Tag Archives: David Hornik
Blippy Raises $11.2 Million, Now Valued At $46.2 Million
Blippy, a service that shows what your friends are buying through social networking has raised $11.2 million in funding. On paper, the company is now valued $46.2 million. The latest round of funding was led by August Capital. August partner David Hornik will be joining the board of directors at Blippy. Hornik actually shared his investment on Blippy too… yup he shared that he put in an $8 million investment in the web company. Charles River Ventures put in $3.2 million out of the $11.2 million investment in this round. Blippy plans to use the funding for marketing and closing business deals. [TechCrunch]
Categories August Capital, Blippy, David Hornik
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Bill.com Raises $8.5 Million From August, DCM, and Emergence
Bill.com has raised $8.5 million from August Capital, DCM, and Emergence Capital recently. David Hornik of August Capital will be joining the Bill.com Board of Directors as part of this round of funding. Thus far, Bill.com has raised a total of $17 million. Bill.com acts as a collaborative online bill payment for businesses.
Bill.com has software that encourages businesses to eliminate filing bill paper documentation. Large businesses usually have to managers approve large bills and then the finance department has to approve of them. Bill.com software makes this whole process available online. Bill.com accepts faxed bills and then they scan them and e-mail it to people that need to approve the documentation.
Bill.com also uses OCR to enable searching for documentation later on. The base fee of one user for Bill.com is $24.99 and each user after that is $9.99. Each check payment has a small fee attached for Bill.com as well. According to Bill.com’s VP of Marketing Jeff Schultz, businesses are saving as much as 50% in the amount of time taken to pay bills.
René Lacerte founded Bill.com in 2007. The company presented at the DEMO conference and won the DEMOgod award. The company was originally called CashView. Lacerte had previously built a company called PayCycle, which was bought out for $170 million by Intuit last month.