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Avolent Receives $9 Million Equity-Financing Round
Leader in Interactive Self-service Electronic Billing and Payment Expands to Meet Growing Market Opportunity
Avolent, Inc., the leader in Interactive Self-Service Electronic Billing and Payment software solutions recently announced the closing of a $9 million equity-financing round led by RBC Technology Ventures.
“Interactive, self-service electronic billing and payment addresses one of the greatest opportunities to reshape a fundamental customer interaction, turning the invoice-to-pay process into a valuable customer asset,” said Doug Roberts, Chief Executive Officer of Avolent. “We are pleased to have a high caliber investor like RBC join our existing investors to help ensure that Avolent continues to dominate this growing market.”
With this round of funding, Avolent will expand its footprint in Europe and Asia, investing in partner relationships worldwide and further develop its sales and marketing initiatives to address the escalating demand for eBilling and ePayment among global enterprise organizations.
As the venture arm of one of the world’s leading banks, RBC Technology Ventures recognizes the importance of the invoice-to-cash process for eBusiness. “There is substantial opportunity to streamline the billing and payment portion of a customer’s experience with any company,” said Robert Antoniades, Managing Director of RBC Technology Ventures Inc. “Avolent is well positioned to pursue these opportunities and capitalize on the rising demand for this service.”
This round also includes strong participation from Avolent’s previous investors including Columbia Capital, Constellation Ventures (Bear Stearns), and Rho Ventures, who continue to show their commitment as Avolent invests further in its industry leading product for interactive, self-service electronic billing and payment.
Avolent continues to make sizeable inroads into new and existing markets with momentum fueled by its close relationships with partners and with the recent addition of its Standard Edition and software-as-a-service (SaaS) solutions for mid-size enterprises and divisions of larger organizations. AVOLENT Standard Edition packages key interactive self-service eBilling functionality into a simple to deploy, cost-effective package.
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