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.

RockYou announced today that they have raised $35 million Series C in funding.  The firms that invested in RockYou includes DCM, Lightspeed Venture Partners, Partech International, and Sequoia.  RockYou! created some of the more viral applications on Facebook including Vampires, Superwall, and Likeness.  RockYou! also created marketing campaigns for Microsoft, CBS, Sony, New Line, and Paramount. 

“DCM believes that RockYou will be the catalyst of this new global ecosystem that delivers next-generation advertisements through its innovative advertising network and social applications,” stated co-founder of DCM, David Chao. “With the current momentum, RockYou is positioned to become a top-10 Internet property in the world in the near future.”

RockYou! will use the funding to grow their team and to create more applications.  RockYou! receives roughly 87.5 million unique monthly visitors and 2.7 billion page views.  RockYou! uses Google OpenSocial to spread their applications across Hi5, MySpace, and Orkut. 

“RockYou is incredibly proud to announce our funding, and are very pleased to be able to work with DCM and be a part of their impressive portfolio. RockYou is entering into a very exciting time both with the applications we are developing, and also with the expansion of our social advertising platform,” stated Lance Tokuda, the CEO of RockYou!