Raises $8.5 Million From August, DCM, and Emergence

Posted Aug 5, 2009 has raised $8.5 million from August Capital, DCM, and Emergence Capital recently.  David Hornik of August Capital will be joining the Board of Directors as part of this round of funding.  Thus far, has raised a total of $17 million. acts as a collaborative online bill payment for businesses. 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. software makes this whole process available online. accepts faxed bills and then they scan them and e-mail it to people that need to approve the documentation. also uses OCR to enable searching for documentation later on.  The base fee of one user for is $24.99 and each user after that is $9.99.  Each check payment has a small fee attached for as well.  According to’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 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.