Austin, TX - October 30, 2014 - goTransverse, the leader in cloud-based revenue operations management and billing, today announced that it secured an investment of $25 million from German private equity firm Siedentopf KG bringing its total investment to $47 million. Gotransverse will use this investment to further advance TRACT®, which has emerged as the most sophisticated, enterprise-grade SaaS platform in the industry. TRACT® is the only billing and revenue operations platform that can offer automation and insight into revenue recognition, supporting companies in meeting their obligations under Sarbanes Oxley and similar legislative and regulatory requirements. It integrates with every leading ERP and CRM system on the market. The Company’s first-of-its-kind revenue operations software empowers CFOs and controllers with real-time, end-to-end analytics across order management, usage-based billing, subscription management, revenue recognition and other critical finance functions.
“We are excited with the growth Gotransverse is experiencing as a market leader in the revenue operations space. Gotransverse’s cloud-based TRACT platform has the unique ability to process Internet scale data sets while providing deep analytic views into its customers’ finance data. Gotransverse is well positioned for long-term sustainability and growth in the emerging revenue operations market of cloud technology providers,” said Bernd Schmielau, Siedentopf KG partner and the investor’s general manager of technology investments.
In addition to investing in its cloud-based, TRACT revenue operations platform, Gotransverse is expanding its headquarters in the historic Sampson Building in downtown Austin to accommodate its growing professional services and support teams.
“By providing a further commitment to our business plans and growth, our investors are enabling Gotransverse to solidify our position as market leaders,” said James Messer, CEO and co-founder of Gotransverse. “This investment allows us to better support our rapidly growing customer base, while increasing our focus on handling real-time, high-volume transactions with dynamic invoicing, accounting and reporting functionality.”
Private equity investor Siedentopf KG controls a family of companies, headquartered in Germany. The group’s international divisions cover software, commercial real estate and global commodity trading and processing.
Gotransverse’s global roster of customers includes Generac (NYSE: GNRC); IT infrastructure company Peak 10; Cvent (NYSE: CVT); Swedish media group Parsifal Entertainment; leading French consumer software company Avanquest; Merchandising-as-a-Service pioneer Amplifier; and leading South African communications provider Vox Telecom.
About Gotransverse
Gotransverse created the first-of-its-kind revenue operations software solution that drives inefficiencies out of the revenue stream across the entire business. Its agile SaaS solution provides automation, integration and insight across enterprise-wide revenue operations. Transverse enables companies to speed their financial close, prevent revenue leakage, reduce customer churn and increase profits, all of which maximizes shareholder value. For more information, visit: www.gotransverse.com
Media Contact:
Heather Burton, Vice President of Marketing at Gotransverse
hburton@gotransverse.com