Centennial's BillingPlatform, a cloud-based monetization and billing software provider, has raised a $10 million Series B to continue product development and double its headcount.
The funding was led by Columbia Capital, which has contributed $14 million to BillingPlatform since 2017.
BillingPlatform's system includes a number of tools for account and contract management, business intelligence, revenue recognition, invoicing and more. It also supports a variety of monetization models, ranging from standard and usage-based billing to subscription.
The company currently has about 75 employees across its global offices and has plans to continue its recent growth. Since 2017, BillingPlatform has seen two-times annual headcount growth and will hire to replicate that trend, specifically adding positions in sales, engineering, marketing, development and customer success.
The funding will also support BillingPlatform's product development, customer success programs and go-to-market efforts.
"During the last 12 months, BillingPlatform dramatically built its sales and marketing engine and actively worked with the customer base to elevate the customer experience," Jeannie Zaemes, director of marketing, told Colorado Inno. "Additionally we worked very closely with customers to identify functionality to further support unique business requirements and incorporated these enhancements into regular software upgrades and releases. During the coming months we expect to see continued growth at the same rate and will continue to focus on sales and marketing, development, and customer success."
As the company continues to grow and add enterprise customers, Zaemes said BillingPlatform will continue to develop its monetization platform to meet client needs.
"We have global customers across multiple industries including communications, technology, transportation, finance, software and media and we plan to continue partnering with enterprise organizations looking for a monetization solution that will easily support and adapt to their unique business model and pricing structure," Zaemes said.
BillingPlatform's newest customers include Amadeus, Asurint, Conifer Health Solutions, NBT Bank, Valmont Industries and Xandr, joining a base of enterprises across various industries.
