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BILL has raised $387.0M across 11 funding rounds.
Key people at BILL.
BILL has raised $387.0M in total across 11 funding rounds.
Based in San Jose, California, BILL provides a cloud-based financial operations platform that automates accounts payable, accounts receivable, and expense management workflows for small and midsize businesses. The publicly traded company generates over $1.05 billion in annual revenue through software subscription fees and transaction processing, handling approximately one percent of the United States gross domestic product annually. Operating with a workforce of approximately 2,000 employees, the software serves more than 400,000 businesses and connects a broader member network exceeding eight million entities. The platform integrates directly with major accounting systems like QuickBooks and NetSuite, maintains strategic partnerships with financial institutions such as JPMorgan Chase, and expanded its capabilities through the acquisitions of Invoice2go and Divvy, purchasing the latter for $2.5 billion. The financial technology company was originally founded in 2006 by René Lacerte.
Key people at BILL.
BILL has raised $387.0M in total across 11 funding rounds.
BILL's investors include Anthony Hardy, CFA, Cross Creek Advisors, Fidelity Investments Canada, FLEETCOR, Kayne Anderson Rudnick, Ginger Siegel, Temasek, Ana Capella, American Express Ventures, August Capital, Commerce Ventures, DCM.
BILL Holdings, Inc. (NYSE: BILL) is a leading financial technology company providing an AI-powered, cloud-based platform that automates financial operations for small and midsize businesses (SMBs).[1][2][5] Its core products handle accounts payable (AP), accounts receivable (AR), expense management, spend control, invoicing, and payments via ACH, virtual cards, and credit lines up to $5 million, integrating seamlessly with accounting software like QuickBooks to streamline workflows, reduce errors, and optimize cash flow.[1][2][5] Serving over 470,000 SMB customers worldwide, BILL processes $275–290 billion in annual payment volume with $1.4 billion in trailing 12-month revenue as of 2024, demonstrating strong growth momentum post-IPO and key acquisitions like Divvy ($2.5B in 2021) for spend management and Invoice2go ($625M) for mobile invoicing.[2][3]
Founded in April 2006 as Cashboard, Inc. in Palo Alto, California (later renamed Bill.com and rebranded to BILL), the company emerged from founder and CEO René Lacerte's experience building PayCycle, an online payroll software firm he co-founded and led until stepping down as CEO in 2004.[2][3] Lacerte identified the need for cloud-based bill payment and bookkeeping tools for SMBs, securing early funding from investors like August Capital and DCM Ventures.[3] Pivotal moments include its 2019 NYSE IPO raising $216 million (part of $496M total raised), headquarters relocation to San Jose in 2020, and 2021 acquisitions of Divvy and Invoice2go, which expanded its capabilities into expense tracking and freelancer invoicing amid rising demand for digital financial tools.[2][3] By 2025, BILL maintained a market cap around $5 billion despite board governance shifts involving activist investor Starboard.[3]
BILL rides the fintech automation wave for SMBs, capitalizing on digital transformation accelerated by remote work, e-commerce growth, and post-pandemic cash flow pressures, where traditional manual processes like checks hinder 80% of SMBs.[1][2][5] Timing aligns with rising AI adoption in finance—competing with Kyriba and Routable—while market forces like high interest rates and economic uncertainty favor its credit and budgeting tools.[1] BILL influences the ecosystem by enabling banks via white-label solutions, fostering a network effect among suppliers/customers, and driving SMB digitization, with $275B+ payment volume underscoring its scale in a $100B+ AP/AR automation market.[2][3]
BILL is poised for expansion through AI enhancements, international growth, and deeper enterprise features, potentially boosting revenue beyond $1.4B amid SMB fintech consolidation.[2][5] Trends like embedded finance, regulatory tailwinds for digital payments, and AI-driven treasury tools will shape its path, though competition and board dynamics (e.g., 2025 Starboard nominations) pose risks.[3] Its influence may evolve toward full-stack SMB finance platforms, solidifying its role as the go-to automation hub that began with simplifying bills for businesses everywhere.[1][2]
BILL has raised $387.0M across 11 funding rounds. Most recently, it raised $88.0M Other Equity in April 2019.
