Toronto, ON—June 15, 2021—Versapay Corporation, a leading provider of cloud-based payments and accounts receivable automation solutions, announced new advancements to its technology stack that will improve the customer experience for users across its suite of products. With $200 million in private equity funding from parent company Great Hill Partners (who acquired Versapay last year), the company has integrated its four previously distinct products into a unified platform that will give its customers access to Versapay’s full spectrum of capabilities ranging from mid-market to enterprise.
With this advancement, users of Oracle NetSuite, Microsoft Dynamics 365 Business Central, and Sage Intacct can leverage Versapay’s complete product suite as a single platform for omni-channel payment acceptance and end-to-end cloud-based accounts receivable automation and deploy the entire solution in days.
“We strive to identify highly differentiated software companies serving fragmented markets,” said Matt Vettel, a Managing Partner at Great Hill. “The advancements Versapay is making to their products positions them to be highly competitive in the rapidly growing market for accounts receivable solutions.”
The unified platform will enable Versapay to develop features for its entire customer base faster. It also allows for increased sharing of data and services across products, making it easy for customers to subscribe to additional capabilities and transact with more companies on the Versapay Network.
“We’re extremely pleased with the progress we’ve made bringing our products together into a single platform,” said Versapay’s Chief Technology Officer Phil Pettinato. “We’re now in a position to offer a more consistent experience to all our customers while advancing our platform’s capabilities faster.”
“The unification of our product architecture represents a major step in our mission to power the next generation of B2B digital payments through the Versapay Network,” said Versapay’s Chief Executive Officer Craig O’Neill.
Versapay is focused on transforming the accounts receivable process and accelerating cash flow by connecting AR teams with their customers over the cloud. Through the Versapay Network we make billing and payments easy for buyers and sellers, reducing costs and eliminating paper, checks, and manual business processes. Based in Toronto with offices in Atlanta, Cleveland, Baltimore, LA, and Las Vegas, Versapay is owned by Great Hill Partners, a Boston-based technology investment firm.