SaaSOptics receives a $5m Series A led by Fulcrum

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fintech insurtech wealthtech regtech ai cybertech esg news

Online subscription management company SaaSOptics has received a $5m Series A investment led by Fulcrum Equity Partners.

Participation to the round also came from existing backers Tom Noonan and TechStars Ventures, as well as new investor Duke Angel Network.

Georgia-based is a B2B subscription management platform that provides companies with subscription and order management solutions. Other offerings include GAAP revenue recognition, e-invoicing and payments, GAAP financial reporting, subscription metrics and analytics.

The company can help to streamline renewal payments and automate the revenue recognition processes to ensure a business can keep track of subscriptions.

Last year, SaaSOptics saw a 139 per cent committed ARR growth and a grew its customer base to more than 400 companies, according to the company. Some of the businesses using the technology include Salesforce, QuickBooks, Sage Intacct, and Stripe.

The capital from the round will be used to scale its sales and marketing efforts, as well as investing in its customer success, new products and innovation. SaaSOptics also hopes to add 50 employees to its sales, sales development, marketing, customer success and support, and product management and development teams.

Fulcrum Equity Partners partner Jeff Muir said, “Most young and growing SaaS and subscription-based businesses move along, struggling with inefficient manual processes and error-prone spreadsheets because they believe there isn’t an affordable solution that can meet the unique needs of their business.

“That’s why we’re so excited to partner with SaaSOptics, because they fill this market gap with an affordable subscription model and a low impact, low cost onboarding process that is quick to implement.”

Last year, the firm made a $5.5m investment in to payment solution provider Fattmerchant. The company offers an omni-channel payment solution for both terminal and mobile transaction.

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