RightRev, a leader in cloud-based finance automation, has secured $12 million in new funding to enhance revenue recognition automation. The round was co-led by Norwest Venture Partners and Salesforce Ventures, with participation from Correlation Ventures and IDEA Fund Partners, bringing total capital raised to $17.6 million.
Since partnering with RightRev in 2021, Norwest Venture Partners has witnessed a 250% surge in its annual recurring revenue. Scott Beechuk, Partner at Norwest, stated, “RightRev has solidified its position in revenue automation. We’re excited to back their continued growth.”
RightRev is transforming how companies approach revenue recognition automation. It eliminates the need for outdated spreadsheets and disconnected systems. Its cloud-based platform supports dynamic pricing models, including subscriptions and usage-based billing, essential for modern enterprise needs.
With this new capital, RightRev aims to accelerate product innovation and expand its integrations with billing platforms and ERP systems. The company plans to address the rising demand for flexible, scalable, and compliant revenue accounting tools in SaaS and enterprise markets.
Since its founding in 2020, RightRev has built a strong reputation in finance automation by handling complex use cases. Its customers range from mid-sized businesses to global enterprises, all seeking smarter ways to automate revenue processes.
CEO and Founder Jagan Reddy emphasized the company’s vision, stating, “This funding helps us push the limits of automation. We’re focused on redefining revenue accounting for tomorrow’s enterprises.”
RightRev’s platform supports high transaction volumes and advanced automation. Its cloud-based accounting engine allows businesses to implement flexible pricing and streamline finance workflows without heavy manual intervention.
Additionally, RightRev offers a native Salesforce Revenue Cloud integration for complete lead-to-revenue visibility. It enhances Salesforce CPQ and Billing while also working as a standalone platform that can ingest data from any quoting or order source.
Zak Kokosa of Salesforce Ventures added, “RightRev extends Salesforce’s revenue automation capabilities. We’re proud to deepen our partnership and support their continued success.”
With a focus on revenue recognition automation, cloud-based accounting, and finance automation, RightRev continues to innovate and lead in enterprise revenue transformation.
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News Source: Businesswire.com
