2005Wright Express (1983, South Portland)

Financial and information management solutions$6.1B 70.87 WEX

Jul 2004Blackbaud (1981, Charleston)

Non-profit software provider$4.6B $340M $731M 86.13 NASDAQ:BLKB

Jul 1999Reckon (1987, Sydney)

Web-based accounting and bookkeeping software for SMBs and other users

$225M RKN

Feb 1999Bottomline Technologies (1989, Portsmouth)

Invoice, document automation solutions$1.4B $129M $349M NASDAQ:EPAY

Dec 1997Flexi (1991, Shelton)

Enterprise accounting software Solutions for financial services industry.

$179M $179M $6.8M NASDAQ:FLXI

Mar 1996PRGX (1970, Atlanta)

Accounts Payable recovery audit and advisory services provider.$158M $141M NASDAQ:PRGX

Mar 1993Intuit (1983, Mountain View)

business & financial mgmt. solutions$40.5B $5.2B 41.92 NASDAQ:INTU

Basware (1985, Espoo)

P2P and e-invoicing solutions$811M $156M HEL:BAS1V

Solium (1999, Calgary)

Cloud-based equity compensation administration software and services provider.




132



MCapIPO

McapRevenue P/E

ExchangeTicker

Direct Insite (1987, Lauderdale)

Cloud based accounts payable and receivable management software provider.

US Dataworks (1997, Sugar Land)

Multi-channel payment processing & clearing solutions

Tungsten Network (2000, London)

e-invoicing, invoice financing and analytics company

Heeros (2000, Helsinki)

Cloud-based tool for financial information management$7M HEL:HEEROS

BizXpert (1989, Budapest)

Cloud-based invoicing solution for Windows.

The Mint Corporation (2009, Dubai)

Gateway, POS and prepaid payroll card services



Notable Acquisitions (1/4)

133

Notable Acquisitions in Finance & Accounting

Finance & Accounting > Exit Outlook > Notable Acquisitions

2017

Acquirer: Intuit Deal: $340MTSheets (2006, Boise, $15M)Time Tracking Software

Acquirer: Sage Group Deal: $850MIntacct (1999, San Jose, $95.8M)Cloud ERP, Financial management and Accounting Applications

Acquirer: Proactis Deal: $133MPerfect Commerce (1994, Newport News, $30M)Procure-to-Pay Automation

Acquirer: K1 Investment ManagementDeal: $100M

Certify (2008, Portland, $2.2M)Travel & Expense Management Software

Acquirer: Ebix Deal: $120MItzCash (2006, Mumbai, $52.6M)Provider of prepaid payment cards

2017

Acquirer: Wolters Kluwer Deal: $318MTagetik (1986, Lucca)Corporate Performance Management

2016

Acquirer: ION GroupReval (1999, New York City, $28M)Accounting and Risk Management Software

Acquirer: AmdocsVindicia (2003, Redwood City, $41M)SaaS subscription and recurring billing

Acquirer: Wright Express Deal: $1.1BElectronic Funds Source (1996, Ogden)Corporate and Fleet Expense solutions

Acquirer: RealPageNWP Services Corp. (1995, Costa Mesa, $20M)Provider of utility management, resident and property operation services that enable multi-housing properties.



134



2015

Acquirer: Salesforce Deal: $360MSteelBrick (2002, Palo Alto, $77.5M)SaaS based CPQ for SalesForce.com users

Acquirer: Fidelity Information ServicesDeal: $9.1B

SunGard (1982, Wayne)Enterprise Software

Acquirer: Permira investmentDeal: $681M

GFKL (1992, Essen)Receivables' collections service provider.

Acquirer: Freelancer Deal: $8MEscrow.com (1999, Rancho Santa Margarita, $30M)Licensed escrow service provider.

Acquirer: LongviewArcplan (1993, Wayne, $34M)Corporate Performance Management

2015

Acquirer: Thoma BravoPowerPlan (1994, Atlanta, $110M)Asset accounting, tax and budgeting solutions

2014

Acquirer: SAP Deal: $8.3BConcur (1993, Bellevue)End-to-end travel expense management

Acquirer: Siris Capital Deal: $840MDigital River (1994, Minnetonka)Global commerce, marketing and payments solutions provider.

Acquirer: EricssonMetraTech (1998, Waltham, $37.5M)Agreements-based billing and settlement solutions provider.



135



2013

Acquirer: Tungsten Network Deal: $149MOB10 (2000, London, $10.1M)B2B eInvoicing, invoice financing and analytics firm.

Acquirer: SAPHybris (1997, Zug, $30M)Enterprise multichannel e-commerce and product content management software

Acquirer: Myob Deal: $136MMYOB BankLink (1986, Auckland)Provider of software for automatically providing financial transaction data from banks.

Acquirer: GT NexusTradeCard (1999, New York City, $133M)Cloud based Supplier collaboration and enabler of Sourcing transactions

2012

Acquirer: SAP Deal: $4.3BAriba (1996, Sunnyvale)e-Procurement, invoicing, and B2B collaboration software

2010

Acquirer: Paychex Deal: $115MSurePayroll (2000, Glenview)Online Payroll Service for SMBs

Acquirer: Jack Henry Deal: $300MIPay Technologies (2001, Elizabethtown)Online bill pay service



136



2009

Acquirer: Intuit Deal: $170MPayCycle (1999, Palo Alto, $28M)Online Payroll service provider.

Acquirer: GenpactAvolent (1995, San Francisco, $49M)Self-service eBilling and eSettlement software provider.

Before 2008

Acquirer: Thomson ReutersLiquid Engines (2001, New York City, $30.5M)Corporate Tax Software Provider

Acquirer: Intuit Deal: $131MElectronic Clearing House (1981, Camarillo)End-to-end payment processing solutions.

Acquirer: Cognos Deal: $339MApplix (1983, Westborough)Business performance management solution

Acquirer: American ExpressHarbor Payments (2000, Atlanta, $40M)B2B invoice payments

Acquirer: Checkfree NorcrossDeal: $250M

BlueGill Technologies (1996, Brookfield)Electronic billing and payment solution

Acquirer: Ticonderoga Private EquityFastSpring (2005, Santa Barbara)Digital e-commerce payment, merchandising and fulfillment solution


Most Active Acquirers

137

Finance & Accounting > Exit Outlook > Most Active Acquirers


Date Target

Aug-16Gallium Technologies Acq by Ansonia Credit Data

Jul-16 Prevero Acq by Unit4

Jun-16 DisclosureNet Acq by Certent

Jun-16 Preferred Return Acq by Gust

Jun-16 Gust Equity Management Acq by Gust

Jun-16 e-conomic Acq by TeamSystem

Jun-16Invoiceware International Acq by Sovos Compliance

Jun-16 WolfePak Acq by Fort Point Capital

Apr-16 Bill & Pay Acq by i3 Verticals

Apr-16 Sproom Acq by Visma

Apr-16 Altus Acq by NewSpring Capital

Mar-16 Mentio Acq by Lendified

Mar-16Trust Kapital Group Acq by Sentica Partners

Mar-16 Armor Payments Acq by Payoneer

Acqui-hires (1/2)

138

List of Acqui-hires in Finance & Accounting

Excludes all details for Chinese companies

Date Target

Dec-17 Commercial Logic Acq by AbacusNext

Nov-17 Ariett Acq by AvidXchange

Nov-17 Adra Acq by Trintech

Oct-17 Exactor Acq by Intuit

Oct-17 Capshare Acq by Solium

Oct-17 Global Cash Card Acq by ADP

Aug-17 RevStream Acq by Microgen

Aug-17 Medius Acq by Marlin Equity Partners

Jul-17 MDSL Acq by Sumeru Equity Partners

Jul-17 Payable Acq by Stripe

Jun-17 MyEasyPay Acq by Payzone Ireland

Jun-17 Palladium Acq by Rectron

Jun-17 PACE Invoice Acq by Flywire

May-17 RevSym Acq by CallidusCloud

May-17 Dolphin Acq by Hanse Orga Group

Date Target

May-17 Leeyo Acq by Zuora

Apr-17 Finnav Acq by Asset Vantage

Apr-17 Abila Acq by Community Brands

Mar-17 Compass Acq by Sage Group

Mar-17 Davilex Acq by Visma

Mar-17 Invapay Acq by Optal

Mar-17 Hummingbill Acq by Kredx

Feb-17 Satago Acq by Oxygen Finance

Jan-17 PS Financials Acq by Iris Software

Dec-16 Dinero Acq by Visma

Oct-16 Bankstream Acq by Intuit Quickbooks

Sep-16 TransCentra Acq by SourceHOV

Sep-16 Runbook Acq by BlackLine

Aug-16Kds Acq by GBT Travel Services UK Limite

Finance & Accounting > Exit Outlook > Acqui-hires


Date Target

Jan-15 rapid! PayCard Acq by UniRush

Dec-14 Acrede HR & Payroll Acq by Intuit

Dec-14 Finale Acq by Visma

Nov-14 Piracle Acq by AvidXchange

Nov-14 ReadSoft Acq by Lexmark

Nov-14 WorkingPoint Acq by Zipmark

Nov-14 Monchilla Acq by Xero

Oct-14 SpeedLedger Acq by e-conomic

Oct-14 Balance Financial Acq by TaxACT

Sep-14 Pesapoint Acq by Interswitch Group

Sep-14Fiduciaire de Distribution Internationale Acq by Webhelp

Jul-14 Xifin Acq by GTCR

Jul-14 KDK Softwares Acq by Intuit

Jul-14ProConfirm Acq by Capital Confirmation

Acqui-hires (2/2)

139

List of Acqui-hires in Finance & Accounting


Date Target

Mar-16 Policard Acq by Up Group

Mar-16 ExpenseWatch Acq by Nexonia

Feb-16 Billhighway Acq by BluePay

Feb-16 Nubox Acq by Riverwood Capital

Jan-16 Sovos Acq by HgCapital

Jan-16 Trimma Acq by Visma

Dec-15 Computron Software Acq by Aptean

Oct-15 CQS Technology Acq by Adapt IT

Sep-15 IMS Payroll Acq by MYOB

Sep-15 Beanstream Acq by Bambora

Sep-15Ontario Systems Acq by Arlington Capital Partners

Sep-15 Fatture in Cloud Acq by TeamSystem

Aug-15 Monexa Acq by NetSuite

Jul-15 ASYX Acq by ApexPeak

Date Target

Jul-15 TripScanner Acq by Coupa

Jul-15 InvoiceSmash Acq by Coupa

Jun-15Strongroom Solutions Acq by AvidXchange

Jun-15 VAT Applications Acq by Avalara

Jun-15 EZtax Acq by Avalara

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May-15 Basecone Acq by Wolters Kluwer

Apr-15 Springbrook Software Acq by Accela

Apr-15 ShipCompliant Acq by Sovos Compliance

Apr-15 Commerce Escrow Acq by Opus Bank

Mar-15 Second Decimal Acq by Ryan

Mar-15 Avalara MyLodgeTax Acq by Avalara

Jan-15 TermSync Acq by Esker

Jan-15 ZeroPaper Acq by Intuit

Finance & Accounting > Exit Outlook > Acqui-hires

View all 154 Acqui-hired companies on Tracxn Platform

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Contents

Feed Summary

Investment Trend

Market Details

Exit Outlook

Investors

News

Appendix

140

Details on VC & PE Investors

Details on Top Ecosystem Players






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Finance & Accounting > Investors > Index of Most Active VC & PE Investors

Index of Top Investors (VC, PE) by Stage in Finance & Accounting; Last 5 years (Jan 2013 - Dec 2017)

Index of Most Active VC & PE Investors

SEED STAGE

Y Combinator (14 Investments)

Kima Ventures (4 Investments)

SixThirty (4 Investments)

Point Nine Capital (3 Investments)

Draper Associates (3 Investments)

Seedcamp (3 Investments)

Index Ventures (2 Investments)

DFJ (2 Investments)

General Catalyst Partners (2 Investments)

New Enterprise Associates (2 Investments)

Hyde Park Venture Partners (2 Investments)

Freestyle Capital (2 Investments)

Cultivation Capital (2 Investments)

Anthemis Group (2 Investments)

Blumberg Capital (2 Investments)

EARLY STAGE

Accel Partners (5 Investments)

Bain Capital Ventures (3 Investments)

Emergence Capital (3 Investments)

Insight Venture Partners (3 Investments)

Arbor Ventures (3 Investments)

Greycroft Partners (3 Investments)

Eight Roads Ventures (2 Investments)

Kennet Partners (2 Investments)

First Analysis (2 Investments)

Sequoia Capital (2 Investments)

Main Incubator (2 Investments)

Redalpine (2 Investments)

Mosaik Partners (2 Investments)

Service Provider Capital (2 Investments)

Kibo Ventures (2 Investments)

LATE STAGE

Meritech Capital Partners (3 Investments)

Bain Capital Ventures (2 Investments)

Northgate Capital (2 Investments)

Tiger Global Management (2 Investments)

Luminate Capital Partners (2 Investments)

Caisse de depot et placement du Quebec

Redpoint Ventures

Next World Capital

Battery Ventures

DFJ

Warburg Pincus

Sands Capital Ventures

Vulcan Capital

Bessemer Venture Partners

Tenaya Capital


Y Combinator

143

Portfolio in Finance & Accounting | Exits | Funds Link | Website | LinkedIn | Twitter

Finance & Accounting > Investors > Y Combinator

People

Investments

[Unicorn] Gusto (2011, San Francisco, $176M, Series C)Cloud-based HRMS and payroll management solution

[Soonicorn] GoCardless (2011, London, $47.5M, Series C)Online payments solutions for recurring payments

[Minicorn] Tesorio (2013, Philadelphia, $220k, Seed)An online platform for invoice factoring.

[Editor's Pick] Abacus (2013, New York City, $3.5M, Seed)Employee Expense Reporting Application

[Editor's Pick] PayTango (2012, Mountain View, $700k, Seed)Invoicing platform

Finance & Accounting Notable Portfolio

[Unicorn] Airbnb (2008, San Francisco, $3.4B, Series F)

Marketplace for vacation rental accommodations

[Unicorn] Instacart (2012, San Francisco, $932M, Series D)

Marketplace for same-day grocery delivery

[Unicorn] Dropbox (2007, San Francisco, $607M, Series C)

Cloud-based file sharing and synchronization software

[Unicorn] Zenefits (2013, San Francisco, $584M, Series C)

SaaS HR Platform for SMBs

[Unicorn] Stripe (2010, San Francisco, $473M, Series D)

Web & Mobile Payments for Developers

[Unicorn] Ginkgo Bioworks (2008, Boston, $429M, Series D)

Designs microbes to produce cultured ingredients

[Unicorn] MZ (Machine Zone) (2008, Palo Alto, $263M, Series B)

Mobile game developer

[Unicorn] Docker (2008, San Francisco, $243M, Series E)

LXC based OS-level virtualization technology and PaaS

Other Notable Portfolio

Top Exits

Recent News on Fund & Portfolio

Michael SeibelCEO

Geographical Spread Stage of Entry

Dec 2017Gusto Restaurants Appoints Commercial Director To Drive Expansion, Lunch Business

Nov 2017GoCardless Tops Juniper Leaderboard for Fintech, BankNews

Nov 2017Gusto Appoints Head of Partner Development, Business Wire

Oct 2017Gusto has hired former DocuSign CFO Mike Dinsdale and has an unusual plan to 'train' him, Business Insider

Sep 2017Gusto Introduces First-of-Its-Kind Features and Product Plans to Bring Big Business Capabilities to Small Businesses, Technology Marketing Corporation

Sep 2017GoCardless, a fintech that makes recurring payments easy for subscription businesses, raises $22.5M, TechCrunch

Aug 2017GoCardless and Sage Partner to Open up Access to Direct Debit, Financial IT

Mar 2017Gusto receives £9m backing for expansion, Manchester Evening News

Feb 2017Gusto appoints new General Manager for West Bridgford launch, West Bridgford Wire

None

11

4 43

2

2013 2014 2015 2016 2017 2018

Follow On New Investments2

-

-

-

17

Undisclosed

Series C+

Series B

Series A

Seed18

1

-

-

-

US

Europe

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c06af4e4b09a1f9f132c8b%3Aycombinator.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c06af4e4b09a1f9f132c8b%3Aycombinator.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/srAiTt8Aevx0dkPbmrFdUVl21azd7Gx7AOT8J4fO1Zs/ycombinator.com

http://www.ycombinator.com/

http://linkedin.com/company/y-combinator

http://twitter.com/ycombinator

http://lunchbusiness.co.uk/gusto-restaurants-appoints-commercial-director-drive-expansion

https://www.banknews.com/blog/gocardless-tops-juniper-leaderboard-for-fintech/

http://businesswire.com/news/home/20171121005031/en/Gusto-Appoints-Head-Partner-Development

http://www.businessinsider.com/how-gusto-plans-to-train-new-cfo-mike-dinsdale-2017-10

http://insurance-technology.tmcnet.com/news/2017/09/27/8620264.htm

http://techcrunch.com/2017/09/19/go-gocardless

https://financialit.net/news/payments/gocardless-and-sage-partner-open-access-direct-debit

http://manchestereveningnews.co.uk/business/business-news/gusto-receives-9m-backing-expansion-12688454

http://westbridgfordwire.com/gusto-appoints-new-general-manager-west-bridgford-launch/


Kima Ventures

144


Finance & Accounting > Investors > Kima Ventures

People

Investments

[Unicorn] Docker (2008, San Francisco, $243M, Series E)

LXC based OS-level virtualization technology and PaaS

[Soonicorn] BlueVine (2013, Redwood City, $113M, Series D)

Online invoice factoring company

[Soonicorn] Formlabs (2011, Somerville, $55.8M, Series B)

High-resolution desktop 3D printing

[Soonicorn] PRÊT D'UNION (2009, Issy-les-moulineaux, $52.4M,

Series D)Online platform for P2P lending.

[Soonicorn] Zooz (2010, Tel Aviv, $40.5M, Series C)

Technology payment platform with smart routing facility

[Soonicorn] Wibbitz (2011, Tel Aviv, $30.8M, Series C)

Converts text into videos

[Soonicorn] Lengow (2009, Nantes, $13.3M, Series B)

Marketing and catalog management solution

[Minicorn] iAdvize (2010, Nantes, $56M, Series C)

Customer Engagement Platform

[Minicorn] Tulip (2013, Toronto, $42.4M, Series B)

Tablet based solution for next gen retail

[Minicorn] Rebagg (2014, New York City, $28.3M, Series B)

Reseller of high end designer handbags

[Minicorn] Navdy (2013, San Francisco, $26.5M, Series A)

Voice controllable heads-up display for cars

[Minicorn] AB Tasty (2011, Paris, $23.9M, Series B)

AB Testing SaaS Solution for Marketing Teams.

[Minicorn] Verve (2010, London, $18.5M, Series B)

Peer-to-Peer event promotion software


Top Exits


Jeremie BerrebiCo-Founder

Xavier NielCo-Founder


Oct 2017Fintech Startup eShares Secures $39.1 Million, NewsCenter

Sep 2017AccessPay and Assembly Payments win SWIFT global fintech competition in Singapore, E27

Jul 2017French fintech startup Shine completes a €2.8 million financing round, Tech.eu

Jul 2017 Accel leads Series B round for PayFit, PE Hub

Apr 2017Fintech startup Assembly Payments sets up Melbourne headquarters as it takes on $26 trillion global opportunity, SmartCompany

Feb 2017Alan and PayFit hook up so that your health insurance and payroll work together, TechCrunch

Jan 2017Spendesk grabs $2.2 million for its next-gen corporate cards, TechCrunch

None

2

1

2

2013 2014 2015 2016 2017 2018


-

-

1

4

Undisclosed

Series C+

Series B

Series A

Seed4

3

1

-

-

Europe

US

Australia

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff729ee4b0622455c8dcce%3Akimaventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff729ee4b0622455c8dcce%3Akimaventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/MCFFQruknLzIWrILGIMpDpKcqA6twj-gBJQ6KEFDHbY/kimaventures.com

https://www.kimaventures.com/

http://linkedin.com/company/kima-ventures

http://twitter.com/kimaventures

http://newscenter.io/2017/10/fintech-startup-eshares-secures-39-1-million

https://e27.co/accesspay-assembly-payments-win-swift-global-competition-singapore-20170915/

http://tech.eu/brief/shine-raises-investment/

http://pehub.com/2017/07/accel-leads-series-b-round-for-payfit

http://www.smartcompany.com.au/startupsmart/news-analysis/fintech-startup-assembly-payments-sets-up-melbourne-headquarters-as-it-takes-on-26-trillion-global-opportunity/

http://techcrunch.com/2017/02/07/alan-and-payfit-hook-up-so-that-your-health-insurance-and-payroll-work-together

http://techcrunch.com/2017/01/24/spendesk-grabs-22-million-for-its-next-gen-corporate-cards


SixThirty

145


Finance & Accounting > Investors > SixThirty

Investments

[Minicorn] Ensygnia (2012, London, $6.6M, Series A)

QR-Code based mobile payment solution.

[Minicorn] FinLocker (2015, St. Louis, $3.6M, Seed)

Financial Data Platform to reduce loan origination time

[Minicorn] Hijro (2014, Lexington, $2.5M, Seed)

Software platform for cross-border B2B trade


Top Exits Recent News on Fund & Portfolio


Sep 2017AccessPay and Assembly Payments win SWIFT global fintech competition in Singapore, E27

Apr 2017Fintech startup Assembly Payments sets up Melbourne headquarters as it takes on $26 trillion global opportunity, SmartCompany

Dec 2016Five FinTech startups you should meet before they go big, Fintech Roundup

Jun 2016Australia’s PromisePay, a payment platform for online marketplaces, raises $10M, TechCrunch

Jun 2015PromisePay Raises $2M to Help Online Marketplaces With Payment Processing, TechCrunch

None

2 2

2013 2014 2015 2016 2017 2018


-

-

-

4

Undisclosed

Series C+

Series B

Series A

Seed4

1

-

-

-

US

Australia

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5319a8b0e4b0f7e165fd7893%3Asixthirty.co%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5319a8b0e4b0f7e165fd7893%3Asixthirty.co%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/Lds23P2C-6LLm-FlavNjXeiRuksR8T7vJYeCflQg1N8/sixthirty.co

https://sixthirty.co/

http://linkedin.com/company/sixthirty-financial-technology-accelerator

http://twitter.com/sixthirty_630ft

https://e27.co/accesspay-assembly-payments-win-swift-global-competition-singapore-20170915/

http://www.smartcompany.com.au/startupsmart/news-analysis/fintech-startup-assembly-payments-sets-up-melbourne-headquarters-as-it-takes-on-26-trillion-global-opportunity/

http://fintechroundup.com/five-fintech-startups-meet-go-big/

http://techcrunch.com/2016/06/14/australias-promisepay-a-payment-platform-for-online-marketplaces-raises-10m

https://techcrunch.com/2015/06/24/promisepay-raises-2m-to-help-online-marketplaces-with-payment-processing/


Point Nine Capital

146


Finance & Accounting > Investors > Point Nine Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff72c8e4b0622455c8dd13%3Apointninecap.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff72c8e4b0622455c8dd13%3Apointninecap.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/Q51u6AlW-mS7ByHWmrChkqJXZpw0zS9Bf7O523tdVcg/pointninecap.com

http://www.pointninecap.com/

http://linkedin.com/company/point-nine-capital

http://twitter.com/pointninecap


Draper Associates

147


Finance & Accounting > Investors > Draper Associates

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D54a29f21e4b03c5316c6f219%3Adraper.vc%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D54a29f21e4b03c5316c6f219%3Adraper.vc%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/Km4bjxnjDkqSjE1GOFH-rXZaP-uqrYdvyqKSbGpSDN0/draper.vc

http://draper.vc/

http://twitter.com/drapervc


Seedcamp

148


Finance & Accounting > Investors > Seedcamp

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52df553fe4b07c90e4b08d64%3Aseedcamp.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52df553fe4b07c90e4b08d64%3Aseedcamp.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/5978LaeCfTtI_kFLZX9oSLTkyqZw6XrN7GZPiHgNsYQ/seedcamp.com

http://seedcamp.com/

http://linkedin.com/company/seedcamp_2

http://twitter.com/seedcamp


Index Ventures

149


Finance & Accounting > Investors > Index Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52d36efae4b00c95d62757ce%3Aindexventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52d36efae4b00c95d62757ce%3Aindexventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/ENnixzcSP2Nvl3-xwlYbuSZ6TI4OhwgASzzfaiY8LoU/indexventures.com

https://www.indexventures.com/

http://linkedin.com/company/index-ventures

http://twitter.com/indexventures


DFJ

150


Finance & Accounting > Investors > DFJ

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ef3a0de4b033a23dc725c3%3Adfj.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ef3a0de4b033a23dc725c3%3Adfj.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/JVTfXwXRTzUfg9Ls9U8xD_NcH08ahBDlmYcG87i6y5c/dfj.com

http://dfj.com/

http://linkedin.com/company/draper-fisher-jurvetson

http://twitter.com/dfjvc


General Catalyst Partners

151


Finance & Accounting > Investors > General Catalyst Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f16a0ce4b033a23dc7293d%3Ageneralcatalyst.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f16a0ce4b033a23dc7293d%3Ageneralcatalyst.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/ou595fgJR47OKoZLSzT2nWPdj7tFmxjiK6fl64PtpaI/generalcatalyst.com

http://generalcatalyst.com/

http://linkedin.com/company/general-catalyst-partners

http://twitter.com/gcvp



152


Finance & Accounting > Investors > New Enterprise Associates

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52d0b2e9e4b00c95d6275515%3Anea.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52d0b2e9e4b00c95d6275515%3Anea.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/ybmB7Tn9E5oeNF4VTXQqEHd_ixFHx6_Eq8_TZKOWOdE/nea.com

https://www.nea.com/

http://linkedin.com/company/new-enterprise-associates

http://twitter.com/nea


Hyde Park Venture Partners

153


Finance & Accounting > Investors > Hyde Park Venture Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53008a6ce4b05a7723f3af21%3Ahydeparkvp.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53008a6ce4b05a7723f3af21%3Ahydeparkvp.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/oYU_vrsY2e1BQC5-9YZFvlsf_2a5LHEPR199hXdOvYQ/hydeparkvp.com

http://hydeparkvp.com/

http://linkedin.com/company/hyde-park-venture-partners

http://twitter.com/hydeparkvp


Freestyle Capital

154


Finance & Accounting > Investors > Freestyle Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5319a367e4b0f7e165fcf422%3Afreestyle.vc%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5319a367e4b0f7e165fcf422%3Afreestyle.vc%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/NScZxIukHoQzG32ygYE_fMUkHstz1xQokpP5w1U9-0U/freestyle.vc

http://freestyle.vc/

http://linkedin.com/company/freestyle-capital

http://twitter.com/freestylevc


Cultivation Capital

155


Finance & Accounting > Investors > Cultivation Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5300905be4b05a7723f3bfe8%3Acultivationcapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5300905be4b05a7723f3bfe8%3Acultivationcapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/K0xS2ug69sHhpEHPPif56_mVnsNLFe4cJJCfvucZELE/cultivationcapital.com

https://cultivationcapital.com/

http://linkedin.com/company/cultivation-capital

http://twitter.com/cultivationcap


Anthemis Group

156


Finance & Accounting > Investors > Anthemis Group

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff9ad3e4b0622455c91c5e%3Aanthemis.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff9ad3e4b0622455c91c5e%3Aanthemis.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/NC8bw70MIsuDiPZ4jngg8tvzS5M8KQWFx-sgUqPnGFg/anthemis.com

http://www.anthemis.com/

http://linkedin.com/company/anthemis-group-sa

http://twitter.com/anthemis


Blumberg Capital

157


Finance & Accounting > Investors > Blumberg Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff88eee4b0622455c9021f%3Ablumbergcapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff88eee4b0622455c9021f%3Ablumbergcapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/Q_rhhtWTcxyp0iZCU93PzqYASVBJzZ5AvbdQLvwo1qo/blumbergcapital.com

http://www.blumbergcapital.com/

http://linkedin.com/company/blumberg-capital

http://twitter.com/blumbergcapital


Accel Partners

158


Finance & Accounting > Investors > Accel Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c1135be4b0687d76705031%3Aaccel.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c1135be4b0687d76705031%3Aaccel.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/asmY3flzarkQxfcinnBYuT9nvo9mQ5zLGe6iamfHrmQ/accel.com

https://www.accel.com/

http://linkedin.com/company/accel-partners

http://twitter.com/accel


Bain Capital Ventures

159


Finance & Accounting > Investors > Bain Capital Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e8ef17e4b0ec349049a14c%3Abaincapitalventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e8ef17e4b0ec349049a14c%3Abaincapitalventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/tK2yBRb2aOkPVLKkreJojV6J30Z0yT4WYo7_zogPQ0w/baincapitalventures.com

https://www.baincapitalventures.com/

http://linkedin.com/company/bain-capital-ventures

http://twitter.com/baincapvc


Emergence Capital

160


Finance & Accounting > Investors > Emergence Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e8e2f0e4b0ec349049a12e%3Aemcap.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e8e2f0e4b0ec349049a12e%3Aemcap.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/4GOqgGbYY2NR0vfJDUwQYXqUaMBjOEbAjskC-PTp1Z0/emcap.com

http://www.emcap.com/

http://linkedin.com/company/emergence-capital-partners

http://twitter.com/emergencecap



161


Finance & Accounting > Investors > Insight Venture Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c55281e4b03a1193597e51%3Ainsightpartners.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c55281e4b03a1193597e51%3Ainsightpartners.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/IKgQL2XMlT2uBV5aPhdKHA1mS8wk6ciclNRIOUVJ_zM/insightpartners.com

https://www.insightpartners.com/

http://linkedin.com/company/insight-venture-partners

http://twitter.com/insightpartners


Arbor Ventures

162


Finance & Accounting > Investors > Arbor Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318ca3ce4b0f7e165e86468%3Aarborventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318ca3ce4b0f7e165e86468%3Aarborventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/_gsE3qwmeoCCu042qRVPp5WW0mlmguOmo9DRW-FW96o/arborventures.com

http://arborventures.com/

http://linkedin.com/company/arbor-partners-asia

http://twitter.com/arborventures1


Greycroft Partners

163


Finance & Accounting > Investors > Greycroft Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52d3ceefe4b07c90e4b08179%3Agreycroft.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52d3ceefe4b07c90e4b08179%3Agreycroft.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/WeOK38Yv11W9rTsU3YPLcNkWeH12-0iO2xAoDVuXZok/greycroft.com

https://www.greycroft.com/

http://linkedin.com/company/greycroft-partners

http://twitter.com/greycroftvc


Eight Roads Ventures

164


Finance & Accounting > Investors > Eight Roads Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D55ed3144e4b0d6931b89b77b%3Aeightroads.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D55ed3144e4b0d6931b89b77b%3Aeightroads.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/AnFuql2sxip4LevQGTog-wFdqmhY0-n57YsPgqJ0AKU/eightroads.com

https://eightroads.com/

http://linkedin.com/company/eight-roads

http://twitter.com/8roadsventures


Kennet Partners

165


Finance & Accounting > Investors > Kennet Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ffa5e5e4b0622455c92c84%3Akennet.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ffa5e5e4b0622455c92c84%3Akennet.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/1Llgj0JdmoV8cDXD-KKIMxrx8P5JHWiNh7UKscEkz4U/kennet.com

https://www.kennet.com/

http://linkedin.com/company/kennet-partners

http://twitter.com/kennetpartners


First Analysis

166


Finance & Accounting > Investors > First Analysis

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53023f37e4b0c6aef60c31a9%3Afirstanalysis.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53023f37e4b0c6aef60c31a9%3Afirstanalysis.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/1BOIVdpF2jbDJ05ns87Zj5awbNgH7LVLTmWZqPUgXqk/firstanalysis.com

http://firstanalysis.com/

http://linkedin.com/company/first-analysis

http://twitter.com/firstanalysis


Sequoia Capital

167


Finance & Accounting > Investors > Sequoia Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ced274e4b0d79f12aef813%3Asequoiacap.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ced274e4b0d79f12aef813%3Asequoiacap.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/PuyKDxi6s4MDikTH69gcgffRRQgfBSRZ057M1u-naxU/sequoiacap.com

https://www.sequoiacap.com/

http://linkedin.com/company/sequoia

http://twitter.com/sequoia


Redalpine

168


Finance & Accounting > Investors > Redalpine

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318ffcee4b0f7e165edfea4%3Aredalpine.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318ffcee4b0f7e165edfea4%3Aredalpine.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/orbsjpT5sSUtJjl71y5A22zQDH7gpzPHssgKtj_kKNU/redalpine.com

http://redalpine.com/

http://linkedin.com/company/redalpine-venture-partners-ag

http://twitter.com/redalpine


Mosaik Partners

169


Finance & Accounting > Investors > Mosaik Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53b254e2e4b0167e5ed4094a%3Amosaikpartners.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53b254e2e4b0167e5ed4094a%3Amosaikpartners.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/zpZeznCPF0Fet1JmfAK0WNeqsyB_864cgSFccB1MrPQ/mosaikpartners.com

http://mosaikpartners.com/

http://linkedin.com/company-beta/5838688

http://twitter.com/mosaikpartners


Service Provider Capital

170


Finance & Accounting > Investors > Service Provider Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D546b25dce4b08dcc0590b732%3Aserviceprovidercapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D546b25dce4b08dcc0590b732%3Aserviceprovidercapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/6gXtRwWfxNOzVQgl7kORIUn44vDVm_GzsaG9-rXFJXk/serviceprovidercapital.com

http://serviceprovidercapital.com/

http://linkedin.com/company/service-provider-capital

http://twitter.com/spc_fund


Kibo Ventures

171


Finance & Accounting > Investors > Kibo Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff77bce4b0622455c8e590%3Akiboventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff77bce4b0622455c8e590%3Akiboventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/hjmKq0y8BYM-7l-ykETX1tNDOshK59QUp6jpihDt5YM/kiboventures.com

http://kiboventures.com/

http://linkedin.com/company/kibo-ventures

http://twitter.com/kiboventures


Meritech Capital Partners

172


Finance & Accounting > Investors > Meritech Capital Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff36ace4b0b193ed664d93%3Ameritechcapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff36ace4b0b193ed664d93%3Ameritechcapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/13XsmeqSpeICKM7irjm1H9sP9mz8dt-SQIf9UnwQ6Tc/meritechcapital.com

http://www.meritechcapital.com/

http://linkedin.com/company/6222723

http://twitter.com/meritechcapital


Bain Capital Ventures

173


Finance & Accounting > Investors > Bain Capital Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e8ef17e4b0ec349049a14c%3Abaincapitalventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e8ef17e4b0ec349049a14c%3Abaincapitalventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/tK2yBRb2aOkPVLKkreJojV6J30Z0yT4WYo7_zogPQ0w/baincapitalventures.com

https://www.baincapitalventures.com/

http://linkedin.com/company/bain-capital-ventures

http://twitter.com/baincapvc


Northgate Capital

174


Finance & Accounting > Investors > Northgate Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff7781e4b0622455c8e4f1%3Anorthgate.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff7781e4b0622455c8e4f1%3Anorthgate.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/1sdVuXN9zeBa5v-b3FSxtrIPH7YVnYzkRunxdv2-bzI/northgate.com

http://northgate.com/

http://linkedin.com/company/northgate-capital


Tiger Global Management

175


Finance & Accounting > Investors > Tiger Global Management

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f32d02e4b033a23dc72bae%3Atigerglobal.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f32d02e4b033a23dc72bae%3Atigerglobal.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/LfyJjSFXSdee9IX78-VFIcd0m5Ek6iJX9n_48oTnvFc/tigerglobal.com

http://tigerglobal.com/

http://linkedin.com/company/tiger-global-management


Luminate Capital Partners

176


Finance & Accounting > Investors > Luminate Capital Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D554cbb2ee4b01454212323b3%3Aluminatecapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D554cbb2ee4b01454212323b3%3Aluminatecapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/cyLX0-GThQdzPHFMCx0jPpKCkgXYyvQ17BYeNT3GECk/luminatecapital.com

http://luminatecapital.com/

http://linkedin.com/company/luminate-capital-partners


Caisse de depot et placement du Quebec

177


Finance & Accounting > Investors > Caisse de depot et placement du Quebec

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D55c2a295e4b0bd895b8b5166%3Acdpq.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D55c2a295e4b0bd895b8b5166%3Acdpq.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/bl2u1ggh1Wh26bO2n_pGgmY8zCUKq3_NO2BGNe73h6c/cdpq.com

https://www.cdpq.com/fr

http://linkedin.com/company/cdpq

http://twitter.com/lacdpq


Redpoint Ventures

178


Finance & Accounting > Investors > Redpoint Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ca38c7e4b093852fc327be%3Aredpoint.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ca38c7e4b093852fc327be%3Aredpoint.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/Rcp4SB-gkNLuo4kt_cZ8szMiL-2HnLt-XOv-UhiE9Sw/redpoint.com

http://www.redpoint.com/

http://linkedin.com/company/redpointventures

http://twitter.com/redpointvc


Next World Capital

179


Finance & Accounting > Investors > Next World Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52def8bee4b07c90e4b08d25%3Anextworldcap.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52def8bee4b07c90e4b08d25%3Anextworldcap.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/0JuQz2ZH2cu6D4O41P1FGSW2aHWyKEFaNVUerFbdj2I/nextworldcap.com

https://www.nextworldcap.com/


http://twitter.com/nextworldcap


Battery Ventures

180


Finance & Accounting > Investors > Battery Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f5e9cae4b033a23dc73121%3Abattery.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f5e9cae4b033a23dc73121%3Abattery.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/B3ttdnsnUVhXHWlsaROsYWD2ASc5oTxl8wWsvKdi59I/battery.com

https://www.battery.com/

http://linkedin.com/company/battery-ventures

http://twitter.com/batteryventures


DFJ

181


Finance & Accounting > Investors > DFJ

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ef3a0de4b033a23dc725c3%3Adfj.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ef3a0de4b033a23dc725c3%3Adfj.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/JVTfXwXRTzUfg9Ls9U8xD_NcH08ahBDlmYcG87i6y5c/dfj.com

http://dfj.com/

http://linkedin.com/company/draper-fisher-jurvetson

http://twitter.com/dfjvc


Warburg Pincus

182


Finance & Accounting > Investors > Warburg Pincus

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff6a33e4b0f5316e5aa1a3%3Awarburgpincus.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff6a33e4b0f5316e5aa1a3%3Awarburgpincus.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/jHKdHQF7qSbk9BXd39_y9TVE_zYGEPsZXNeFW_l0V7I/warburgpincus.com

http://www.warburgpincus.com/

http://linkedin.com/company/warburg-pincus

http://twitter.com/warburgpincus


Sands Capital Ventures

183


Finance & Accounting > Investors > Sands Capital Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5625f73ae4b09648f887535e%3Asandscapitalventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5625f73ae4b09648f887535e%3Asandscapitalventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/aLnIWAb1k5RwTMfe4QfSrM_60-EyTcym9ewQDbM0AYk/sandscapitalventures.com

https://sandscapitalventures.com/

http://linkedin.com/company/sands-capital-venture


Vulcan Capital

184


Finance & Accounting > Investors > Vulcan Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D54a79877e4b059d1157945be%3Acapital.vulcan.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D54a79877e4b059d1157945be%3Acapital.vulcan.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/xzMNPZ6CPfkRLZDnKk0xnDq52yXa6JYx_qNt9dWqLrI/capital.vulcan.com

http://capital.vulcan.com/


http://twitter.com/vulcaninc


Bessemer Venture Partners

185


Finance & Accounting > Investors > Bessemer Venture Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52cd2fc2e4b093852fc32e48%3Abvp.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52cd2fc2e4b093852fc32e48%3Abvp.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/OWFH2mkG8eq9fujc6ieBBBKpaCrCeXY3GVQHwV8uOLk/bvp.com

https://www.bvp.com/

http://linkedin.com/company/bessemer-venture-partners

http://twitter.com/bessemervp


Tenaya Capital

186


Finance & Accounting > Investors > Tenaya Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff639fe4b0f5316e5a9456%3Atenayacapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff639fe4b0f5316e5a9456%3Atenayacapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/7uW0UftZjmoevzbQfrABr8FJdrfg4Ltv9p0w0iD51kg/tenayacapital.com

http://www.tenayacapital.com/

http://linkedin.com/company/tenaya-capital


Finance & Accounting > Investors > Index of Ecosystem Investors

Index of Top Ecosystem Investors in Finance & Accounting; Q0 2013 - Q3 2017

Index of Ecosystem Investors

INCUBATOR

500 Startups (13 Investments)

Techstars (10 Investments)

Barclays Accelerator (3 Investments)

BlueChilli (3 Investments)

Boost VC (3 Investments)

Startup Sauna (3 Investments)

Jumpstart (2 Investments)

MEST (2 Investments)

Prime Venture Partners (2 Investments)

Speedinvest (2 Investments)

Acceleprise

Accelerator Centre

Alchemist Accelerator

AlphaLab

Amplify

OTHER NOTABLE INVESTORS

FundersClub (7 Investments)

BDC Capital (6 Investments)

Plug and Play Tech Center (6 Investments)

Salesforce (5 Investments)

Fifth Third Bancorp (4 Investments)

Ribbit Capital (4 Investments)

SaaS Capital (4 Investments)

Startupbootcamp (4 Investments)

Technology Crossover Ventures (4

Investments)

American Express (3 Investments)

Daher Capital (3 Investments)

HSBC Group (3 Investments)

Iconiq Capital (3 Investments)

Main Capital Partners (3 Investments)

Mainsail Partners (3 Investments)

DEBT INVESTORS

Silicon Valley Bank (6 Investments)

BEST Funds (2 Investments)

Crystal Financial

Finance Birmingham

Hercules Capital

Leader Ventures

MidCap Financial

PMV

Wellington Financial


500 Startups

188


Finance & Accounting > Investors > 500 Startups

People

Investments

[Editor's Pick] AppZen (2012, Sunnyvale, $17.5M, Series A)Personal Assistant for Expense Management

[Editor's Pick] Spotdraft (2016, Gurgaon, $536k, Seed)Cloud-based AI-enabled contract creator and invoice sending platform.

[Editor's Pick] ContaAzul (2011, Joinville, Series C)SaaS accounting and invoicing solutions for SMBs


[Unicorn] Grab (2012, Singapore, $1.4B, Series G)

Taxi Booking App

[Unicorn] Credit Karma (2007, San Francisco, $370M, Series D)

Aggregator of various consumer financial products.

[Unicorn] Twilio (2007, San Francisco, $240M, Public)

Cloud Communications API provider

[Soonicorn] Udemy (2010, San Francisco, $173M, Series D)

Marketplace for online courses

[Soonicorn] Smule (2008, San Francisco, $144M, Series F)

Developer of social music-making & sharing apps

[Soonicorn] Intercom (2011, San Francisco, $116M, Series D)

Customer communication and Retention Platform

[Soonicorn] Ipsy (2011, San Mateo, $107M, Series B)

Subscription for beauty products

[Soonicorn] Life360 (2008, San Francisco, $94.6M, Series C)

Mobile app that connects family members and close friends

[Soonicorn] VTS (2011, New York City, $87.8M, Series C)

Leasing and asset management software for brokers, investors & owners.

[Soonicorn] SendGrid (2009, Boulder, $80.5M, Public)

Email delivery and analytics


Top Exits


Dave McClureFounder, Partner


Dec 2017Adyen and Recurly Team Up to Help Subscription Businesses Expand Globally, PR Newswire

Nov 2017AppZen Secures $13M in Series A Funding from Redpoint Ventures to Transform Back Office Automation with Artificial Intelligence, Business Wire

Jul 2017 Recurly Announces Integration with Xero, PR Newswire

Mar 2017 AuditFile now integrates with Xero, Accounting Today

Feb 2017Recurly Announces Integration with QuickBooks Online, PR Newswire

Aug 2016The House Fund unveils Berkeley startup incubator and $2 million philanthropic round, VentureBeat

Jul 2016 BotBeat: This week’s top bot stories, VentureBeat

Jun 2016Talent Practices Of One Of The Bay Area's Hottest Companies, Forbes

May 2016How Jessica Mah Burned Through $1 Million in Funding and Restarted Everything From Scratch, Inc.

May 2016Why Almost 90 Percent of Startups Don't Know How to Handle Their Money, Inc.

Apr 2016How a No-Nonsense Mentor (and Disney World) Helped Save Jessica Mah's 'Doomed' Business, Inc.

None

1 1 1

2

2

2

2

2013 2014 2015 2016 2017 2018


-

-

4

10

Undisclosed

Series C+

Series B

Series A

Seed10

3

2

1

1

US

Latam

SEA

India

Europe

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e132b4e4b085ca84ebc32e%3A500.co%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52e132b4e4b085ca84ebc32e%3A500.co%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/runQgYmPnMdNqjVIv7_robeQ3fLVjr6Aq-eMtX2s2O0/500.co

https://500.co/

http://linkedin.com/company/500-startups

http://twitter.com/500startups

https://www.prnewswire.com/news-releases/adyen-and-recurly-team-up-to-help-subscription-businesses-expand-globally-300569774.html

http://businesswire.com/news/home/20171101005817/en/AppZen-Secures-13M-Series-Funding-Redpoint-Ventures

http://www.prnewswire.com/news-releases/recurly-announces-integration-with-xero-300492470.html

http://www.accountingtoday.com/news/auditfile-now-integrates-with-xero?feed=00000152-a2fb-d118-ab57-b3ff6e310000

http://www.prnewswire.com/news-releases/recurly-announces-integration-with-quickbooks-online-300402945.html

http://venturebeat.com/2016/08/24/the-house-fund-unveils-berkeley-startup-incubator-and-2-million-philanthropy-round

http://venturebeat.com/2016/07/07/botbeat-top-bot-stories-2

http://forbes.com/sites/jacobmorgan/2016/06/20/talent-practices-of-one-of-the-bay-areas-hottest-companies/#421bd5cf34c1

http://inc.com/jessica-mah/how-i-burned-through-one-million-dollars-and-restarted-from-scratch.html

http://inc.com/chris-myers/why-less-than-10-of-startups-know-how-to-handle-their-money.html

http://inc.com/kimberly-weisul/how-disney-world-and-marriage-counseling-helped-save-jessica-mahs-doomed-business.html


Techstars

189


Finance & Accounting > Investors > Techstars

People

Investments

[Minicorn] B2B Pay (2015, Berlin, Funded)European B2B payment transfer services


[Unicorn] Uber (2009, San Francisco, $12B, Series H)

Mobile app that connects passengers with vehicle drivers for hire

[Unicorn] Twilio (2007, San Francisco, $240M, Public)

Cloud Communications API provider

[Soonicorn] Remitly (2011, Seattle, $215M, Series D)

Cross-border money transfer using banking networks.

[Soonicorn] ClassPass (2011, New York City, $154M, Series C)

Membership programs for fitness classes across multiple gyms

[Soonicorn] DataRobot (2012, Boston, $125M, Series C)

Automated machine learning platform for data science applications

[Soonicorn] DigitalOcean (2011, New York City, $124M, Series

B)SSD cloud hosting

[Soonicorn] Placester (2008, Cambridge, $101M, Series D)

Real Estate Marketing platform

[Soonicorn] Sphero (2010, Boulder, $95.5M, Series D)

Smartphone controlled robotic gaming toy for kids

[Soonicorn] PillPack (2013, Boston, $93.9M, Series D)

Periodic delivery of Medications - Subscription based

[Soonicorn] SendGrid (2009, Boulder, $80.5M, Public)

Email delivery and analytics

[Soonicorn] Threat Stack (2012, Massachusetts, $72.2M, Series

C)Continuous monitoring & security of workloads running in AWS


Top Exits


Brad FeldCo-Founder

David BrownCo-Founder and co-CEO

David CohenFounder and co-CEO


Dec 2017ScaleFactor Expands Executive Team with SaaS Revenue Veteran, Business Wire

Nov 2017ScaleFactor Secures $2.5M in Seed Funding to Modernize Accounting for Small Businesses, Business Wire

Sep 2017YayPay Raises $5.3M In Funding On Its Quest To Turn Finance Teams Into Revenue Heroes, PR Newswire

Jul 2017Automated Accounting Company Bokio Raises €3.1m Series Seed Led by Creandum, ArcticStartup

May 2017Bench Partners with Stripe to Better Serve US Small Businesses, PRWeb

May 2017YayPay introduces cash flow forecasts for accounts receivable, TechCrunch

Feb 2017YayPay Uses AI to Revolutionize the Finance Back Office, PRWeb

Dec 2016Five FinTech startups you should meet before they go big, Fintech Roundup

Dec 2016YayPay wants to help big companies deal with accounts receivable, TechCrunch

Dec 2016level Accounts Receivable Automation Software, PR Newswire

None

12

12

1

3

2013 2014 2015 2016 2017 2018


-

-

-

8

Undisclosed

Series C+

Series B

Series A

Seed5

4

2

-

-

US

Europe

Canada

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff603be4b0f5316e5a8ece%3Atechstars.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff603be4b0f5316e5a8ece%3Atechstars.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/X9SJastlBrj2FtVkv0mL7OLHL3J27mHWe0kY0ds4iPo/techstars.com

https://www.techstars.com/

http://linkedin.com/company/techstars

http://twitter.com/techstars

http://businesswire.com/news/home/20171207005082/en/ScaleFactor-Expands-Executive-Team-SaaS-Revenue-Veteran

http://www.businesswire.com/news/home/20171109005144/en/ScaleFactor-Secures-2.5M-Seed-Funding-Modernize-Accounting/

http://www.prnewswire.com/news-releases/yaypay-raises-53m-in-funding-on-its-quest-to-turn-finance-teams-into-revenue-heroes-300518466.html

http://arcticstartup.com/article/automated-accounting-company-bokio-raises-e3-1m-series-seed-led-creandum/


https://techcrunch.com/2017/05/12/yaypay-introduces-cash-flow-forecasts-for-accounts-receivable/


http://fintechroundup.com/five-fintech-startups-meet-go-big/

http://techcrunch.com/2016/12/01/yaypay-wants-to-help-big-companies-deal-with-accounts-receivable

http://www.prnewswire.com/news-releases/yaypay-launches-enterprise-level-accounts-receivable-automation-software-300371324.html


Barclays Accelerator

190


Finance & Accounting > Investors > Barclays Accelerator

Investments

[Minicorn] PQ Solutions (2009, London, $11.6M, Series A)

Post quantum encryption based data and communication security

[Minicorn] Aire (2014, London, $8.4M, Series A)

Company offering credit scores to individuals using machine learning algorithms.

[Minicorn] Ravelin Technology (2014, London, $5.6M, Series

A)Machine learning based fraud prevention platform

[Minicorn] Everledger (2015, London, $120k, Seed)

Preventing diamond fraud and theft


Top Exits Recent News on Fund & Portfolio


Jan 2016Cashforce raises € 1 million from Volta Ventures & Michel Akkermans (ex-Clear2Pay), Cashforce

Jul 2015Cashforce part of Barclays Accelerator – Powered by Techstars 2015, Cashforce

Sep 2014Barclays Debut London Fintech Cohort Eyes Real Estate, Wider Access And Hardware, TechCrunch

None

1 1

2013 2014 2015 2016 2017 2018

Follow On New Investments-

-

-

-

3

Undisclosed

Series C+

Series B

Series A

Seed2

1

-

-

-

Europe

US

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D531c0a1ae4b0f7e1663a0a65%3Abarclaysaccelerator.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D531c0a1ae4b0f7e1663a0a65%3Abarclaysaccelerator.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/Tif5FU-N3Dbqy9QhJskrTJxCaFf3fpACZcejhu9Vq6A/barclaysaccelerator.com

http://barclaysaccelerator.com/

http://blog.cashforce.com/cashforce-an-innovative-fintech-start-up-raises-e-1-million-from-volta-ventures-michel-akkermans/

http://blog.cashforce.com/cashforce-part-of-barclays-accelerator-powered-by-techstars-2015/

https://techcrunch.com/2014/09/30/barclays-accelerator-2014-cohort/


Boost VC

191


Finance & Accounting > Investors > Boost VC

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530b3455e4b04a0cb16a3c8e%3Aboost.vc%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530b3455e4b04a0cb16a3c8e%3Aboost.vc%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/Dx_k6qBvkMvnDNb1egj-b-KYDOswg46G7PRv1bDJad4/boost.vc

https://www.boost.vc/

http://linkedin.com/company/boost-vc

http://twitter.com/boostvc


Startup Sauna

192


Finance & Accounting > Investors > Startup Sauna

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5302ea5de4b0f55f260a639e%3Astartupsauna.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5302ea5de4b0f55f260a639e%3Astartupsauna.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/AUc7w2xpzGbNh-wstS9TSR8_aSpRRK0FeJMU5qs_pUg/startupsauna.com

http://startupsauna.com/


http://twitter.com/startupsauna


Jumpstart

193


Finance & Accounting > Investors > Jumpstart

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53009061e4b05a7723f3c000%3Ajumpstartinc.org%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53009061e4b05a7723f3c000%3Ajumpstartinc.org%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/jnVZkIyytgjTovoXfcjl4l0f3dvP_dLqPagEhy7bUXc/jumpstartinc.org

https://www.jumpstartinc.org/


http://twitter.com/jumpstartinc


Prime Venture Partners

194


Finance & Accounting > Investors > Prime Venture Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D56f5fa2de4b06a3bb3de15b3%3Aprimevp.in%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D56f5fa2de4b06a3bb3de15b3%3Aprimevp.in%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/OHLdvmu7iHl46A9avEnwDIMLJGjAvyUCgf1OJ-xkob4/primevp.in

http://primevp.in/


http://twitter.com/primevp_in


Speedinvest

195


Finance & Accounting > Investors > Speedinvest

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530dcd54e4b085b6b112de38%3Aspeedinvest.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530dcd54e4b085b6b112de38%3Aspeedinvest.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/CGNGUYPBS5rodmP9sWLzf6hQcEAJuKlv8AqpgTAAol8/speedinvest.com

http://speedinvest.com/

http://linkedin.com/company/speedinvest

http://twitter.com/speedinvest


Acceleprise

196


Finance & Accounting > Investors > Acceleprise

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff7c8ce4b0622455c8eb65%3Aacceleprise.vc%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff7c8ce4b0622455c8eb65%3Aacceleprise.vc%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/32DwRlFx2WY6xCOd1rocvdzXjBN3jLdVC7E0pEJ9sI4/acceleprise.vc

http://acceleprise.vc/

http://linkedin.com/company/acceleprise

http://twitter.com/acceleprise


Alchemist Accelerator

197


Finance & Accounting > Investors > Alchemist Accelerator

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530093cfe4b05a7723f3cb9d%3Aalchemistaccelerator.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530093cfe4b05a7723f3cb9d%3Aalchemistaccelerator.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/BSnymLM7yUsc5Sw1dGwjpC_QTe5SVqMJiWFUtMEE58o/alchemistaccelerator.com

http://alchemistaccelerator.com/

http://linkedin.com/company/alchemist-accelerator

http://twitter.com/alchemistacc


Amplify

198


Finance & Accounting > Investors > Amplify

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53187ac3e4b01c90cfdbaa5f%3Aamplify.la%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53187ac3e4b01c90cfdbaa5f%3Aamplify.la%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/_SH_v3pSHWT7x1oD6P-1GWZ8Uk6qIwZaaLaIFkvR-Zo/amplify.la

http://amplify.la/

http://linkedin.com/company/amplify-la

http://twitter.com/amplifyla


FundersClub

199


Finance & Accounting > Investors > FundersClub

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff75ece4b0622455c8e201%3Afundersclub.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff75ece4b0622455c8e201%3Afundersclub.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/K2xZy8SHIWf4KkBoJrsq6NaWMkbNU6bMoQ05VkHXQrQ/fundersclub.com

https://fundersclub.com/

http://linkedin.com/company/fundersclub

http://twitter.com/fundersclub


BDC Capital

200


Finance & Accounting > Investors > BDC Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff87a6e4b0622455c8ffdb%3Abdc.ca%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff87a6e4b0622455c8ffdb%3Abdc.ca%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/omq1XSOkOLJdO8CwQ4Fa1bBCqmX4xgBgGN7cuAIv1N0/bdc.ca

http://bdc.ca/

http://linkedin.com/company/bdc

http://twitter.com/bdc_news


Plug and Play Tech Center

201


Finance & Accounting > Investors > Plug and Play Tech Center

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff6135e4b0f5316e5a909a%3Aplugandplaytechcenter.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff6135e4b0f5316e5a909a%3Aplugandplaytechcenter.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/FLn81cuWYMAwkC0LcCHFDKzC75kv8589JSTf7-m3G9I/plugandplaytechcenter.com

http://plugandplaytechcenter.com/

http://linkedin.com/company/plug-and-play-tech-center


Salesforce

202


Finance & Accounting > Investors > Salesforce

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52cbdd3fe4b093852fc32b66%3Asalesforce.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52cbdd3fe4b093852fc32b66%3Asalesforce.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/ud06LqkYhJ0Ti13YvXEhCSarkG5x9ZFXGdpWNrgWf4c/salesforce.com

https://www.salesforce.com/

http://linkedin.com/company/salesforce

http://twitter.com/salesforce


Fifth Third Bancorp

203


Finance & Accounting > Investors > Fifth Third Bancorp

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53008fd6e4b05a7723f3be5a%3A53.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53008fd6e4b05a7723f3be5a%3A53.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/qBM2cbo13t-GyOs6QF2wwf9ABFs0Dz4n_NWwGcuFqcI/53.com

https://www.53.com/content/fifth-third/en.html

http://linkedin.com/company/fifth-third-bank

http://twitter.com/fifththird


Ribbit Capital

204


Finance & Accounting > Investors > Ribbit Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff68a6e4b0f5316e5a9eaa%3Aribbitcap.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff68a6e4b0f5316e5a9eaa%3Aribbitcap.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/DLCBEkYQafiCKl0kR1eaNR2BNfhVcfhQFhh9LtyZs9o/ribbitcap.com

http://ribbitcap.com/

http://linkedin.com/company/ribbit-capital

http://twitter.com/ribbitcapital


SaaS Capital

205


Finance & Accounting > Investors > SaaS Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5315891ce4b0493e538d5d5d%3Asaas-capital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5315891ce4b0493e538d5d5d%3Asaas-capital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/w-KjwpDa85fQk--M9S0hptItZPiSC8FIPArqk0bcpvo/saas-capital.com

https://www.saas-capital.com/

http://linkedin.com/company/saas-capital

http://twitter.com/saascapital


Startupbootcamp

206


Finance & Accounting > Investors > Startupbootcamp

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff9fe0e4b0622455c92390%3Astartupbootcamp.org%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff9fe0e4b0622455c92390%3Astartupbootcamp.org%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/UQfqp15ZIjbi2pgJ0xZJyUiyw1MRCy1GLSXV89P9dJw/startupbootcamp.org

https://www.startupbootcamp.org/

http://linkedin.com/company/startupbootcamp

http://twitter.com/sbootcamp


Technology Crossover Ventures

207


Finance & Accounting > Investors > Technology Crossover Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff63e9e4b0f5316e5a9501%3Atcv.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff63e9e4b0f5316e5a9501%3Atcv.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/0yAgQZNcjqm-tmiLTIGq8NUtXeBwLNmvewRtSo1svc4/tcv.com

https://www.tcv.com/

http://linkedin.com/company/technology-crossover-ventures

http://twitter.com/tcvtech


American Express

208


Finance & Accounting > Investors > American Express

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c4fec2e4b03a1193597dcb%3Aamericanexpress.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c4fec2e4b03a1193597dcb%3Aamericanexpress.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/3NFE10mIwKXnlWKCWirbeimXhg8j6o2WYwFsztRV83c/americanexpress.com

https://www.americanexpress.com/


http://twitter.com/americanexpress


Daher Capital

209


Finance & Accounting > Investors > Daher Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff9abee4b0622455c91c3b%3Adahercapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff9abee4b0622455c91c3b%3Adahercapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/QD2Mv7dHspfs2Of16uVUBU1L3pv-ZFUF30CaubiPlDU/dahercapital.com

https://twitter.com/dahercapital/lists/venture-portfolio/members

http://linkedin.com/company/daher-capital

http://twitter.com/dahercapital


HSBC Group

210


Finance & Accounting > Investors > HSBC Group

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c7b77ce4b093852fc325c5%3Ahsbc.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52c7b77ce4b093852fc325c5%3Ahsbc.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/roZpla0EN7iSyY8Mq0rPBJh3skqcqKBDhzxOiOFvIMA/hsbc.com

http://www.hsbc.com/

http://linkedin.com/company/hsbc

http://twitter.com/hsbc


Iconiq Capital

211


Finance & Accounting > Investors > Iconiq Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff6ad8e4b0f5316e5aa2b9%3Aiconiqcapital.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff6ad8e4b0f5316e5aa2b9%3Aiconiqcapital.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/mQ5goJndU846p0qALkjIKoZOpFM8jM0BHDs2HS9iHts/iconiqcapital.com

http://iconiqcapital.com/

http://linkedin.com/company/iconiq-capital-llc

http://twitter.com/iconiq_capital


Mainsail Partners

212


Finance & Accounting > Investors > Mainsail Partners

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5300914de4b05a7723f3c322%3Amainsailpartners.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5300914de4b05a7723f3c322%3Amainsailpartners.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/SI1n_-7jbU2Ldt6j8embh_5bPIuadkk1lJGl2jMqDGc/mainsailpartners.com

http://www.mainsailpartners.com/

http://linkedin.com/company/mainsail-partners


Silicon Valley Bank

213


Finance & Accounting > Investors > Silicon Valley Bank

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f86ed8e4b033a23dc7334c%3Asvb.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52f86ed8e4b033a23dc7334c%3Asvb.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/E3GL77cZFsOGcHX1blQnqZTVr3iEgGgWm6pzLWd2Ww0/svb.com

https://www.svb.com/

http://linkedin.com/company/silicon-valley-bank?trk=prof-following-company-logo

http://twitter.com/svb_financial


BEST Funds

214


Finance & Accounting > Investors > BEST Funds

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530e0d4fe4b085b6b112df1e%3Abestfunds.ca%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D530e0d4fe4b085b6b112df1e%3Abestfunds.ca%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/wdepXNgu0xHuuzW-Xa6DL7BbJH9dUFWq_C0zAG9pc4A/bestfunds.ca

http://bestfunds.ca/


http://twitter.com/bestfunds


Crystal Financial

215


Finance & Accounting > Investors > Crystal Financial

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53194395e4b0f7e165f4be31%3Acrystalfinco.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53194395e4b0f7e165f4be31%3Acrystalfinco.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/J3i6NqtXyzRX6BnFK5HKmXS1t98-7DEvg-GRPcTlNI0/crystalfinco.com

http://crystalfinco.com/

http://linkedin.com/company/crystal-financial-llc

http://twitter.com/crystalfinco


Hercules Capital

216


Finance & Accounting > Investors > Hercules Capital

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53008e94e4b05a7723f3ba0c%3Ahtgc.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D53008e94e4b05a7723f3ba0c%3Ahtgc.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/l2DJ87FPRXGIjCbaSkqNiXwY5SE2X3jo3r5JryXMETQ/htgc.com

https://www.htgc.com/



Leader Ventures

217


Finance & Accounting > Investors > Leader Ventures

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318d784e4b0f7e165e9c8a3%3Aleaderventures.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318d784e4b0f7e165e9c8a3%3Aleaderventures.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/LuIbuG9EB4CCR1N7Qv2_CaaV5_XTTfVuWrEf8tthVHk/leaderventures.com

http://leaderventures.com/

http://linkedin.com/company/leader-ventures

http://twitter.com/leaderventures


PMV

218


Finance & Accounting > Investors > PMV

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318c86be4b0f7e165e81305%3Apmv.eu%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D5318c86be4b0f7e165e81305%3Apmv.eu%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/uWpGhqItblbr6PcbiXhNGXouSnPK2dlPG-HWdZMpZTk/pmv.eu

http://www.pmv.eu/nl


http://twitter.com/pmvnv


Wellington Financial

219


Finance & Accounting > Investors > Wellington Financial

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff871ae4b0622455c8feae%3Awellingtonfund.com%7Csort%3DdatePublished

https://tracxn.com/query/feedview#%7Cinvestor%5EinstitutionalInvestor%3D52ff871ae4b0622455c8feae%3Awellingtonfund.com%7CcompanyStage%3DAcquired%2CPublic%7Csort%3DdatePublished

https://tracxn.com/funds/DfyXfsrV_EF_4-dm9syTGPGLI28lUDiAuKLpcYi8xd8/wellingtonfund.com

http://www.wellingtonfund.com/

http://linkedin.com/company/wellington-financial

http://twitter.com/wellingtonfund


Contents

Feed Summary

Investment Trend

Key Markets

Exit Outlook

Investors

News

Appendix

220

Recent News






https://tracxn.com/reports/rh2_gC3Inr5132Oyzz_vjA/MarketingTech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-News&utm_medium=Mktg-Page-MarketingTech-Report&utm_campaign=MarketingTech-Report-Button&utm_content=Download

https://tracxn.com/reports/3TMmsOEw30ts_oFVqByixg/Sales Force Automation Sector Landscape Report?utm_source=Finance-&-Accounting-Report-News&utm_medium=Mktg-Page-Sales-Force-Automation-Report&utm_campaign=Sales-Force-Automation-Report-Button&utm_content=Download

https://tracxn.com/reports/SyZeKDXlfudqFLACFHzEcg/Consumer HealthTech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-News&utm_medium=Mktg-Page-Consumer-HealthTech-Report&utm_campaign=Consumer-HealthTech-Report-Button&utm_content=Download

https://blog.tracxn.com/request-for-demo?utm_source=Finance-&-Accounting-Report-News&utm_medium=Mktg-Page-Demo&utm_campaign=Finance-&-Accounting-Demo-Button&utm_content=Demo



Recent News (1/2)

222

Finance & Accounting > News > Recent News

Jan 2018Priority Software Expands Offering to Small Businesses, Acquires US-based Acclivity, PR Newswire

Jan 2018 Vertex Announces Salesforce Integrations, Business Wire

Jan 2018 Summit Partners Recaps Vista-backed Trintech, Citybizlist

Jan 2018Ryan Launches Exemption Certificate Management Outsourcing Service, PR Newswire

Jan 2018Kyriba Recognized as a Leader in IDC MarketScape for Worldwide Treasury and Risk Management Applications, Business Wire

Jan 2018Tradeshift Partners with Infosys to Help Clients Digitize Supply Chain Management, Finovate

Jan 2018HighRadius Welcomes 2018 with a New Website for Credit and Accounts Receivable Professionals in the United Kingdom, PRWeb


Dec 20172018 Payroll Software for Small Business Released by PayrollMate.com, DirectorsTalk Interviews

Dec 2017Phenom People Updates Status; is Now Workday Certified Solution Partner, Technology-Signals

Dec 2017 Rcom Deal To Bring Synergies For Jio's Biz: Morgan Stanley, btvi.in

Dec 2017Drillisch Reorganises Sales Structure of yourfone Brand, Sector Publishing Intelligence

Dec 2017Bill Requires New Federal Websites to be Mobile-friendly, Wireless Week



Dec 2017Glantus Limited Announces Strategic Partnership with Castleton Plc, ePRNews

Dec 2017IBSFintech wants $4 million in Series A, eyes South-East Asia, Middle East, Indiatimes

Dec 2017Solium Chairman Adopts Automatic Securities Disposition Plan, CNW

Dec 2017 Salarium to raise $20M via cryptocurrency sale, Inquirer

Dec 2017 Verizon Awards WEX A Three-year Fleet Card Contract, Trillions

Dec 2017 Simeno acquired by Silicon Valley company, Startupticker


Dec 2017Providence Equity-backed AbacusNext Acquires Commercial Logic, Citybizlist




Dec 2017 Tally launches Xcelerators for SMEs, Deccan Herald

Dec 2017 Ivalua Appoints Chief Financial Officer, Business Wire

https://www.prnewswire.com/news-releases/priority-software-expands-offering-to-small-businesses-acquires-us-based-acclivity-668004233.html

https://www.businesswire.com/news/home/20180103005273/en

http://boston.citybizlist.com/article/458985/summit-partners-recaps-vista-backed-trintech

https://www.prnewswire.com/news-releases/ryan-launches-exemption-certificate-management-outsourcing-service-300577101.html

https://www.businesswire.com/news/home/20180103005374/en/Kyriba-Recognized-Leader-IDC-MarketScape-Worldwide-Treasury

http://finovate.com/tradeshift-partners-infosys-help-clients-digitize-supply-chain-management/



https://www.directorstalkinterviews.com/2018-payroll-software-for-small-business-released-by-payrollmate-com/412742823

http://technology-signals.com/phenom-people-updates-status-is-now-workday-certified-solution-partner/

http://www.btvi.in/article/read/industry/48064/rcom-deal-to-bring-synergies-for-jio-s-biz--morgan-stanley

http://sectorpublishingintelligence.co.uk/news/1864524/drillisch reorganises sales structure of yourfone brand

https://www.wirelessweek.com/news/2017/12/bill-requires-new-federal-websites-be-mobile-friendly


https://eprnews.com/glantus-limited-announces-strategic-partnership-with-castleton-plc-280970/

https://timesofindia.indiatimes.com/venture-capital/ibsfintech-4mn-series-a/articleshow/62268451.cms

http://www.newswire.ca/news-releases/solium-chairman-adopts-automatic-securities-disposition-plan-666777043.html

https://business.inquirer.net/243118/salarium-raise-20m-via-cryptocurrency-sale

http://www.trillions.biz/news/142829-verizon-awards-wex-a-threeyear-fleet-card-contract.html

http://startupticker.ch/en/news/december-2017/simeno-acquired-by-silicon-valley-company


http://newyork.citybizlist.com/article/458217/providence-equity-backed-abacusnext-acquires-commercial-logic




http://www.deccanherald.com/content/649140/tally-launches-xcelerators-smes.html

http://businesswire.com/news/home/20171220005280/en/Ivalua-Appoints-Chief-Financial-Officer



Recent News (2/2)

223

Finance & Accounting > News > Recent News

Dec 2017Wave files FCC complaint against Comcast over regional sports networks, Fierce Cable

Dec 2017Basware Won 'Best and Brightest Companies to Work for in the Nation' Award, PR Newswire

Dec 2017Ryan Named to the 2017 ’FORTUNE’ Magazine Best Workplaces for Diversity List, PR Newswire

Dec 2017Adaptive Insights Surpasses $100M in Annualized Revenue as Cloud Planning Market Expands, PR Newswire

Dec 2017Invoice2go releases mPOS device in association with PayPal Here, Finextra

Dec 2017Apttus Appoints Raj Verma as Chief Operating Officer And Promotes Ben Allen to Chief Marketing, PR Newswire

Dec 2017AccuFund Introduces New User Interface in Latest Upgrade of the AccuFund Accounting Suite, PR Newswire

Dec 2017Certent Announces Technology Partnership with Resolver, PR Newswire

Dec 2017Wolters Kluwer’s CT Corporation Wins Bronze in Best in Biz Awards 2017, Business Wire

Dec 2017PowerPlan Announces Strategic Partnership with EAMS Group , GlobeNewswire

Dec 2017Radius Accepted as Participant in the EU-US Privacy Shield Framework, Business Wire

Dec 2017Bahrain Middle East Bank Chooses Wolters Kluwer's OneSumX for Finance, Business Wire


Dec 2017Aria Systems Streamlines Payment Experience with PayPal, GlobeNewswire

Dec 2017 FloQast Relocates to Larger Office, San Fernando Valley Business Journal

Dec 2017Secretarial software firm makes three appointments in Suffolk, Business Weekly

Dec 2017Divido and Digital River Partner to Help Global Ecommerce Brands Increase Revenue through Retail Finance, Business Wire

Dec 2017SutiHR Gets Updated with Affordable Care Act Reports, Hiring Features, and More, Technology-Signals

Dec 2017E-filing services provider Eagle View launches site with tax resources, Accounting Today

Dec 2017BELLIN Branches Out into Global Transaction Banking Services, Bobsguide

Dec 2017GoCatch Integrates Business Solutions with Concur to Deliver Seamless Travel Expensing, Medianet

Dec 2017Adyen and Recurly Team Up to Help Subscription Businesses Expand Globally, PR Newswire

Dec 2017CloudTrade Launches Cloud Capture to Manage the Long-tail, Financial IT

Dec 2017Irish software firm Glantus joins forces with Castleton Technology, The Irish Times

Dec 2017Vena Introduces Industry-First Revenue Performance Management Software for Smarter Business, Revenue Growth, 4-Traders

https://www.fiercecable.com/cable/wave-files-fcc-complaint-against-comcast-over-sports-nets

https://www.prnewswire.com/news-releases/basware-won-best-and-brightest-companies-to-work-for-in-the-nation-award-300574083.html

https://www.prnewswire.com/news-releases/ryan-named-to-the-2017-fortune-magazine-best-workplaces-for-diversity-list-300574155.html

https://www.prnewswire.com/news-releases/adaptive-insights-surpasses-100m-in-annualized-revenue-as-cloud-planning-market-expands-300573736.html

http://finextra.com/pressarticle/72045/invoice2go-releases-mpos-device-in-association-with-paypal-here

https://www.prnewswire.com/news-releases/apttus-appoints-raj-verma-as-chief-operating-officer-and-promotes-ben-allen-to-chief-marketing-officer-300573632.html

https://www.prnewswire.com/news-releases/accufund-introduces-new-user-interface-in-latest-upgrade-of-the-accufund-accounting-suite-300572586.html

https://www.prnewswire.com/news-releases/certent-announces-technology-partnership-with-resolver-300573321.html

http://businesswire.com/news/home/20171219006036/en/Wolters-Kluwer%E2%80%99s-CT-Corporation-Wins-Bronze-Biz

http://globenewswire.com/news-release/2017/12/19/1266281/0/en/PowerPlan-Announces-Strategic-Partnership-with-EAMS-Group.html

http://businesswire.com/news/home/20171219005022/en/Radius-Accepted-Participant-EU-US-Privacy-Shield-Framework

http://businesswire.com/news/home/20171219005072/en/Bahrain-Middle-East-Bank-Chooses-Wolters-Kluwers

http://globenewswire.com/news-release/2017/12/19/1266146/0/en/Aria-Systems-Streamlines-Payment-Experience-with-PayPal.html

http://sfvbj.com/news/2017/dec/18/floqast-relocates-larger-office/

https://www.businessweekly.co.uk/news/recruitment/secretarial-software-firm-makes-three-appointments-suffolk

http://businesswire.com/news/home/20171218005985/en/Divido-Digital-River-Partner-Global-Ecommerce-Brands

http://technology-signals.com/sutihr-gets-updated-with-affordable-care-act-reports-hiring-features-and-more/

https://www.accountingtoday.com/news/e-filing-services-provider-eagle-view-launches-site-with-tax-resources?feed=00000158-20c2-d6a2-adfb-70eb38500000

http://bobsguide.com/guide/news/2017/Dec/15/bellin-branches-out-into-global-transaction-banking-services

http://www.medianet.com.au/releases/150973/

https://www.prnewswire.com/news-releases/adyen-and-recurly-team-up-to-help-subscription-businesses-expand-globally-300569774.html

https://financialit.net/news/cloud/cloudtrade-launches-cloud-capture-manage-long-tail

http://irishtimes.com/business/technology/irish-software-firm-glantus-joins-forces-with-castleton-technology-1.3326453?mode=sample&auth-failed=1&pw-origin=https://www.irishtimes.com/business/technology/irish-software-firm-glantus-joins-forces-with-castleton-technology-1.3326453

http://4-traders.com/news/Vena-Introduces-Industry-First-Revenue-Performance-Management-Software-for-Smarter-Business-Revenue--25668142


Contents

Feed Summary

Investment Trend

Key Markets

Exit Outlook

Investors

News

Appendix

224

Explore more on Tracxn Platform

Index of Top companies by Market

Funded Deadpooled Companies






https://tracxn.com/reports/ZvW3RtFLZiLRzLG8vsL7mw/Logistics Tech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Appendix&utm_medium=Mktg-Page-Logistics-Tech-Report&utm_campaign=Logistics-Tech-Report-Button&utm_content=Download

https://tracxn.com/reports/Y7DtI2ZvMNluqU4G8HbKww/RealEstate Tech Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Appendix&utm_medium=Mktg-Page-RealEstate-Tech-Report&utm_campaign=RealEstate-Tech-Report-Button&utm_content=Download

https://tracxn.com/reports/hcVP3yt63YmuIiQoRLVF9w/Local Services Sector Landscape Report?utm_source=Finance-&-Accounting-Report-Appendix&utm_medium=Mktg-Page-Local-Services-Report&utm_campaign=Local-Services-Report-Button&utm_content=Download

https://blog.tracxn.com/request-for-demo?utm_source=Finance-&-Accounting-Report-Appendix&utm_medium=Mktg-Page-Demo&utm_campaign=Finance-&-Accounting-Demo-Button&utm_content=Demo


Explore more on Tracxn Platform

226

Companies

Companies Covered

Unicorns

Public Companies

Acquired Companies

Funded Companies

Investment Trends

Recent Investments

Mega Investments

Investment Trend

Markets

BlueBox

Taxonomy

News

Key News

Recent News

Company Stage

Angel Funded

Seed Funded

Early Stage (Series A/B)

Late Stage (Series C+)

Acqui-hires

DeadPooled

Investors Acquirers

Unicorn Investors


Most Active VC &PE Investors

Portfolio of Top Investor

Most Active Acquirer

Finance & Accounting > Appendix > Explore Sector on Tracxn Platform

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7Cunicorn%3DUNICORN%7Csort%3DdatePublished

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DPublic%7Csort%3DipoDate%7Corder%3DDEFAULT

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DAcquired%7CacquisitionAmount%5Emin%3D100000000%5Emax%3Dnull%7Csort%3DacquisitionDate%7Corder%3DDEFAULT

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CisFunded%3Dtrue%7Csort%3DfundingDate%7Corder%3DDEFAULT

https://tracxn.com/theme/transaction/5405b136e4b0eae7f320019b#%7CtransactionFundedDate%5Emin%3D01%2F1%2F2016%5Emax%3D31%2F12%2F2017%7Csort%3DdatePublished

https://tracxn.com/theme/transaction/5405b136e4b0eae7f320019b#%7CtransactionFundedDate%5Emin%3D01%2F1%2F2016%5Emax%3D31%2F12%2F2017%7CtransactionRoundSize%5Emin%3D20000000%5Emax%3Dnull%7Csort%3DdatePublished

https://tracxn.com/theme/sectorsnapshot/5405b136e4b0eae7f320019b#%7Csort%3DdatePublished

https://tracxn.com/theme/landscapeview/5405b136e4b0eae7f320019b#%7Csort%3DdatePublished

https://tracxn.com/theme/marketmapview/5405b136e4b0eae7f320019b#%7Csort%3DdatePublished

https://tracxn.com/theme/news/5405b136e4b0eae7f320019b#%7Cunicorn%3DSOONICORN%2CUNICORN%7Csort%3DnewsPublishedDate

https://tracxn.com/theme/news/5405b136e4b0eae7f320019b#%7Csort%3DnewsPublishedDate

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DAngel%7Csort%3DfundingDate%7Corder%3DDEFAULT

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DSeed%7Csort%3DfundingDate%7Corder%3DDEFAULT

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DSeries%20A%2CSeries%20B%7Csort%3DfundingDate%7Corder%3DDEFAULT

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DSeries%20C%2CSeries%20D%2CSeries%20E%2CSeries%20F%2CSeries%20G%2CSeries%20H%2CSeries%20I%2CSeries%20J%2CSeries%20K%2CSeries%20L%2CSeries%20M%2CSeries%20N%2CSeries%20O

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DAcquired%7CacquisitionAmount%5Emin%3Dnull%5Emax%3D100000000%7Csort%3DacquisitionDate%7Corder%3DDEFAULT

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DDeadpooled%7Csort%3DdatePublished

https://tracxn.com/theme/activeinvestors/5405b136e4b0eae7f320019b#%7Cunicorn%3DSOONICORN%2CUNICORN

https://tracxn.com/theme/activeinvestors/5405b136e4b0eae7f320019b

https://tracxn.com/theme/activeinvestors/5405b136e4b0eae7f320019b#%7CseriesNames%3DSeed%2CPE%2CSeries%20E%2CSeries%20H%2CSeries%20C%2CSeries%20D%2CConvertible%20Debt%2CSeries%20A%2CSeries%20B%2CSeries%20F

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7Cinvestor%5EinstitutionalInvestor%3D52ced274e4b0d79f12aef813%3Asequoiacap.com%2C52c1135be4b0687d76705031%3Aaccel.com%2C52ca4039e4b093852fc327db%3Aa16z.com%2C52d0b2e9e4b00c95d6275515%3Anea.com%2C52c114bce4b0687d76705034%3Agreylock.com%2C52f16a0ce4b033a23dc7293d%3Ageneralcatalyst.com%2C52df1388e4b07c90e4b08d36%3Abenchmark.com%2C52eed2c0e4b033a23dc72557%3Akpcb.com%2C52d60686e4b07c90e4b08309%3Akhoslaventures.com%2C52ca38c7e4b093852fc327be%3Aredpoint.com%2C52ecbface4b033a23dc7240f%3Afoundersfund.com%2C52d3cdede4b07c90e4b08174%3Asvangel.com%2C52d36efae4b00c95d62757ce%3Aindexventures.com%2C52cd2fc2e4b093852fc32e48%3Abvp.com%2C52c8f36fe4b093852fc326c0%3Alsvp.com%2C52f5eb46e4b033a23dc73122%3Avenrock.com%2C52ef3a0de4b033a23dc725c3%3Adfj.com%2C52f199fee4b033a23dc7294d%3Aivp.com%2C52f19ac7e4b033a23dc7294e%3Aintelcapital.com%2C52f5e9cae4b033a23dc73121%3Abattery.com%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT

https://tracxn.com/theme/activeacquirers/5405b136e4b0eae7f320019b#%7Csort%3DdatePublished


Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in Finance & Accounting

Index of Top companies by Market (1/22)

227

Finance & Accounting > Appendix > Index of Top companies by Market


Accounting Suite

Workday (2005, Pleasanton, $267M)Human Resources and Financial Management SuiteIPO Date Oct 2012 Mcap $4.5BIPO Mcap $4.5BNYSE WDAY P/E -

FinancialForce (2009, San Francisco, $194M)Cloud ERP solutions providerSoonicorn. Stage: Series D

Technology Crossover Ventures, Salesforce, Advent International and 1 Other Investors

PowerPlan (1994, Atlanta, $110M)Asset accounting, tax and budgeting solutionsStage: Acquired

TPG, JMI Management, FS Investors and 1 Other Investors

Accounting Suite



Wave Accounting (2009, Toronto, $86.3M)SaaS Accounting for SMBs and personal finance management.Soonicorn. Stage: Series D


Freee (2012, Minato, $54.8M)Automated cloud accounting and payroll software.Soonicorn. Stage: Series C


Accounting Suite

Bexio (2008, Rapperswil, $12.2M)Online business management software for SMBsMinicorn. Stage: Series B

Swisscom, Redalpine, Armada Investment

Aplos (2009, Fresno, $7.4M)Tools to manage books, donors, and members of nonprofits organizationsMinicorn. Stage: Series A

San Joaquin Capital

FreeAgent (2007, Edinburgh, $4.9M)SaaS Finance Management for SMBIPO Date Nov 2016 Mcap $544kIPO Mcap $42.5MLON FREE P/E -

Mr Shoebox (2010, Stockholm, $687k)Marketplace for businesses to choose offline accountants for accounting services.Editor's Pick. Stage: Seed

Collector, NFT Ventures

https://tracxn.com/companies/85a_kDZCH5SnXl1n7AIyh2mjaYtbDaNKlmzPogaOyjw/financialforce.com

https://tracxn.com/companies/2ugP6kYEDCcNpvyeuBfjJKA9cVr8bWlszBXy-Zqdm6k/powerplan.com







228



Accounting Suite

MYOB (1991, Glen Waverley)Business management solutions provider.IPO Date May 2015 Mcap $1.7BIPO Mcap -ASX MYO P/E 38.33

Abacus (2016, Vienna)AI-based financial accountingEditor's Pick. Stage: Unfunded

Accounto (2016, Sissach)Cloud-based outsourced accounting services provider for SMBs.Editor's Pick. Stage: Unfunded

Bookkeeper (2011, Fredrikstad)Tech-enabled outsourced accounting services provider.Editor's Pick. Stage: Unfunded

Accounting Suite

ContaAzul (2011, Joinville)SaaS accounting and invoicing solutions for SMBsEditor's Pick. Stage: Series C

Ribbit Capital, Tiger Global Management, 500 Startups and 3 Other Investors

Contmatic Phoenix (1987, Sao Paulo)Accounting and ERP solutionEditor's Pick. Stage: Unfunded

Scrubbed (2011, San Francisco)Tech-enabled outsourced accounting service provider.Editor's Pick. Stage: Funded

GSV Labs

Sparkrock (2003, Toronto)Donor management softwareEditor's Pick. Stage: Unfunded

TAS Software (1992, Newcastle Upon Tyne)Accounting solution for SMEsEditor's Pick. Stage: Unfunded

Accounting Suite

Blackbaud (1981, Charleston)Non-profit software providerIPO Date Jul 2004 Mcap $4.6BIPO Mcap $340MNASDAQ BLKB P/E 86.13

Class Super (2009, Sydney)Cloud-based software solutions for wealth accounting.IPO Date Dec 2015 Mcap $256MIPO Mcap $84.1MASX CL1 P/E 41.51

Flexi (1991, Shelton)Enterprise accounting software Solutions for financial services industry.IPO Date Dec 1997 Mcap $179MIPO Mcap $179MNASDAQ FLXI P/E -

https://tracxn.com/companies/7Rm-VDprC0zrJsvBDqN7mDp6aziB868_ZzIwIHUimoY/contaazul.com




229



Accounting Suite

Intuit (1983, Mountain View)business & financial mgmt. solutionsIPO Date Mar 1993 Mcap $40.5BIPO Mcap -NASDAQ INTU P/E 41.92

Reckon (1987, Sydney)Web-based accounting and bookkeeping software for SMBs and other usersIPO Date Jul 1999 Mcap $225MIPO Mcap -- RKN P/E -

Sage Group (1997, Newcastle Upon Tyne)Accounting, HR and ERP solutions for SMEsIPO Date Jun 2013 Mcap $144MIPO Mcap -LON SGE P/E 33.39

Accounting Suite

Xero (2006, Wellington)Online Accounting Software for SMBsIPO Date Jun 2007 Mcap -IPO Mcap -ASX XRO P/E -

Bookkeeping

Jurnal (2014, Jakarta)Cloud based accounting for SMEsMinicorn. Stage: Series A

East Ventures, Fenox Venture Capital

BookBit (2014, Manila)Provider of tech-enabled bookkeeping services for freelancers and entrepreneurs.Editor's Pick. Stage: Unfunded

Change Bookkeeping (2015, Auckland)Outsourced bookkeeping services for SMBs.Editor's Pick. Stage: Unfunded

Clerk.AI (2016, Stockholm)AI-based SaaS bookkeeping solution for SMBs.Editor's Pick. Stage: Seed

Startup Sauna

Luca Labs (2016, Fornebu)AI-leveraging expense management and reporting to accounting software.Editor's Pick. Stage: Unfunded




230



Bookkeeping

PromikBook (2010, Gothenburg)Billing and bookkeeping software provider.IPO Date Mar 2014 Mcap $4.9BIPO Mcap -- PB P/E 18

Invoice Management



Bill.com (2006, Palo Alto, $259M)Provider of cloud-based payables and receivables payment solutions.Soonicorn. Stage: Series G

JPMorgan Chase & Co., Temasek, American Express and 13 Other Investors

Taulia (2009, San Francisco, $137M)Electronic invoicing and dynamic discounting solution.Soonicorn. Stage: Series E

Zouk Capital, BBVA Ventures, EDBI and 10 Other Investors

Invoice Management

PaySimple (2006, Denver, $137M)Online Payment and Invoicing for small businessSoonicorn. Stage: Series B

Providence Equity Partners, Susquehanna Growth Equity, Aurionpro and 3 Other Investors

Billtrust (2001, Mercerville, $105M)B2B and B2C payment cycle management solutionsSoonicorn. Stage: Series D

KeyBank, Riverwood Capital, Bain Capital Ventures and 3 Other Investors

C2FO (2008, Fairway, $97.7M)Provides platform for cash flow optimization between business and suppliersSoonicorn. Stage: Series D

Citi, Mithril, Temasek and 8 Other Investors


https://tracxn.com/companies/XUiDj5kq00_goSZIRLM_pdp-7_1EZiqtO6XeQXjUH74/bill.com

https://tracxn.com/companies/0Afh2A7UlNySoV70Up7bOQP0lRmHWH02ocnmoPKJHf4/taulia.com

https://tracxn.com/companies/jXfCtJaQLk072nhn2_XM8i7JUhi_HvYeXskz_ySW3s8/paysimple.com

https://tracxn.com/companies/fcpskNjHN9Re5UhgtOV_EmWomvaVRfvDxsSrhWoo6kc/billtrust.com

https://tracxn.com/companies/DI930fLyQM6hoXHK4EYubHL7ntLveXVqWAiSJaPsIjI/c2fo.com




231



Invoice Management

Viewpost (2012, Maitland, $89.5M)eInvoicing and online payment solution.Soonicorn. Stage: Series C

Caretta, Western Technology Investment

Transactis (2001, New York City, $61.7M)White label for bill paymentsSoonicorn. Stage: Series E

Fifth Third Bancorp, PNC Financial Services Group, Safeguard Scientifics and 9 Other Investors

Invoice2go (2002, Sydney, $50M)Invoice AppSoonicorn. Stage: Series C

Ribbit Capital, Accel Partners, Western Technology Investment

Invoice Management

Avolent (1995, San Francisco, $49M)Self-service eBilling and eSettlement software provider.Stage: Acquired

Columbia Capital, Constellation Ventures, Rho Ventures and 2 Other Investors

Harbor Payments (2000, Atlanta, $40M)B2B invoice paymentsStage: Acquired

Oak Investment Partners, Oak Investment Partners, Oak HC/FT and 1 Other Investors

TrueAccord (2013, San Francisco, $27.3M)Behaviorial Analytics based debt recovery solutions.Minicorn. Stage: Series B

Arbor Ventures, Nyca, Assurant and 8 Other Investors

Invoice Management

Tipalti (2010, Palo Alto, $27M)Automated online mass payment system and account payable platform.Minicorn. Stage: Series B

SGVC

Rimilia (2008, Bromsgrove, $25M)Robotic process automation based account receivable management.Editor's Pick. Stage: Series B

Kennet Partners, Eight Roads Ventures

TSheets (2006, Boise, $15M)Time Tracking SoftwareMinicorn. Stage: Acquired

Summit Partners

https://tracxn.com/companies/C98O1uB9HI99gX5puxewnEYpuzMXsmgEtJY_SYu1Vf8/transactis.com

https://tracxn.com/companies/294XZJQixI7E9Vw6rgfaNvr3tVQf7eDUYKrT93xgOG0/avolent.com

https://tracxn.com/companies/FVQwmsE5Mb7jJ6Rp8jDSCcsSTWKGw38NKBcGw7UAcqc/harborpayments.com

https://tracxn.com/companies/ywtcxqTZqYpYjlaYeCDmKahxFIadWuzGE4D7KRdLxlU/trueaccord.com




232



Invoice Management

OB10 (2000, London, $10.1M)B2B eInvoicing, invoice financing and analytics firm.Stage: Acquired

Black River Asset Management, FF and P Private Equity, Straub Ventures and 2 Other Investors

Zervant (2010, Espoo, $8.7M)Invoicing and time tracking for SMBsMinicorn. Stage: Series A

Northzone, Conor Venture Partners, Tekes

Gallium Technologies (2009, Richmond, $2.7M)Provider of software to automate credit collections.Editor's Pick. Stage: Acquired

Virteo (2013, Heverlee, $2.4M)Cloud-based platform for credit collection and debt recovery.Editor's Pick. Stage: Series A

PMV, Sherpa Invest, Ark Angels Activator Fund NV

Invoice Management

Symend (2016, Calgary, $1M)Cloud-based solutions for debt recovery.Minicorn. Stage: Seed

PayTango (2012, Mountain View, $700k)Invoicing platformEditor's Pick. Stage: Seed

Y Combinator, Andreessen Horowitz

Spotdraft (2016, Gurgaon, $536k)Cloud-based AI-enabled contract creator and invoice sending platform.Editor's Pick. Stage: Seed

Hunch Ventures, Spiral Ventures, 500 Startups and 2 Other Investors

Tesorio (2013, Philadelphia, $220k)An online platform for invoice factoring.Minicorn. Stage: Seed

Y Combinator, StartUp PHL, Fuel Capital and 4 Other Investors

Invoice Management

Hummingbill (2014, Bangalore, $210k)Receivables management platformEditor's Pick. Stage: Acquired

Start-Up Chile, LetsVenture, CRE Venture Capital

Ansonia Credit Data (2006, Olympia)Provider of credit intelligence tools for businesses.Editor's Pick. Stage: Unfunded

Informer (2009, Rijswijk)Cloud-based payables and receivables management solution for SMBs.Editor's Pick. Stage: Unfunded

Paper (2016, Jakarta)Mobile-based invoicing solution.Editor's Pick. Stage: Unfunded

Dunforce (2016, Barcelona)Account receivable management softwareMinicorn. Stage: Unfunded

https://tracxn.com/companies/k4jBmzTeR563mHsNkyhfjeNMpQ8YVW2SyGBqcNh38Bo/ob10.com

https://tracxn.com/companies/EY8IPHmNFRQCXJ3SvEliBtr6-zZBgonmpp5sNw7QJ-8/spotdraft.com

https://tracxn.com/companies/lGP2abpvvPq5an5uWBEM2OloP-lXqyTnpIIusWS-T_8/tesorio.com




233



Invoice Management

AcceptEasy (2007, Amsterdam)Accounts receivables automationEditor's Pick. Stage: Unfunded

BlueGill Technologies (1996, Brookfield)Electronic billing and payment solutionEditor's Pick. Stage: Acquired

Blue Chip Venture, Allos Ventures, Morgenthaler and 1 Other Investors

GIS e-invoicing (2001, Paris)Electronic Invoicing SolutionEditor's Pick. Stage: Unfunded

InShip (2014, Dublin)Account payable automation software.Editor's Pick. Stage: Unfunded

iVarejo (2005, Rio De Janeiro)Platform for invoice management and digitization.Editor's Pick. Stage: Unfunded

Invoice Management

Kitado (2014, Sao Paulo)Online cloud-based solution for credit collection.Editor's Pick. Stage: Funded

Monashees+

NetChain² (2016, Phoenix)AI-based accounts payable/receivables automationEditor's Pick. Stage: Unfunded

Netsend (1994, London)Provider of cloud-based electronic invoicing and delivery solutions.Editor's Pick. Stage: Unfunded

Paybox (2001, Fort Lauderdale)Accounts payable and receivables automation softwareEditor's Pick. Stage: Unfunded

Payt (2012, Groningen)Online cloud-based accounts receivable collection software solution.Editor's Pick. Stage: Unfunded

Invoice Management

POM (2015, Brussels)Mobile (Android & iOS) app for making invoice payments.Editor's Pick. Stage: Funded

Startupbootcamp

Storecove (2014, Amsterdam)Automatic supplier invoice collection software.Editor's Pick. Stage: Funded

Otterloo Ventures

Swordfish Software (2004, Pretoria)Cloud-based debt-recovery & collections software.Editor's Pick. Stage: Unfunded

Xelix (2016, London)Dynamic discounting softwareEditor's Pick. Stage: Funded

Passion Capital

https://tracxn.com/companies/VSxapLRbr4A9YrWUgeJg9DL_1vHRVFCdm9uiQmsHGNM/bluegill.com




234



Invoice Management

Bottomline Technologies (1989, Portsmouth)Invoice, document automation solutionsIPO Date Feb 1999 Mcap $1.4BIPO Mcap $129MNASDAQ EPAY P/E -

VersaPay (2006, Vancouver)Cloud based B2B accounts receivable solution providerIPO Date Jan 2010 Mcap $61.8MIPO Mcap -CVE VPY P/E -

Esker (1985, Lyon)Document automation & order management softwareIPO Date Aug 2010 Mcap $334MIPO Mcap -- ALESK P/E 44.18

Invoice Management

BizXpert (1989, Budapest)Cloud-based invoicing solution for Windows.IPO Date - Mcap -IPO Mcap -- - P/E -

Direct Insite (1987, Lauderdale)Cloud based accounts payable and receivable management software provider.IPO Date - Mcap -IPO Mcap -- - P/E -

GFKL (1992, Essen)Receivables' collections service provider.Stage: Acquired

Advent International, SVG Capital

Sidetrade (2000, Boulogne)Account Receivable automationIPO Date Jul 2005 Mcap $111MIPO Mcap -EURONEXT ALBFR P/E 51.46

Quote-to-cash

Apttus (2006, San Mateo, $329M)CRM SaaS Pricing, Quoting, and ContractsUnicorn. Stage: Series E

Salesforce, K1 Investment Management, Iconiq Capital and 3 Other Investors

Zuora (2007, Foster City, $250M)Subscription billing and managementUnicorn. Stage: Series F

Next World Capital, Shasta Ventures, Index Ventures and 12 Other Investors

Aria (2003, San Francisco, $150M)Subscription Billing & Management SoftwareSoonicorn. Stage: Series E

Madison Bay Capital Partners, Hummer Winblad Venture Partners, InterWest Partners and 7 Other Investors

https://tracxn.com/companies/yPkKUnB45HzfDUtKx89y6HXVBSehaXRPR_3KO7t8PDA/apttus.com

https://tracxn.com/companies/wlTNX9kRkZC0DdBchAEEqIYfMeHFIsSkQKgD4Pwf33Q/zuora.com

https://tracxn.com/companies/3SHP3UWwzmatzvM3SJJ8Ww4mhSikYEdxnCloOgw7jJo/ariasystems.com




235



Quote-to-cash

SteelBrick (2002, Palo Alto, $77.5M)SaaS based CPQ for SalesForce.com usersStage: Acquired

IVP, Emergence Capital, Salesforce and 2 Other Investors

MetraTech (1998, Waltham, $37.5M)Agreements-based billing and settlement solutions provider.Stage: Acquired

Accel Partners, Meritech Capital Partners, Vesbridge Partners and 1 Other Investors

Model N (1999, Redwood City, $37M)Cloud based revenue management solution for life science and hi-tech industryIPO Date Mar 2013 Mcap $466MIPO Mcap $343MNYSE MODN P/E -

Quote-to-cash

Hybris (1997, Zug, $30M)Enterprise multichannel e-commerce and product content management softwareStage: Acquired

Meritech Capital Partners, HGGC, 83North and 2 Other Investors

Procure-to-pay

Tradeshift (2009, San Francisco, $266M)Collaboration, electronic invoicing and dynamic discounting solutionSoonicorn. Stage: Series D

Wipro, Santander InnoVentures, Data Collective and 12 Other Investors

Coupa (2006, San Mateo, $169M)Cloud spend management software.IPO Date Oct 2016 Mcap $1.7BIPO Mcap -- COUP P/E -

TradeCard (1999, New York City, $133M)Cloud based Supplier collaboration and enabler of Sourcing transactionsStage: Acquired

Warburg Pincus

https://tracxn.com/companies/GuGkgg1nC9be5pbns6jHTK9_TDFXHkxoV8vorrLviVU/steelbrick.com

https://tracxn.com/companies/Oa22kKpie2KjgUk5UtTnv-mGTtO8NBVi6kfMJE7wlsA/metratech.com

https://tracxn.com/companies/GWXWolmVWVQvICEiKvpdhKA1zYNuJw9vtGndVAOjBCc/hybris.com

https://tracxn.com/companies/KvaiyrDunkRiNryea7QiHxbwTKecvcA__tFqxzXXZyQ/tradeshift.com




236



Procure-to-pay

Chrome River (2007, Los Angeles, $120M)SaaS Expense Reporting & Invoice ManagementSoonicorn. Stage: Series D

Great Hill Partners, Bain Capital Ventures, First Analysis and 3 Other Investors

Ivalua (2000, Redwood City, $73M)Procure-to-Pay AutomationMinicorn. Stage: Series B

Kohlberg Kravis Roberts, Ardian

Perfect Commerce (1994, Newport News, $30M)Procure-to-Pay AutomationStage: Acquired

Apax Partners, Mayfield, New Enterprise Associates and 11 Other Investors

Procure-to-pay

Procurify (2011, Vancouver, $12.6M)Procure-to-Pay Automation for SMBsMinicorn. Stage: Series A

Runa Capital, Point Nine Capital, Nexus Venture Partners and 4 Other Investors

InstaSupply (2014, London, $1.5M)Procurement platform for buyers-suppliers.Editor's Pick. Stage: Seed

Ariba (1996, Sunnyvale)e-Procurement, invoicing, and B2B collaboration softwareUnicorn. Stage: Acquired

Intel, The Beekman Group, MK Capital and 2 Other Investors

Amani (2016, Windsor)End-to-end purchase order placing to payment solution on Ethereum-based blockchain.Editor's Pick. Stage: Unfunded

Procure-to-pay

Heeros (2000, Helsinki)Cloud-based tool for financial information managementIPO Date - Mcap -IPO Mcap -HEL HEEROS P/E -

Quadrem (2000, Amsterdam)Procure-to-pay softwareEditor's Pick. Stage: Acquired

Basware (1985, Espoo)P2P and e-invoicing solutionsIPO Date - Mcap $811MIPO Mcap -HEL BAS1V P/E -

Proactis (1996, Wetherby)Spend control and e procurement solution providerIPO Date Jun 2006 Mcap $2.6MIPO Mcap $284MLON PHD P/E -

https://tracxn.com/companies/NVLMszWM7wWuIv8GuaWhRzjPjqCKjlTa2YnfifS7YFM/chromeriver.com

https://tracxn.com/companies/RqbPkcs4jN_QHq1VrLEnQVeLD72zxHWQxidr9kQGU30/perfect.com

https://tracxn.com/companies/4EnAswiVYCCsN171DQHPr-_N-oRocj50HHvTvwaCPrI/procurify.com

https://tracxn.com/companies/5hSI3hwHaNO0NFwJlxx9hafJORjRBJDamMlFBAxk-do/ariba.com




237



Procure-to-pay

Tungsten Network (2000, London)e-invoicing, invoice financing and analytics companyIPO Date - Mcap -IPO Mcap -- - P/E -

Payroll Management

Gusto (2011, San Francisco, $176M)Cloud-based HRMS and payroll management solutionUnicorn. Stage: Series C

General Catalyst Partners, Obvious Ventures, CapitalG and 23 Other Investors

Justworks (2012, New York City, $53M)Online payroll and benefits platformSoonicorn. Stage: Series C

Redpoint Ventures, Bain Capital Ventures, Thrive Capital and 4 Other Investors

CloudPay (1996, Raleigh, $46M)SaaS Payroll software and servicesSoonicorn. Stage: Series B

Rho Ventures, Rho Capital Partners

Payroll Management

WaveCrest (2009, Gibraltar, $32.9M)Electronic payment solution provider.Minicorn. Stage: Series E

Vesuvio Ventures, Upfront Ventures, Daher Capital

PayCycle (1999, Palo Alto, $28M)Online Payroll service provider.Stage: Acquired

TTV Capital, August Capital, DCM Ventures and 1 Other Investors

Celergo (2004, Deerfield, $15M)Payroll service providerSoonicorn. Stage: Funded

Frontier Capital

Wagepoint (2012, Kitchener, $4M)SaaS payroll application for SMBsMinicorn. Stage: Seed

Timia Capital, Extreme Venture Partners, Cardinal Bank and 1 Other Investors

https://tracxn.com/companies/Z03ww0yKBEc8APYPkCH_qi_Ry7GFVIitrOM2SM_ingM/gusto.com

https://tracxn.com/companies/J2ru5Z1oxk7tk_YdyIcUnOTvTdVizJ2Fb_2qYO9QG4s/justworks.com

https://tracxn.com/companies/EkLSMHPXtKJ_EIBwxWoA8PPcpQOGR2MyJaiAUDhZdMo/paycycle.com

https://tracxn.com/companies/dPUeuA78cM6JTfk7zdguJxs5aXK2jQX67G_dAAzjhFs/wagepoint.com




238



Payroll Management

Payable (2013, San Francisco, $2.1M)Billing Solution for Gig-EconomyMinicorn. Stage: Acquired

General Catalyst Partners, Freestyle Capital, Redpoint Ventures and 7 Other Investors

Niyo Solutions (2015, Bangalore, $1.2M)Employee benefits solution providerEditor's Pick. Stage: Seed

Prime Venture Partners

FlexM (2014, Singapore, $866k)Mobile app for electronic paymentsEditor's Pick. Stage: Seed

MatchMove Pay

Salarium (2013, Manila, $500k)Cloud based payroll managementMinicorn. Stage: Seed

Future Now Ventures, Seedstars World

Payroll Management

Meu Alelo (2003, Barueri)Prepaid card benefits for corporate employeesEditor's Pick. Stage: Unfunded

Pocket Teller (2014, San Francisco)Employer extended mobile wallet and physical card.Editor's Pick. Stage: Funded

SmartPayroll (2004, Lower Hutt)Cloud-based payroll management software.Editor's Pick. Stage: Unfunded

Udio (2010, Mumbai)Mobile wallet and employee benefits cardsEditor's Pick. Stage: Unfunded

Zeta (2015, Bangalore)Employee tax benefits solution providerEditor's Pick. Stage: Unfunded

Payroll Management

Hyperwallet Systems (2000, California)Mass Payout solution provider.Soonicorn. Stage: Funded

Primus Capital Partners, Raymond James, Primus Capital

$ERO (2014, Montevideo)Provider of payroll card solutions to businesses.Editor's Pick. Stage: Unfunded

TRAXPayroll (1997, Hercules)Provider of cloud-based payroll-related solutions for businesses.Editor's Pick. Stage: Unfunded

SurePayroll (2000, Glenview)Online Payroll Service for SMBsStage: Acquired

https://tracxn.com/companies/2YY-eqTTMV-1RacGlcvXxBS4d58ClWt6TO2HAw7c0QY/payable.com




239



Payroll Management

The Mint Corporation (2009, Dubai)Gateway, POS and prepaid payroll card servicesIPO Date - Mcap -IPO Mcap -- - P/E -

Expense Management

Wright Express (1983, South Portland, $355M)Financial and information management solutionsIPO Date Feb 2005 Mcap $6.1BIPO Mcap -- WEX P/E 70.87

ItzCash (2006, Mumbai, $52.6M)Provider of prepaid payment cardsSoonicorn. Stage: Acquired

Intel Capital, Matrix Partners India, Lightspeed Venture Partners

TravelBank (2015, San Francisco, $35M)Cloud-based expense management Android and iOS app for SMBsMinicorn. Stage: Series B

DCM Ventures, Propel Venture Partners, New Enterprise Associates and 3 Other Investors

Expense Management

Expensify (2008, San Francisco, $27.8M)Expense Report SoftwareEditor's Pick. Stage: Series B

OpenView, CoyoteRidgeVC, Barracuda and 5 Other Investors

Karmic Labs (2014, San Francisco, $24.9M)Saas to manage cash flow and expenses for a businessMinicorn. Stage: Series B

Alsop Louie Partners, Arbor Ventures, Greycroft Partners and 11 Other Investors

Happay (2012, Bangalore, $17.7M)Cloud based business expense management solutionMinicorn. Stage: Series B

Sequoia Capital, Axiom Capital Management, AME Cloud Ventures and 2 Other Investors

https://tracxn.com/companies/L7lXoHhwsvbQdFP341E8-qLW7IwDYfroy8W5Ch3gWug/travelbank.com

https://tracxn.com/companies/UHruzjPht1_llsuvN76hvRo4tcKfpxJz5wWEWTjKvUc/expensify.com

https://tracxn.com/companies/OmRB8nYfZ8acKtFbUNZxNDsVTXBgpM2TLQx5Osu83RU/karmiclabs.com

https://tracxn.com/companies/HBZsOwhKqrchA92AHiM-zYiDj78xtNqrLXh2_sK4sCE/happay.in




240



Expense Management

AppZen (2012, Sunnyvale, $17.5M)Personal Assistant for Expense ManagementEditor's Pick. Stage: Series A

Redpoint Ventures, Resolute Ventures, Bloomberg Beta and 6 Other Investors

Nexonia (2002, Toronto, $14.2M)Software provider for accounting modules like expenses, accounts payable.Minicorn. Stage: Series B

Xpenditure (2011, Mechelen, $8.7M)Expense Management SoftwareMinicorn. Stage: Series A

Abacus (2013, New York City, $3.5M)Employee Expense Reporting ApplicationEditor's Pick. Stage: Seed

Homebrew, Sherpalo Ventures, GV and 13 Other Investors

Expense Management



Electronic Funds Source (1996, Ogden)Corporate and Fleet Expense solutionsUnicorn. Stage: Acquired

Ardian

RitExpense (2015, Atlanta)Cloud-based expense reporting and management solution.Editor's Pick. Stage: Unfunded

8common (2014, Sydney)Suite of enterprise softwareIPO Date Aug 2014 Mcap $1.4MIPO Mcap $12.6MASX 8CO P/E -

Taxation

Avalara (2004, Bainbridge Island, $311M)Cloud-based Taxation ServiceSoonicorn. Stage: Series F

Warburg Pincus, Technology Crossover Ventures, Sageview Capital and 5 Other Investors

VATBox (2012, Herzliya, $50M)VAT Refund AutomationMinicorn. Stage: Series B

Target Global, Viola Group

Liquid Engines (2001, New York City, $30.5M)Corporate Tax Software ProviderStage: Acquired

Advanced Technology Ventures, Charles River Ventures, Catamount Ventures and 4 Other Investors

https://tracxn.com/companies/GIGDcChSonYWaNtRs2la0JDxkuVWH5B1tsUn2Ytm6kg/appzen.com

https://tracxn.com/companies/TOTZdwY5Ps96cm-D1PllDOZruxzzcs4ltHuCKXTQ8B8/abacus.com


https://tracxn.com/companies/OFqumYQDD-LEomrItTkI5ve98aE4sGBJ1TikBWe2kQs/avalara.com

https://tracxn.com/companies/dhWSsKVMCExUhxkp3JEckf66Bq3vsshljebHnnEpRWM/liquidengines.com




241



Taxation

Canopy (2014, Lehi, $30M)Tax resolution and practice management software provider for tax professionals.Minicorn. Stage: Series B

Pelion Venture Partners, New Enterprise Associates, EPIC Venture Fund and 2 Other Investors

Exactor (2006, Philadelphia, $3.3M)Cloud-based sales tax compliance software.Editor's Pick. Stage: Acquired

TaxCloud (2012, Delhi)Cloud based ITR and e-TDS software for enterprisesEditor's Pick. Stage: Unfunded

Taxamo (2010, Tralee)International digital tax solutionEditor's Pick. Stage: Unfunded

Zenwork (2002, Fayetteville)Online tax filing and compliance platformEditor's Pick. Stage: Unfunded

Auditing

Capital Confirmation (2000, Brentwood, $63M)Online audit confirmation solution provider.Minicorn. Stage: Seed

Great Hill Partners, Solidus

Transparent (2000, Amsterdam)Accounts payable audit recovery solution providerEditor's Pick. Stage: Unfunded

PRGX (1970, Atlanta)Accounts Payable recovery audit and advisory services provider.IPO Date Mar 1996 Mcap $158MIPO Mcap -NASDAQ PRGX P/E -

Account Reconciliation

BlackLine (2001, Woodland Hills, $220M)Account reconciliation softwareIPO Date Oct 2016 Mcap $1.8BIPO Mcap $839MNASDAQ BL P/E -

FloQast (2013, Los Angeles, $33M)SaaS month end Account Management for SMBsMinicorn. Stage: Series B

Insight Venture Partners, Toba Capital, Polaris Partners and 3 Other Investors

https://tracxn.com/companies/VlxAguns7tFPbvKU8lBHVqzcycl7Zd6q58S3Vh7vfG0/canopytax.com

https://tracxn.com/companies/zAkcBjT-ANqz4N0K9YDqwMpwpmyIooXo1w5KN6lD2fg/floqast.com




242



Regulatory Reporting

Workiva (2008, Ames, $53.8M)Compliance and management reporting platformIPO Date Dec 2014 Mcap $891MIPO Mcap $553MNYSE WK P/E -

IRIS (2000, Vashi)Cloud based XBRL solutionsIPO Date Oct 2017 Mcap $9.2MIPO Mcap $9.2MBOM 540735 P/E -


Suite

Anaplan (2006, San Francisco, $300M)SaaS Corporate Performance Management PlatformUnicorn. Stage: Series F

Premji Invest, Top Tier Capital Partners, Baillie Gifford and 13 Other Investors

Adaptive Insights (2003, Palo Alto, $151M)SaaS Corporate Finance ManagementSoonicorn. Stage: Series G

Monitor Ventures, Information Venture Partners, Cardinal Venture Capital and 10 Other Investors

Tidemark (2010, Redwood City, $105M)SaaS Corporate Performance ManagementSoonicorn. Stage: Series D

Marlin Equity Partners, Workday, Greylock Partners and 4 Other Investors

Suite

Rocket Software (1990, Waltham, $91.9M)Enterprise Performance Management and BI PlatformSoonicorn. Stage: Funded

Comvest Partners

Host Analytics (2000, Redwood City, $71.7M)Cloud Enterprise Performance ManagementSoonicorn. Stage: Series E

Advanced Technology Ventures, Next World Capital, StarVest Partners and 4 Other Investors

Arcplan (1993, Wayne, $34M)Corporate Performance ManagementStage: Acquired

ViewPoint Capital Partners, Marlin Equity Partners

https://tracxn.com/companies/m3v3pxhzZ4TFlhp8eOurYHbQrR0qnlZ_eG4zhOAsMxU/anaplan.com

https://tracxn.com/companies/JYEtbCy-dIQwY4gieIu9_QMnSrKQMWwT7aAeTtggCEw/adaptiveinsights.com

https://tracxn.com/companies/0w3PystSmQx5CQJEJQr55Dsix5fvTQL5k4ZXtCCQnbI/tidemark.com

https://tracxn.com/companies/joWbc1YPqXxUuHfN6UPhLmKVAyDy1rjlT1eekQjC3bg/hostanalytics.com




243



Suite

Trufa (2013, Heidelberg, $4.5M)Predictive Performance CompanyEditor's Pick. Stage: Series A

Accel Partners, Cross Continental Ventures, Foundation Capital

Agylytyx (2011, Sunnyvale)Provider of cloud-based business intelligence and budgeting software.Editor's Pick. Stage: Unfunded

Applix (1983, Westborough)Business performance management solutionStage: Acquired


Tagetik (1986, Lucca)Corporate Performance ManagementStage: Acquired

Budgeting & Forecasting

XLerant (2008, Stamford, $5.4M)Provider of cloud-based budgeting, forecasting and reporting solutions.Minicorn. Stage: Series B

Chrysalis Ventures, Connecticut Innovations, Advantage Capital and 1 Other Investors

Synapse Information (2012, Birmingham, $774k)Cloud-based corporate performance management software provider.Editor's Pick. Stage: Seed

HSBC Group, Innovate UK, Finance Birmingham and 1 Other Investors

Finfox (2016, Boston)Cash management and automated savings for businesses.Editor's Pick. Stage: Funded

Dorm Room Fund

Budgeting & Forecasting

Cashcontrol (2013, Kibbutz Gaton)Cloud-based cash flow forecasting and management solution.Editor's Pick. Stage: Unfunded

Lucro (2014, Chicago)Cloud-based financial modeling software focused on real-estate.Editor's Pick. Stage: Unfunded

https://tracxn.com/companies/KnDR5UvvYCeEQJTGZMyHLuYJC2lniNeMsgPe-IkIeO4/xlerant.com

https://tracxn.com/companies/OUYjvpm4g4jnjIR2hl8A0qDRaVtLz4GxjkDIC2yOdXs/synapseinformation.com




244



Business Intelligence

ChartMogul (2014, Berlin, $3.7M)Recurring Revenue Analytics for Subscription BusinessesMinicorn. Stage: Series A

Alven, Point Nine Capital, RTAventures

SherpaShare (2014, San Francisco, $700k)Earnings management platform for on-demand drivers and other workersEditor's Pick. Stage: Seed

Amino Capital, Galvanize, Corigin Ventures

Treasury Management

Kyriba (2000, San Diego, $159M)Treasury automation and risk managementSoonicorn. Stage: Series E

Sumeru Equity Partners, Bpifrance, Iris Capital and 9 Other Investors

Reval (1999, New York City, $28M)Accounting and Risk Management SoftwareStage: Acquired

Commonwealth Capital Ventures, North Bridge, Blue Cloud Ventures

SunGard (1982, Wayne)Enterprise SoftwareUnicorn. Stage: Acquired

GE Capital, HarbourVest Partners, AlpInvest Partners and 3 Other Investors

Treasury Management

Nordkap (2012, Stockholm)Cloud-based treasury platform for pricing debt investments.Editor's Pick. Stage: Series A

Collector, NFT Ventures

Treasury Curve (2006, Menlo Park)Provider of a cloud-based treasury management solution built on SWIFT.Editor's Pick. Stage: Unfunded

Pelican (1993, London)Provider of AI-solutions in payments/compliance processes for banks and corporates.Soonicorn. Stage: Unfunded

Hedgebook (2011, Auckland)Provider of cloud-based solutions for treasury management.Editor's Pick. Stage: Unfunded

https://tracxn.com/companies/aFIWEE72Hb01Mm09vgbfcBgKztETkLEqZtA-kf7OrIM/kyriba.com

https://tracxn.com/companies/Z1Df58PyQ7kfZpP4AtJHz17J2i-zlszTftTjH5DmJyc/sungard.com




245



Treasury Management

TMS Treasury Systems (2000, Dublin)Provider of a cloud-based modular treasury management solution.Editor's Pick. Stage: Unfunded

TriAset (1999, Petaling Jaya)Provider of cloud-based treasury management systems for banks and corporates.Editor's Pick. Stage: Unfunded

US Dataworks (1997, Sugar Land)Multi-channel payment processing & clearing solutionsIPO Date - Mcap -IPO Mcap -- - P/E -

Equity Administration

Certent (2002, Pleasanton, $35.9M)Equity compensation and financial compliance software provider.Soonicorn. Stage: Series D

Western Alliance Bancorporation

Solium (1999, Calgary)Cloud-based equity compensation administration software and services provider.IPO Date - Mcap -IPO Mcap -- - P/E -

Accounting Enablers


Convoke (2006, San Francisco, $5.5M)Automating and Accelerating Accurate Business Information for Debt RecoveryEditor's Pick. Stage: Series B

Flybridge Capital Partners, QED Investors, Ashby Point Capital

Yuki (2006, Rotterdam)Cloud-based platform for collaboration between accountants and businesses.Editor's Pick. Stage: Funded

CNBB Venture Partners

Dokka (2016, Tel Aviv)Mobile app for document storage & managementEditor's Pick. Stage: Unfunded

LedgerDocs (2011, North Vancouver)Cloud-based document storage and collaboration software for businesses and their accountants.Editor's Pick. Stage: Unfunded




246


Accounting Enablers


MyFirmsApp (2013, Durham)Provider of white-label mobile (Android and iOS) apps for accountants and bookkeepers.Editor's Pick. Stage: Unfunded

MYOB BankLink (1986, Auckland)Provider of software for automatically providing financial transaction data from banks.Stage: Acquired

Practice Management for Accounting Firms

Karbon (2014, Sydney, $4.8M)Cloud-based workflow management software for accountants and accounting firms.Editor's Pick. Stage: Seed

Blackbird Ventures, DFJ

Wolters Kluwer (1836, The Hague)Suites for Legal office management and accounting firms.Unicorn. Stage: Funded

MMF Capital

Aero Workflow (2013, Menlo Park)Cloud-based workflow management and practice management solution for accountants.Editor's Pick. Stage: Unfunded

GreatSoft (2011, Cape Town)Practice management solution for accounting firms & other professional service firms.Editor's Pick. Stage: Unfunded

Data Digitization

Receipt Bank (2011, London, $65M)Invoice data extraction software.Minicorn. Stage: Series B

Insight Venture Partners, Kennet Partners

Commerce Sync (2005, Denver, $12.8M)Accounting software to keep track of financial health of the businessSoonicorn. Stage: Series A

Intel Capital, Meritage Funds, Camp One Ventures and 3 Other Investors

PaperVault (2012, Ferreira)Cloud-based platform for digitizing invoices.Editor's Pick. Stage: Unfunded

https://tracxn.com/companies/kuE6gW72whqomWXWG5GYcDVv-GK0nCkNOM_RxGYWs4E/commercesync.com




247


Accounting Enablers

B2B Payments

Escrow.com (1999, Rancho Santa Margarita, $30M)Licensed escrow service provider.Stage: Acquired

PCCW, VerticalNet, SoftBank Group

Traxpay (2009, Frankfurt Am Main, $19M)A B2B Payment PlatformMinicorn. Stage: Series B

Earlybird Venture Capital, Apax Partners, Software AG and 1 Other Investors

PayMate (2006, Mumbai, $17.8M)B2B Payments platformMinicorn. Stage: Series B

Lightbox Ventures, KPCB, Sherpalo Ventures and 2 Other Investors

Ordermentum (2014, Sydney, $2.5M)B2B ordering and payment solutionEditor's Pick. Stage: Series A

B2B Payments

B2B Pay (2015, Berlin)European B2B payment transfer servicesMinicorn. Stage: Funded

Techstars

MarketPay (2016, Barcelona)Blockchain-enabled escrow payment enabler.Editor's Pick. Stage: Unfunded

Plooto (2015, Toronto)B2B payment softwareEditor's Pick. Stage: Seed

Real Ventures, Hedgewood

Electronic Clearing House (1981, Camarillo)End-to-end payment processing solutions.Stage: Acquired

Bank of the West

B2B Payments

IPay Technologies (2001, Elizabethtown)Online bill pay serviceStage: Acquired

Bain Capital Ventures, Spectrum Equity

https://tracxn.com/companies/_4q220BZMsAJjoTPeBqabDcbqUn_9uAuXlmeHGhzTUM/traxpay.com

https://tracxn.com/companies/JxLneoVbJuGbRuyNBXcdojtfJ3FNJ2j_q1OUP1vSuHE/paymate.in




248


Accounting Enablers


GoCardless (2011, London, $47.5M)Online payments solutions for recurring paymentsSoonicorn. Stage: Series C

Accel Partners, Balderton Capital, Notion Capital and 8 Other Investors

Vindicia (2003, Redwood City, $41M)SaaS subscription and recurring billingStage: Acquired

FTV Capital, Bertelsmann Digital Media Investments, ONSET Ventures and 4 Other Investors

Cerillion Skyline (1999, London, $9M)Subscription billing, charging and CRM solution provider.IPO Date Mar 2016 Mcap $832kIPO Mcap -- CER P/E 21.78


Avangate (2006, Redwood Shores, $7.5M)eCommerce and channel sales management solution providerMinicorn. Stage: Acquired

Gecad Ventures, Francisco Partners, 3TS Capital Partners

Chargebee (2011, Chennai, $6.2M)Managed subscription billing service for SaaSMinicorn. Stage: Series B

Tiger Global Management, Accel Partners, Girish Mathrubootham

Cleverbridge (2005, Cologne)Global full-service e-commerce and subscription management solution providerSoonicorn. Stage: Unfunded


FastSpring (2005, Santa Barbara)Digital e-commerce payment, merchandising and fulfillment solutionSoonicorn. Stage: Acquired

Pylon Capital, Bill 95, The Cambria Group

Digital River (1994, Minnetonka)Global commerce, marketing and payments solutions provider.Stage: Acquired

Earlybird Venture Capital, Capital Southwest

https://tracxn.com/companies/lRCypQ0EMQo_IlmE-RNGctbJWJQe1eTr9xw9pUU6UFI/gocardless.com

https://tracxn.com/companies/aBnDJexRmRXZadZWLwe8q39hh_ijTWJyX9zgLqgoTso/vindicia.com


Funded Deadpooled Companies

249


Finance & Accounting > Appendix > Funded Deadpooled Companies

View all 87 Deadpooled companies on Tracxn Platform

Funding Company Location

$20.5M E-Duction Blue Bell

$1.5M SureBooks Mckinney

$1.5M Activecell New York City

$19.7k Mipagar Haarlem

Easy Bill Online Edmonton

EcoFinSim Haifa

Utfylt.no Oslo

Index of Deadpooled companies in Finance & Accounting

https://tracxn.com/theme/feedview/5405b136e4b0eae7f320019b#%7CcompanyStage%3DDeadpooled%7Csort%3DdatePublished


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