Fenwick & West LLP represented Bill.com, Inc., an integrated bill payment, invoicing and cash flow management solution for businesses, in its recently announced $38 million round of financing. The round was led by new investor Scale Venture Partners and included investments from Bank of America, American Express, Fifth Third Bank, Commerce Ventures and Pete Knight (founder of CheckFree). The round also included previous investors August Capital, Napier Park Global Capital, TTV Capital, Jafco Ventures, Emergence Capital and DCM. As part of the investment, ScaleVP partner Rory O’Driscoll has joined the Bill.com Board of Directors.
The new investment will be used to continue developing the company’s Banking Platform to support its rapidly growing banking channel, customer acquisition and investment in core product features and integration. More information about Bill.com’s $38M round of financing can be obtained from the company press release.
The Fenwick transaction team was led by corporate partner Michael Patrick; and corporate associate Lara Anthony.