Sequence has come out of stealth and announced that it has raised $19 million to build “the finance operations platform of the future” for B2B Software-as-a-Service (SaaS) companies.
The company is building a platform that will help companies manage pricing models, data about customer usage and transactions, financial data, billing and collecting bank or direct debit payments, Sequence said in a post on LinkedIn.
“If your B2B SaaS team is experiencing billing bottlenecks or wants to tap into customer usage and financial data points to power your company, we’d love to hear from you,” the company said in the post, adding that companies can sign up for its beta program.
Following the private beta program that is currently being run, Sequence is to launch publicly in the fourth quarter, according to its website.
The platform is being built to provide those billing and collections functions to B2B companies as they scale from seed to initial public offering (IPO). It also integrates with companies’ existing tools like Salesforce and Xero and offers application programming interfaces (APIs) to embed pay ins and payouts into companies’ products, according to the company’s website.
After automating their billing and payments process with Sequence, companies can use customers’ usage data to offer them financial incentives, Sequence Co-Founder and CEO Riya Grover told Sifted in an article that Sequence linked to in its LinkedIn post.
“Imagine an energy company being able to get customers discounts or awards based on certain patterns of behavior,” Grover told Sifted. “You can use this kind of data to understand how to optimize your pricing or understand how to calculate sales commissions.”
PYMNTS has reached out to Sequence for comment.
In related news, billing and revenue management solutions provider Maxio announced Sept. 13 that it launched a one-stop solution that unifies financial operations for SaaS companies.
“Maxio strikes the right balance between agility and complexity at every stage of a company’s growth,” Maxio CEO Randy Wootton said at the time.
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