Rev.io, an Atlanta-based billing platform, has received a growth investment from local PE firm Primus Capital.
Though Rev.io declined to reveal the amount of the growth investment, the SaaS startup said the investment will be used to achieve its growth targets and drive scalability across operations, according to a news release. Vasant Kamath, director at Primus, Ron Hess, managing director at Primus, and AuthVia’s President and COO Trevor Rubel will join Rev.io’s board of directors.
“This partnership with Primus marks the start of a new era at Rev.io,” Brent Maropis, CEO of Rev.io, said in a statement. “While the cloud communications, IoT, and managed services industries have significant growth opportunities ahead, even the best providers can struggle with inefficiencies and revenue leakage associated with their subscription-based billing. Rev.io already helps a deep base of clients grow their revenue efficiently on our billing, customer management, and payments platform. By leveraging Primus’ experience, insight into SaaS best practices, and financial support, we can realize full scalability in our operating models and accelerate our already impressive growth trajectory.”
Founded in 2002, Rev.io developed a billing, back-office and payments platform for providers in the communications, IoT and other managed services spaces.
“Rev.io focuses on solving some of the most complex invoicing and billing use cases in the communications market while operating as a true business partner to its customers," Hess said in a statement. "The positive feedback we got from the market was overwhelming.”
Recently, Rev.io was named on the Inc. 5000 list for the seventh time, this year coming in with a three-year revenue growth of 99%. The startup previously raised a $2.5 million in funding, according to Crunchbase.
